Pennsylvania Code & Bulletin

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The Pennsylvania Code website reflects the Pennsylvania Code changes effective through 52 Pa.B. 2550 (April 23, 2022).

61 Pa. Code § 153.11. Definition of ‘‘taxable income.’’


§ 153.11. Definition of ‘‘taxable income.’’

 As used in this chapter, the term ‘‘taxable income’’ means ‘‘Federal taxable income before net operating loss deduction and special deductions’’ (presently Line 28 of Page 1 of Federal IRS Form 1120 or Line 24 of Page 1 of Federal IRS Form 1120-A) as returned to and ascertained by the Federal government and as modified or adjusted under section 401(3)1. of the TRC (72 P. S. §  7401(3)1.) and under this chapter, unless the context clearly indicates otherwise.


   The provisions of this §  153.11 amended under section 408 of the Tax Reform Code of 1971 (72 P. S. §  7408).


   The provisions of this §  153.11 amended November 3, 1978, effective November 4, 1978, 8 Pa.B. 3035; amended January 1, 1987, effective January 17, 1987, 17 Pa.B. 273; amended March 19, 1993, effective March 20, 1993, 23 Pa.B. 1322. Immediately preceding text appears at serial pages (115309) to (115310).

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