72 Pa. Stat. § 7227

Current through P.A. Acts 2023-32

Section 7227 - Discount

Section 227. Discount.--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.

72 P.S. § 7227

Amended by P.L. TBD 2016 No. 84, § 3, eff. 7/13/2016.

1971, March 4, P.L. 6, No. 2, art. II, § 227.