On June 15, 2012, the Department of Community and Economic Development (DCED) updated and officially released withholding tax rates on the Official Register in compliance with Act 32 of 2008 for earned income tax (EIT) and local services tax (LST). The updated tax rates become effective July 1, 2012.
Of significance is the official release of the long-standing nonresident rate of 1.5% for the City of Beaver Falls. As discussed in an earlier Insight, the initial publication of the official register listed the nonresident rate at 0.5% despite the existence of the higher rate since 1994.
The DCED is required to update and officially release the withholding rates on the Official Register every June 15 and December 15.
Should you have any questions regarding Act 32 or earned income tax, contact the state and local tax professionals at Schneider Downs.
© 2012 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.
This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax related matter.