PRINTER'S NO. 1255
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
1081
Session of
2019
INTRODUCED BY KAUFER, PEIFER, BERNSTINE, DIAMOND, DUNBAR,
GREINER, HELM, IRVIN, MARSHALL, MILLARD, MOUL, PYLE, ROTHMAN,
RYAN AND STAATS, APRIL 8, 2019
REFERRED TO COMMITTEE ON FINANCE, APRIL 8, 2019
AN ACT
Repealing the act of June 22 1931 (P.L.685, No.250), entitled
"An act providing for the settlement of capital stock tax in
the cases of corporations, joint-stock associations, limited
partnerships, and companies which own assets which are
exempted or relieved from capital stock tax."
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of June 22 1931 (P.L.685, No.250),
entitled "An act providing for the settlement of capital stock
tax in the cases of corporations, joint-stock associations,
limited partnerships, and companies which own assets which are
exempted or relieved from capital stock tax," is repealed:
[AN ACT
Providing for the settlement of capital stock tax in the cases
of corporations, joint-stock associations, limited
partnerships, and companies which own assets which are
exempted or relieved from capital stock tax.
Section 1. Be it enacted, &c., That whenever any
corporation, joint-stock association, limited partnership, or
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company, subject to tax upon its capital stock imposed by and
under the laws of this Commonwealth, owns assets which are
exempted or relieved from the capital stock tax under the laws
of this Commonwealth, the proportion of the capital stock
exempted or relieved from the capital stock tax, by reason of
the ownership of such assets, shall be the proportion which the
value of such assets bears to the value of the total assets
owned by such corporation, joint-stock association, limited
partnership, or company.
Section 2. The provisions of this act shall be applicable to
the settlements of capital stock taxes for the year ending the
thirty-first day of December, one thousand nine hundred and
thirty, and for all calendar and fiscal years ending
thereafter.]
Section 2. This act shall take effect in 60 days.
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