The Senate Finance Committee today (May 1) approved a measure clarifying the tax status of banks’ purchases of certain software items and security equipment, according to Committee Chairman Scott Hutchinson (R-21).
Senate Bill 568, introduced by Senator Hutchinson, clarifies the Sales and Use Tax on financial institutions for canned and customized software and security equipment.
“While Pennsylvania has taxed canned software, the Revenue Department had until recently taken the position that bank core processor services and purchase of canned software and related support services should not be taxed. But, that has since changed,” said Senator Hutchinson. “My bill clarifies the application of the tax and will preserve the long-standing policies that have reasonably applied to the banking community.”
The Committee also approved Senate Bill 613, a measure introduced by Senator Bob Mensch (R-24) amends the Administrative Code repealing provisions relating to employees with access to federal tax information and providing for criminal history background checks of employees and contractors with access to federal tax information.
Contacts: Justin Leventry (717) 787-9684 email@example.com