The following words, terms and phrases when used in this article shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:
"Deposits."
"Employe." Any individual to whom wages are paid within the meaning of 26 U.S.C. § 3401.
"Lease." Any leasing transaction in which the lessor would be treated as owner of the leased property under generally accepted accounting principles. All other transactions purporting to be leases shall be treated as loans for purposes of this article.
"Located." An institution is located in this Commonwealth in a taxable year only if any one of the following apply:
"Maintains an office." An institution maintains an office wherever it has established a regular, continuous and fixed place of business.
"Mutual thrift institution" or "institution." Every:
whether the institution is incorporated under any law of this Commonwealth or under the law of the United States, or is incorporated under the law of any other jurisdiction and is located within this Commonwealth.
"Origination of loans." A loan is deemed to have originated in the state in which the office is located which properly treats the loan as an asset on its books or records. However, if an institution maintains an office in a state, the following rules will apply:
"Property located in a state."
"Regular presence of employes." An employe shall be deemed to have a regular presence in a state if:
"State." Any of the several states of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States and any foreign country.
"Taxable net income." The net income of an institution after apportionment and after any deduction for a net loss carryover.
"Taxable year." The taxable year which the institution, or any consolidated group with which the institution participates in the filing of consolidated returns, actually uses in reporting taxable income to the Federal Government. For purposes of this article, the terms "year," "annual year," "fiscal year," "annual or fiscal year," "tax year" and "tax period" shall be the same as the institution's taxable year, as defined in this paragraph.
72 P.S. § 8501