S0659B0706A03612 MSP:MAC 03/15/24 #90 A03612
AMENDMENTS TO SENATE BILL NO. 659
Sponsor: SENATOR HUTCHINSON
Printer's No. 706
Amend Bill, page 2, line 19, by striking out "pass-through
entity" and inserting
partnership
Amend Bill, page 2, by inserting between lines 26 and 27
(2) An electing Pennsylvania S corporation with all resident
shareholders shall be subject to and shall pay a tax imposed at
the rate provided in section 302(b) on each resident taxable
owner's share of each class of income and gain enumerated in
section 303 from sources within this Commonwealth for the
taxable year.
(3) An electing Pennsylvania S corporation whose
shareholders are comprised of either nonresident shareholders,
or resident and nonresident shareholders shall be subject to and
shall pay a tax imposed at the rate provided in section 302(b)
on each taxable owner's share of each class of income and gain
enumerated in section 303 from sources within this Commonwealth
for the taxable year.
Amend Bill, page 2, line 27, by striking out "(2)" and
inserting
(4)
Amend Bill, page 2, line 30, by striking out "(3)" and
inserting
(5)
Amend Bill, page 3, line 9, by striking out "(4)" and
inserting
(6)
Amend Bill, page 3, line 14, by striking out "(5)" and
inserting
(7)
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Amend Bill, page 3, line 24, by striking out "before or with"
and inserting
on or before the original due date of
Amend Bill, page 4, lines 25 and 26, by striking out "(e)(2)
and (3) " and inserting
(d)(3) and (4)
Amend Bill, page 5, lines 1 through 6, by striking out "A
pass-through entity that elects to pay tax under" in line 1, all
of lines 2 through 5 and "(e)" in line 6
Amend Bill, page 5, line 7, by striking out "330(a)" and
inserting
330.1(b) or 335(c)
Amend Bill, page 5, line 9, by striking out "article" and
inserting
subsection and pay the tax due
Amend Bill, page 5, by inserting between lines 9 and 10
(2) If a pass-through entity is granted an extension to file
a return required to be filed under section 330.1(b) or 335(c),
the extension shall apply for purposes of filing the return
under this section, but not for the payment of any tax due under
subsection (a).
Amend Bill, page 5, line 10, by striking out "(2)" and
inserting
(3)
Amend Bill, page 5, line 14, by striking out "certification
are true" and inserting
return are true and correct
Amend Bill, page 5, line 15, by striking out "(3)" and
inserting
(4)
Amend Bill, page 6, line 9, by striking out "(4)" and
inserting
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(5)
Amend Bill, page 6, line 12, by striking out "(5)" and
inserting
(6)
Amend Bill, page 6, line 20, by striking out "(6)" and
inserting
(7)
Amend Bill, page 7, line 3, by striking out "(f)" and
inserting
(e)
Amend Bill, page 7, line 11, by striking out "(e)" and
inserting
(d)
Amend Bill, page 7, line 24, by striking out "(g)" and
inserting
(f)
Amend Bill, page 8, line 3, by striking out "(h)" and
inserting
(g)
Amend Bill, page 8, line 6, by striking out "guidelines" and
inserting
guidance
Amend Bill, page 8, line 8, by striking out "(i)" and
inserting
(h)
Amend Bill, page 8, lines 8 through 16, by striking out "If
the election is made, the pass-through entity" in line 8, all of
lines 9 through 15 and "(2)" in line 16
Amend Bill, page 8, line 17, by striking out "section" and
inserting
clause
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Amend Bill, page 8, line 21, by striking out "(3)" and
inserting
(2)
Amend Bill, page 8, line 22, by striking out "section" and
inserting
clause
Amend Bill, page 8, line 27, by striking out "(j)" and
inserting
(i)
Amend Bill, page 10, line 9, by striking out "2022" and
inserting
2020
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