Bill > SB695

This bill modifies the tax filing requirements for sales and use tax in Pennsylvania, introducing changes to how businesses report and pay their taxes based on their annual tax liability. Currently, businesses file quarterly or monthly returns, but starting January 1, 2026, the filing frequency will depend on a business's tax liability. Specifically, businesses with a tax liability of $1,200 or less in the fourth quarter of the preceding year will file annual returns, while those with tax liabilities between $1,200 and $25,000 will file quarterly returns. Businesses with tax liabilities between $25,000 and $100,000 must submit monthly estimated payments, with the first payment being 50% of the previous year's tax liability for the same month. For businesses with tax liabilities of $100,000 or more, monthly filings are required with specific payment calculations. The bill also maintains existing provisions for penalty assessments for late or insufficient payments and allows the Department of Revenue to determine payment submission methods and potentially require electronic filing. These changes aim to streamline tax reporting and provide more flexible filing options based on a business's tax liability.

Budget and Finance

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=S&type=B&bn=695