PRINTER'S NO. 435
No. 397 Session of 1977
INTRODUCED BY BRUNNER, MARCH 1, 1977
REFERRED TO COMMITTEE ON FINANCE, MARCH 1, 1977
AN ACT
1 Amending the act of May 23, 1945 (P.L.893, No.360), entitled "An
2 act to provide revenue for State purposes by imposing an
3 excise tax on the net income of co-operative agricultural
4 associations having capital stock, in lieu of all other
5 taxes, except tax on real estate; providing for the
6 assessment, collection, settlement and resettlement of tax,
7 and reviews and appeal there form; conferring powers and
8 imposing duties on certain persons, co-operative agricultural
9 associations having capital stock, State and county officers,
10 boards and departments; and providing penalties," providing
11 for an increase in the amount of interest assessed against
12 unpaid taxes.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. Section 4, act of May 23, 1945 (P.L.893, No.360),
16 known as the "Co-operative Agricultural Association Corporate
17 Net Income Tax Act," is amended to read:
18 Section 4. Report and Payment of Tax.--For the purpose of
19 ascertaining the amount of tax payable under this act, it shall
20 be the duty of every association liable to pay tax under this
21 act, on or before the fifteenth day of April of each year, to
22 transmit to the department upon a form prescribed, prepared and
23 furnished by the department, a report under oath or affirmation,
1 of its president, vice-president or other principal officer and
2 of its treasurer or assistant treasurer of net income taxable
3 under the provisions of this act.
4 The failure of any association liable to pay tax under this
5 act to procure or receive any report form shall not excuse it
6 from making a report. Every association, upon the date its
7 report is required herein to be made, shall pay to the
8 department the tax due to the Commonwealth by it for the
9 preceding year.
10 The amount of the tax imposed under this act not paid on or
11 before the time, as above provided, shall bear interest at the
12 rate of [six per centum (6%) per annum] three quarters of one
13 per centum per month for each month or fraction thereof, from
14 the date it is due and payable until paid: Provided, however,
15 That any association may pay the full amount of such tax, or any
16 part thereof, together with interest due to the date of payment,
17 without prejudice to its right to present and prosecute a
18 petition for resettlement, a petition for review, or an appeal
19 to court. If it be thereafter determined that such taxes were
20 overpaid the department shall enter a credit to the account of
21 such association which may be used by it in the manner
22 prescribed by law.
23 If the officers of any association shall neglect or refuse to
24 make any report, as herein required, or shall knowingly make any
25 false report, an additional ten per centum (10%) of the amount
26 of the tax shall be added by the department to the tax
27 determined to be due.
28 If any association closes its fiscal year not upon the
29 thirty-first day of December, but upon some other date, such
30 association shall certify such fact to the Department of Revenue
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1 and shall make the report herein required on or before the
2 fifteenth day of the fourth month after the close of its fiscal
3 year.
4 Section 2. This act shall take effect immediately and shall
5 apply to the tax year beginning January 1, 1978.
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