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2024 PA Corporate Net Income Tax Report (RCT-101)

2024 PA Corporate Net Income Tax Report (RCT-101)-2025

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The document is a Pennsylvania Corporate Net Income Tax Report for the tax year 2024, which includes sections for general information, income and deductions, apportionment, and corporate officer affirmations. It requires details about the corporation's activities in Pennsylvania and other states, financial data from federal returns, and specific tax calculations. The report must be signed by corporate officers to affirm its accuracy.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the tax rate for corporate income tax?

Corporate tax rates by state StateState Corporate Tax Rate Alaska 0% 9.4% Arizona 4.9% Arkansas 1% 4.8% California 8.84%47 more rows May 6, 2024

Is PA RCT 101 required?

Corporations subject to the Corporate Net Income Tax (excluding PA S Corporations that have Built-In-Gains) must continue to file the RCT-101 annually.

What is the GRT rate in PA?

This is the interim rate set forth in PPL Electrics tariff for December 1, 2021 through May 31, 2022 and reflects the statutory PA GRT of 5.9%. Line 18 The State Tax Adjustment Surcharge (STAS) at 0.0001% multiplied by the subtotal of the GSC and TSC. All components reflect the statutory PA GRT of 5.9%.

What is the PA Corp tax rate for 2025?

Pennsylvania is moving forward with its planned corporate tax reductions, lowering the corporate income tax rate to 7.99% as of January 1, 2025. This marks a decrease from 8.49% in 2024 and a notable drop from the original 9.99%.

What is RCT 101D?

A foreign corporation will be required to file a RCT-101D, Declaration of de minimis PA Activity , attesting to the fact that they did not exceed the de minimis standards for that year.

What is the corporate net income tax rate in PA?

Starting in tax year 2023, the bill reduced Pennsylvanias corporate net income tax rate from 9.99 percent to 8.99 percent, with further 0.5 percentage point reductions each year until 2031, when the rate will be 4.99 percent.

What is the nexus threshold for PA corporate income tax?

Taxpayers with $500,000 or more of gross receipts sourced to Pennsylvania have a rebuttable presumption of nexus and should file a corporate tax report.

2024 PA Corporate Net Income Tax Report (RCT-101)-2025

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