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Official Website

of the Commonwealth of Pennsylvania

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    Corporation Taxes

    Bank, Trust Company and Title Insurance Company Shares Tax

    The bank and trust company shares tax is imposed at a rate of .95 percent on every bank and trust company conducting business in Pennsylvania that has capital stock.

    Domestic title insurance companies are subject to the title insurance company shares tax at a rate of 1.25 percent.

    Overview

    The bank and trust company shares tax is imposed on every bank and trust company having capital stock and doing business in Pennsylvania. The tax is imposed annually on the value of shares as of January 1. Beginning January 1, 2014, the taxable value of shares is computed on the most recent year-end value of an institution’s total bank equity capital, adjusted to allow a deduction for certain types of goodwill and United States obligations. The Pennsylvania share of total bank equity capital is determined by a single receipts factor.

    Credit unions are not subject to these taxes.

    A report and payment of 100 percent of the tax is due March 15 each year for the value of shares on the preceding January 1.

    For detailed and historic Pennsylvania shares tax information, please review the Tax Compendium.

    Taxpayers subject to one or more of the taxes explained here may also be subject to the corporate loans tax, surplus lines tax, and/or the gross premiums tax for premiums paid to unauthorized foreign insurance companies.