Pennsylvania HB1355 amends the sales and use tax to increase discounts for prompt tax payments.
HB1355 amends the Tax Reform Code of 1971 to adjust the discount licensees can receive for prompt tax payments. The discount is intended as compensation for the expense of collecting and remitting the tax. The bill increases the maximum discount to the lesser of one percent of the tax collected or a fixed dollar amount based on the frequency of tax filings. Monthly filers can receive up to $50, quarterly filers up to $150, and semiannual filers up to $300. The changes take effect 60 days after the act's passage.
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