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Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 7227. Discount

Current as of January 01, 2022 | Updated by FindLaw Staff

<Section 51(1) of Act 2016, July 13, P.L. 526, No. 84, provides that the amendment of 72 P.S. § 7227 by that Act shall apply to returns due on or after August 1, 2016.>

If a return is filed by a licensee and the tax shown to be due thereon less any discount is paid all within the time prescribed, the licensee shall be entitled, as compensation for the expense of collecting and remitting the tax and as a consideration of the prompt payment of the tax, to credit and apply against the tax payable by the licensee a discount of the lesser of:

(1) one per cent of the amount of the tax collected; or

(2) as follows:

(i) twenty-five dollars ($25) per return for a monthly filer;

(ii) seventy-five dollars ($75) per return for a quarterly filer; or

(iii) one hundred fifty dollars ($150) per return for a semiannual filer.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 7227. Discount - last updated January 01, 2022 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-7227/

Read this complete Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 7227. Discount on Westlaw

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