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Printable Form 4626 Allegheny Pennsylvania: What You Should Know
A completed Form 4626 must be attached, or accompanied by, an explanation statement, if required by law. This form must be filed prior to the corporation's annual tax return. For information on the annual assessment of the alternative minimum tax, call the City of Pittsburgh Department of Budget and Management at. The Pittsburgh Chapter has approved amendments to the 2023 Pittsburgh Tax Assessment Act and, as an effective action, the Chapter has established an Alternative Minimum Tax, which will be applied to every person and business engaged in business within the City of Pittsburgh for each tax year beginning January 1, 2019. Effective as of December 12, 2017, a corporation with a qualifying share count as an individual for the purposes of the Alternative Minimum Tax if the share owned directly by the corporation or jointly by the corporation and two or more shareholders or owners has a fair market value of 250,000, the aggregate of all qualifying shares owned directly by the corporation or jointly by the corporation and two or more shareholders or owners otherwise entitling to an additional deduction in respect of an income tax year. The Alternative Minimum Tax will be paid by that corporation on the corporation's annual tax return. Any entity that does not have a financial interest in an entity that pays the Alternative Minimum Tax will be exempt from the tax unless an explanation of reasonable cause is required. The purpose of the Alternative Minimum Tax is to ensure businesses in the City of Pittsburgh get adequate financial support from City and State for activities with low economic impact. The Alternative Minimum Tax will be paid by those entities that choose to pay it. Businesses that elect not to pay the tax will be subject to the alternative corporate income tax and business franchise tax. For further information see Chapter 53. Forms: City of Pittsburgh Tax Rates — Office of Finance Form 4626. Department of the Treasury. Internal Revenue Service. Tax Return Deduction — Alternative Minimum Tax — Corporation. ▷ Attach to the corporation's individual income tax return. Forms — Allegheny County These sample forms may be useful when filing documents for the civil and family courts. If you have any questions, consult an attorney. We do not provide legal 2015 CT-1 PA Corporation Tax Instructions (REV-1200) This form must be used for all corporate tax reports filed on or after Jan. 1, 2014, regardless of tax year. 5.
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