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

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

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The document is an Inactive Pennsylvania Corporate Net Income Tax Report (RCT-101-i) for the tax year 2024. It requires general information about the corporation, including its state of incorporation, dates of incorporation and business commencement, and details regarding any previous business activities. The report affirms that the corporation did not conduct any business or possess assets during the specified tax period. It includes sections for corporate status changes, officer affirmations, and preparer's information.

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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 a PA RCT 101?

The PA Corporate Tax Report (RCT-101) is due annually on April 15 of the year following the year for which the report is submitted for a calendar year reporting corporation, or 30 days after the federal due date for corporations reporting to the federal government on a fiscal year basis.

What is the net income tax in PA?

Pennsylvania has a flat 3.07 percent individual income tax rate. There are also jurisdictions that collect local income taxes. Pennsylvania has an 7.99 percent corporate income tax rate. Pennsylvania has a 6.00 percent state sales tax rate and an average combined state and local sales tax rate of 6.34 percent.

What is the PA corporate net income tax?

Overview January 1, 2023 through December 31, 20238.99 percent January 1, 2024 through December 31, 2024 8.49 percent January 1, 2025 through December 31, 2025 7.99 percent January 1, 2026 through December 31, 2026 7.49 percent January 1, 2027 through December 31, 2027 6.99 percent4 more rows

Do I need to file PA income tax return?

Who Must File. Every resident, part-year resident or nonresident individual must file a Pennsylvania Income Tax Return (PA-40) when he or she realizes income generating $1 or more in tax, even if no tax is due (e.g., when an employee receives compensation where tax is withheld).

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.

What taxes do businesses pay in Pennsylvania?

Pennsylvania Small Business Tax Rates and Forms Who Must FileTax Rate Nonresident Withholding Tax Partnerships S corporations Entities taxed as Partnerships or S corporations 3.07% Sales Tax Businesses with taxable sales Pennsylvania: 6% Allegheny County: 1% Philadelphia: 2% Employer Withholding Tax Employers 3.07%3 more rows Jan 17, 2025

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