Example 1. The taxpayer, which files on a calendar year basis, issued common stock on July 1. The value of the common stock issued is $300,000. The net worth at the end of the tax year is $1 million. The net worth to be used in computing capital stock value is $1 million.
Example 2. The taxpayer, which reports on a calendar year basis, has discontinued business operations. On January 1 of the taxable year, taxpayer has a net worth of $100,000 and total assets of $1 million. On December 1 of the taxable year, taxpayer distributes all of its assets. The net worth to be used in computing capital stock value is zero.
61 Pa. Code § 155.27
The provisions of this § 155.27 issued under section 408 of the Tax Reform Code of 1971 (72 P. S. § 7408).
This section cited in 61 Pa. Code § 155.10 (relating to single factor apportionment); and 61 Pa. Code § 155.21 (relating to general).