Pennsylvania Act 1935-348 — TAXES, PAYABLE IN ADVANCE

Act text

TAXES, PAYABLE IN ADVANCE
                 Act of Jul. 16, 1935, P.L. 1043, No. 348             Cl. 72
                                  AN ACT

     Authorizing the payment of certain State taxes in advance of the
        due date thereof, allowing various discounts where such taxes
        are paid on or before certain dates, and conferring powers
        and imposing duties on the Department of Revenue and the
        Board of Finance and Revenue.

        Whereas, At the regular session of one thousand nine hundred
     and thirty-five, several laws were adopted to provide additional
     revenues for the Commonwealth during a two year period in order
     to finance unemployment relief and balance the budget for the
     fiscal biennium, one thousand nine hundred and thirty-five--one
     thousand nine hundred and thirty-seven; and
        Whereas, The bulk of these taxes assessed is not payable
     until the months of March, April, and May in the years, one
     thousand nine hundred and thirty-six and one thousand nine
     hundred and thirty-seven, and, therefore, these revenues are not
     immediately available for use; and
        Whereas, In order to provide moneys for the treasury, it is
     deemed proper to provide a discount on certain of these taxes if
     paid in whole or in part in advance; therefore
        Section 1.  Be it enacted, &c., That the word "corporation"
     as used in this act shall be construed to include corporations,
     joint-stock associations, limited partnerships, and companies.
        Section 2.  (a)  Any corporation organized for manufacturing
     purposes, for laundering, or for the processing and curing of
     meats, their products, and by-products, which by the act of May
     sixteenth, one thousand nine hundred and thirty-five (Act Number
     eighty-six), is required to pay a tax on its capital stock or a
     franchise tax upon a taxable value of its capital stock, and (b)
     any corporation which by the act of May sixteenth, one thousand
     nine hundred and thirty-five (Act Number ninety-one), is
     required to pay an excise tax on net income, and (c) any
     corporation which by the act of May sixteenth, one thousand nine
     hundred and thirty-five (Act Number eighty-nine), is required to
     pay an increased tax on gross receipts derived wholly from
     business done within this State, shall have authority to pay
     such taxes or such increased taxes, as the case may be, or any
     part thereof, into the treasury of the Commonwealth through the
     Department of Revenue in advance of the due date thereof and be
     entitled to receive a discount of four per centum (4%) per
     annum, on the amount so paid, which discount shall be calculated
     from the date of the advance payment to the date when such taxes
     actually become due, as ascertained by reference to the date
     when such taxes are actually settled and the time allowed by law
     for payment after settlement or the date fixed by law for
     payment, as the case may be.
        Section 3.  Such advance payment of taxes may be made on any
     of said taxes to become due and payable: (a) Under the
     provisions of the act of May sixteenth, one thousand nine
     hundred and thirty-five (Act Number eighty-six), by corporations
     on reports filed as of March fifteenth, one thousand nine
     hundred and thirty-six, for the calendar year one thousand nine
     hundred and thirty-five or the fiscal year beginning in the
     calendar year one thousand nine hundred and thirty-five, and on
     reports filed as of March fifteenth, one thousand nine hundred
     and thirty-seven, for the calendar year one thousand nine
     hundred and thirty-six or the fiscal year beginning in the
     calendar year one thousand nine hundred and thirty-six;
        (b)  under the provisions of the act of May sixteenth, one
     thousand nine hundred and thirty-five (Act Number ninety-one),
     by corporations, on reports filed as of April fifteenth, one
     thousand nine hundred and thirty-six, for the calendar year one
     thousand nine hundred and thirty-five or the fiscal year
     beginning in the calendar year one thousand nine hundred and
     thirty-five, and on reports filed as of April fifteenth, one
     thousand nine hundred and thirty-seven, for the calendar year
     one thousand nine hundred and thirty-six or the fiscal year
     beginning in the calendar year one thousand nine hundred and
     thirty-six;
        and (c) on the increased tax of six mills under the
     provisions of the act of May sixteenth, one thousand nine
     hundred and thirty-five (Act Number eighty-nine), on reports
     filed as of February first, one thousand nine hundred and
     thirty-six; July first, one thousand nine hundred and thirty-
     six, and February first, one thousand nine hundred and thirty-
     seven.
        Section 4.  In order to receive the benefits of this act, any
     corporation may make any estimate of the amount of the tax, or
     any part thereof, which it deems it will become liable to pay
     under the provisions of any revenue act referred to in this act,
     file such estimate with the Department of Revenue, and pay into
     the State Treasury through the Department of Revenue on or
     before December fifteenth, one thousand nine hundred and thirty-
     five, the amount of tax, or any part thereof, to which it agrees
     it will become liable. Such estimates shall be made on forms
     prepared and furnished by the Department of Revenue. Upon the
     receipt of any such advance payment of tax, the Department of
     Revenue shall establish a credit on its books, with respect to
     the proper report to be thereafter filed, in favor of the
     corporation paying the same, to the amount of tax paid on
     account, and, in the settlement of the tax accounts of the
     corporation on future reports filed, proper credits shall be
     allowed on each settlement on which an advance payment has been
     so made. The department shall issue its receipt, evidencing
     payment on account of taxes under the provisions of this act,
     which shall show the amount of tax paid in advance and the total
     credit established. At the time the corporation finally pays any
     balance due on any taxes on which an advance payment was made,
     the discount for the advance payment shall be allowed by the
     Department of Revenue and be deducted from the balance due by
     the corporation.
        Section 5.  In any case where any corporation, paying taxes
     in advance under the provisions of this act, shall pay an amount
     for any tax period in excess of the amount thereafter found to
     be legally due after the deduction of the discount allowed by
     this act, the Department of Revenue or the Board of Finance and
     Revenue, as the case may be, shall establish a credit for such
     overpayment to the account of the corporation and issue to the
     corporation a certificate thereof which may be applied against
     any account due or to become due the Commonwealth.
        Section 6.  This act shall become effective immediately upon
     final enactment.