Article by Jennifer Karpchuk on “COVID-19: Pennsylvania and Philadelphia’s Actions to Aid Taxpayers,”
In an article published on April 27, 2020 in State Tax Notes, Philadelphia-based Shareholder Jennifer W. Karpchuk discusses the state and local tax responses to aid the business community that is struggling because of COVID-19 in the Pennsylvania and Philadelphia area.
“In Pennsylvania, businesses whose actual tax liability is more than $25,000 during the third quarter of the preceding year are required to make monthly sales tax prepayments,” writes Karpchuk. “To help businesses affected by COVID-19, the commonwealth announced that it was waiving the prepayment requirement for April, May, and June. Therefore, businesses must simply remit the sales tax that was actually collected during the prior month.”
In addition to sales tax, Karpchuk provides other updates, which are changing frequently, including business income and receipts tax, net profits tax, school income tax, wage tax and more.
To view the full article, click here.