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CCH Axcess Tax

Introduction to the Pennsylvania S Corporation Return

Pennsylvania S or C corporation returns are prepared for calendar, fiscal, and short year corporations.

Fed S Corporation Filing as a PA S Corporation - Summary

If a federal S corporation has elected to be taxed as an S corporation in Pennsylvania, both S corporation and C corporation forms (pages 1, 2, 4, 5 and 6) are required to be filed. Refer to the "Fed S Corporation Filing as a Pennsylvania C Corporation" section of these instructions for information regarding preparation of the Pennsylvania input as a C corporation.

Submit Pennsylvania worksheets with the consolidating unit of a federal consolidated S corporation (QSSS) to produce a Pennsylvania S corporation including Pennsylvania qualified subchapter S parent and subsidiaries. The Pennsylvania corporation is produced by the "generic" consolidated return method.

Using entries from the federal tax return and Pennsylvania state input, the following forms are prepared for the Pennsylvania return:

• Form PA-20S, S Corporation Information Return
• Shareholder Directory
• Schedule A, Interest Income
• Schedule B, Dividend and Capital Gains Distribution Income
• Schedule D, Sale, Exchange and Disposition of Property (pages 1 through 4)
• Schedules E, Rent and Royalty Income
• Schedule G-L, Credit for Taxes Paid to Another State
• Schedule H, Apportionment Formula
• Schedule J, Income from Estates or Trusts
• Schedule M, Reconciliation of Federal Taxable Income to PA Taxable Income (pages 1 and 2)
• Schedule NW, Nonresident Withholding Payments
• Schedule OC, Other Credits
• Schedule T, Gambling and Lottery Winnings
• Schedule RK-1, Resident Shareholder's Share of Income, Loss and Credits
• Schedule NRK-1, Nonresident Shareholder's Share of Income, Loss and Credits
• Form PA-40ES, Declaration of Estimated Tax Withholding
• Form PA-V, Final Catch-up Payment Voucher
• Form PA-40NRC, Nonresident Consolidated Return
• Form PA-40NRC-I, Directory of Nonresident Individual Members
• Form RCT-101, Corporate Tax Report (pages 1,2,4,5 & 6 calculated)
• Form RCT-101-I, Inactive Corporate Report
• Form RCT-101KOZ, Keystone Opportunity Zone
• Form RCT-102, One Factor Capital Stock Tax Manufacturing Exemption Schedule
• Form RCT-103, Net Operating Loss Schedule
• Form RCT-105, Three Factor Capital Stock/Foreign Franchise Tax Manufacturing Exemption Schedule
• Form RCT-106, Insert Sheet - Tangible and Intangible Asset Exemption, One and Three Factor Apportionment
• Form REV-276 Extension of Time to File (for 40NRC only)
• Form REV-414, S Corporation Withholding Tax Worksheet
• Form REV-798, Schedule C-2 (PA Dividend Deduction Schedule) & Schedule X (List of Corporations Which this Corporation Owns a Majority of Stock)
• Form REV-799, Schedule C-3 (Adjustment for Bonus Depreciation) & Schedule C-4 (Adjustment for Sale of Section 168(k)) Property
• Form REV-853, Annual Extension Request
• Form REV-857, Estimated Tax Worksheet and Payment Vouchers (for Capital Stock/Foreign Franchise Estimated Tax Only)
• Form REV-860, Schedule C-5 Schedule of Taxes
• Form REV-934, Schedule of Non-Business Income
• Form REV-986, Claim of Exemption under PL86-272
• Form REV-1175, Schedule AR
• Form REV-1605, Schedule CO - Names of Corporate Officers
• Form REV-961, Schedule A-2, Reconciliation of Retained Earnings of a Federal Subchapter S Corporation
• Form REV-961, Schedule A-3, Adjustments to Net Income Per Books copy of the federal return is provided for filing with the Pennsylvania return.

Amended Returns

The transmittal letters and filing instructions will only print for states that are being amended. If there is a state in the return that is not being amended, or the federal return is not being amended, that state return or the federal return will not be mentioned in the transmittal letters. Also, the cover letter is not prepared if any state return or the federal return is being amended.

Fed S Corporation Filing as a PA C Corporation - Summary

If the corporation has not been qualified as a Pennsylvania S corporation, enter an "X" in the corresponding box on the Basic Data Section of the Basic Information worksheet under the Pennsylvania RCT-101 category. The following forms are prepared:

• Form RCT-101, Corporate Tax Report
• Form RCT-101-I, Inactive Corporate Report
• Form RCT-101KOZ, Keystone Opportunity Zone
• Form RCT-102, One Factor Capital Stock Tax Manufacturing Exemption Schedule
• Form RCT-103, Net Operating Loss Schedule
• Form RCT-105, Three Factor Capital Stock/Foreign Franchise Tax Manufacturing Exemption Schedule
• Form RCT-106, Insert Sheet - Tangible and Intangible Asset Exemption, One and Three Factor Apportionment
• Form REV-934, Schedule of Non-Business Income
• Form REV-961, Schedule A-3 Adjustment to Net Income Per Books
• Form REV-986, Claim of Exemption under PL86-272
• Form REV-798, Schedule C-2 (PA Dividend Deduction Schedule) & Schedule X (List of Corporations Which this Corporation Owns a Majority of Stock)
• Form REV-799, Schedule C-3 (Adjustment for Bonus Depreciation) & Schedule C-4 (Adjustment for Sale of Section 168(k)) Property
• Form REV-860, Schedule C-5, Schedule of Taxes
• Form REV-853, Annual Extension Request
• Form REV-857, Estimated Tax Worksheet and Payment Vouchers
• Form REV-961, Schedule A-3, Adjustments to Net Income Per Books
• Form REV-1175, Schedule AR
• Form REV-1605, Corporate Officers Schedule

A copy of the federal return is provided for filing with the Pennsylvania return. The computation of Federal taxable income calculated as a C corporation is included as a printed page one of Form 1120 and as an informational attachment to Form RCT-101.