PRINTER'S NO. 2532
No. 1802 Session of 1990
INTRODUCED BY FISHER, WENGER, SHUMAKER, SALVATORE, REIBMAN AND
SHAFFER, OCTOBER 1, 1990
REFERRED TO FINANCE, OCTOBER 1, 1990
AN ACT
1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2 act relating to tax reform and State taxation by codifying
3 and enumerating certain subjects of taxation and imposing
4 taxes thereon; providing procedures for the payment,
5 collection, administration and enforcement thereof; providing
6 for tax credits in certain cases; conferring powers and
7 imposing duties upon the Department of Revenue, certain
8 employers, fiduciaries, individuals, persons, corporations
9 and other entities; prescribing crimes, offenses and
10 penalties," further providing for excluded transactions.
11 The General Assembly of the Commonwealth of Pennsylvania
12 hereby enacts as follows:
13 Section 1. Section 1102-C.3(12) of the act of March 4, 1971
14 (P.L.6, No.2), known as the Tax Reform Code of 1971, added July
15 2, 1986 (P.L.318, No.77), is amended to read:
16 Section 1102-C.3. Excluded Transactions.--The tax imposed by
17 section 1102-C shall not be imposed upon:
18 * * *
19 (12) A transfer made pursuant to the statutory merger or
20 consolidation of a corporation or association or statutory
21 division of a nonprofit corporation, except where the department
1 reasonably determines that the primary intent for such merger,
2 consolidation or division is avoidance of the tax imposed by
3 this article.
4 * * *
5 Section 2. This act shall take effect in 60 days.
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