Bill Text: PA HB504 | 2009-2010 | Regular Session | Introduced

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Bill Title: Further providing for declarations of estimated tax.

Spectrum: Slight Partisan Bill (Republican 25-12)

Status: (Introduced - Dead) 2009-02-18 - Referred to FINANCE [HB504 Detail]

Download: Pennsylvania-2009-HB504-Introduced.html

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PRINTER'S NO. 556
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 504 Session of2009
INTRODUCED BY ROSS, BARRAR, BEYER, BOYD, BRENNAN, CARROLL, CREIGHTON, DePASQUALE, EVERETT, FAIRCHILD, FLECK, GEIST, GIBBONS, GINGRICH, HESS, HORNAMAN, KORTZ, LONGIETTI, MAJOR, MANN, MILLARD, MILLER, MILNE, MOUL, O'NEILL, PAYNE, PICKETT, RAPP, READSHAW, REICHLEY, ROHRER, SAYLOR, SCAVELLO, SIPTROTH, SWANGER AND YOUNGBLOOD, FEBRUARY 18, 2009
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 18, 2009
AN ACT
Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
act relating to tax reform and State taxation by codifying
and enumerating certain subjects of taxation and imposing
taxes thereon; providing procedures for the payment,
collection, administration and enforcement thereof; providing
for tax credits in certain cases; conferring powers and
imposing duties upon the Department of Revenue, certain
employers, fiduciaries, individuals, persons, corporations
and other entities; prescribing crimes, offenses and
penalties," further providing for declarations of estimated
tax.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 325 of the act of March 4, 1971 (P.L.6,
No.2), known as the Tax Reform Code of 1971, amended August 4,
1991 (P.L.97, No.22) and May 12, 1999 (P.L.26, No.4), is amended
to read:
Section 325. Declarations of Estimated Tax.--(a) Every
resident and nonresident individual, trust and estate shall at
the time hereinafter prescribed make a declaration of his or its
estimated tax for the taxable year, containing such information
as the department may prescribe by regulations, if his or its
income, other than from compensation on which tax is withheld
under this article, can reasonably be expected to exceed [eight
thousand dollars ($8,000)] ten thousand dollars ($10,000).
(b) For the purposes of this article, the term "estimated
tax" means the amount which an individual, trust or estate
estimates to be his or its tax due under this article for the
taxable year, less the amount which he or it estimates to be the
sum of any credits allowable against the tax under this article.
(c) A husband and wife may make a joint declaration of
estimated tax hereunder as if they were one taxpayer, in which
case the liability with respect to the estimated tax shall be
joint and several. If a joint declaration is made but husband
and wife elect to determine their taxes separately, the
estimated tax for such year may be treated as the estimated tax
of either husband or wife, or may be divided between them, as
they may elect.
(d) Except as hereinafter provided, the date for filing a
declaration of estimated tax shall depend upon when the resident
or nonresident individual, trust or estate determines that his
or its income on which no tax has been withheld under this
article can reasonably be expected to exceed [eight thousand
dollars ($8,000)] ten thousand dollars ($10,000) in the taxable
year, as follows:
(1) If the determination is made on or before April 1 of the
taxable year, a declaration of estimated tax shall be filed no
later than April 15 of the taxable year.
(2) If the determination is made after April 1 but before
June 2 of the taxable year, the declaration shall be filed no
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later than June 15 of such year.
(3) If the determination is made after June 1 but before
September 2 of the taxable year, the declaration shall be filed
no later than September 15 of such year.
(4) If the determination is made after September 1 of the
taxable year, the declaration shall be filed no later than
[January 15] April 15 of the year succeeding the taxable year[.]
and may be filed with the taxpayer's annual tax return as
provided under this article.
(e) Notwithstanding subsection (d) of this section, a
declaration of estimated tax of an individual having an
estimated gross income from farming for the taxable year which
is at least two-thirds of his total estimated gross income for
the taxable year may be filed at any time on or before January
15 of the succeeding year, but if the farmer files a final
return and pays the entire tax by March 1, the return may be
considered as his declaration due on or before January 15.
(f) A declaration of estimated tax of an individual, trust
or estate having a total estimated tax for the taxable year of
one hundred dollars ($100) or less may be filed at any time on
or before January 15 of the succeeding year under regulations of
the department.
(g) An individual, trust or estate may amend a declaration
under regulations of the department.
(h) If on or before January 31 of the year succeeding a
taxable year, an individual, trust or estate files his or its
return for the entire taxable year for which a declaration was
required to be filed within the time prescribed by subsection
(d)(4) of this section and pays therewith the full amount of the
tax shown to be due on the return:
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(1) Such return shall be considered as his or its
declaration which was required to be filed no later than January
15.
(2) Such return shall be considered as the amendment
permitted by subsection (g) to be filed on or before January 15
provided the amount of the tax shown on the return is greater
than the amount of the estimated tax shown in a declaration
previously made.
(i) This article shall apply to a taxable year other than a
calendar year by the substitution of the months of such fiscal
year for the corresponding months specified in this section.
(j) This article shall apply to an individual, trust or
estate having a taxable year of less than twelve months in
accordance with procedures prescribed in regulations of the
department.
Section 2. This act shall apply to taxable years beginning
after December 31, 2009.
Section 3. This act shall take effect immediately.
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