Pennsylvania SB473 amends sales and use tax to provide discounts for prompt tax payments.
Pennsylvania SB473 amends the Tax Reform Code of 1971 to provide discounts for prompt tax payments. If a return is filed and the tax is paid within the prescribed time, a licensee can receive a discount. The discount is the lesser of one percent of the tax collected or a fixed amount based on filing frequency. Additionally, there are discounts based on the amount of taxable revenue. The bill takes effect in 60 days.
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