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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| SENATE BILL |
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| INTRODUCED BY TOMLINSON, ORIE, PILEGGI, ERICKSON, D. WHITE, FOLMER, FONTANA, BOSCOLA, EARLL, RAFFERTY, M. WHITE, WARD, ALLOWAY AND WAUGH, JANUARY 28, 2011 |
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| REFERRED TO FINANCE, JANUARY 28, 2011 |
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| AN ACT |
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1 | Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An |
2 | act relating to tax reform and State taxation by codifying |
3 | and enumerating certain subjects of taxation and imposing |
4 | taxes thereon; providing procedures for the payment, |
5 | collection, administration and enforcement thereof; providing |
6 | for tax credits in certain cases; conferring powers and |
7 | imposing duties upon the Department of Revenue, certain |
8 | employers, fiduciaries, individuals, persons, corporations |
9 | and other entities; prescribing crimes, offenses and |
10 | penalties," further providing for additions to tax. |
11 | The General Assembly of the Commonwealth of Pennsylvania |
12 | hereby enacts as follows: |
13 | Section 1. Section 352(d)(2) of the act of March 4, 1971 |
14 | (P.L.6, No.2), known as the Tax Reform Code of 1971, amended |
15 | July 7, 2005 (P.L.149, No.40), is amended to read: |
16 | Section 352. Additions, Penalties and Fees.--* * * |
17 | (d) * * * |
18 | (2) No addition to tax shall be imposed if the total amount |
19 | of all payments of estimated tax made on or before the last date |
20 | prescribed for the payment of such installment equals or exceeds |
21 | the lesser of: |
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1 | (A) The amount which would have been required to be paid on |
2 | or before such date if the estimated tax were an amount equal to |
3 | the tax computed after consideration of the special tax |
4 | provisions for poverty, at the rates applicable to the taxable |
5 | year, but otherwise on the basis of the facts shown on his |
6 | return for, and the law applicable to, the preceding taxable |
7 | year; [or] |
8 | (B) An amount equal to ninety per cent of the tax computed, |
9 | at the rates applicable to the taxable year, on the basis of the |
10 | actual income for the months in the taxable year ending before |
11 | the month in which the installment is required to be paid, or, |
12 | in the case of a trust or estate, an amount equal to ninety per |
13 | cent of the applicable percentage of the tax for the taxable |
14 | year as determined pursuant to section 6654(d)(2)(C)(ii) of the |
15 | Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § |
16 | 6654), as amended, at rates applicable to the taxable year, |
17 | computed on an annualized basis in accordance with United States |
18 | Treasury regulations, based upon the actual income for the |
19 | months of the taxable year ending with the last day of the |
20 | second preceding month prior to the month in which the |
21 | installment is required to be paid[.]; or |
22 | (C) An amount equal to the tax liability shown on the |
23 | preceding tax year return, less special tax provisions for |
24 | poverty which shall apply to taxpayers who filed a full-year |
25 | Pennsylvania return for the preceding tax year, unless the |
26 | taxpayer was not required to file a Pennsylvania return. |
27 | Section 2. This act shall apply to taxable years beginning |
28 | after December 31, 2011. |
29 | Section 3. This act shall take effect immediately. |
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