H1059B1630A02855 DMS:EJH 11/05/21 #90 A02855
AMENDMENTS TO HOUSE BILL NO. 1059
Sponsor: REPRESENTATIVE HICKERNELL
Printer's No. 1630
Amend Bill, page 1, lines 12 through 18, by striking out
"WITHHOLDING TAX REQUIREMENT FOR" in line 12 and all of lines 13
through 18 and inserting
declarations of estimated tax.
Amend Bill, page 1, lines 24 and 25; page 2, line 1; by
striking out all of said lines on said pages and inserting
Section 1. Section 325(a) and (d) introductory paragraph of
the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform
Code of 1971, are amended to read:
Amend Bill, page 2, lines 2 through 30; pages 3 and 4, lines
1 through 30; page 5, lines 1 through 29; by striking out all of
said lines on said pages and inserting
Section 325. Declarations of Estimated Tax.--(a) (1) Every
resident and nonresident individual, trust and estate shall at
the time hereinafter prescribed make a declaration of his or its
estimated tax for the taxable year, containing such information
as the department may prescribe by regulations, if his or its
income, other than from income on which tax is withheld under
this article, can reasonably be expected to exceed [eight
thousand dollars ($8,000).] the following dollar amount for the
applicable taxable year:
TAXABLE YEAR DOLLAR AMOUNT
2022 and prior $8,000
2023 9,500
2024 11,000
2025 14,000
2026 17,000
2027 20,000
(2) For taxable years beginning after December 31, 2027, the
dollar amount under paragraph (1) shall increase annually by
five hundred dollars ($500). The department shall submit a
notice containing the new dollar amount for the taxable year to
the Legislative Reference Bureau for publication in the
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Pennsylvania Bulletin.
* * *
(d) Except as hereinafter provided, the date for filing a
declaration of estimated tax shall depend upon when the resident
or nonresident individual, trust or estate determines that his
or its income on which no tax has been withheld under this
article can reasonably be expected to exceed [eight thousand
dollars ($8,000) in the taxable year,] the dollar amount under
subsection (a), as follows:
* * *
Amend Bill, page 5, line 30, by striking out "5" and
inserting
2
Amend Bill, page 6, line 2, by striking out "6" and inserting
3
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