Tax imposed on residents.

(a) There shall be imposed an annual tax at the rate prescribed in Article III of the TRC (72 P. S. § § 7301—7361) on the privilege of residents receiving specified classes of income, without set off of losses from one class against income from another class, and without carrying losses back or forward from year to year.

(b) The tax rate to be used for the computation of tax by calendar and fiscal year filers whose year begins in the following taxable years is: 1983…2.45% 1984…2.40% 1985…2.35% 1986…2.16% 1987…2.10% Authority The provisions of this § 103.1 amended under section 354 of the Tax Reform Code of 1971 (72 P. S. § 7354). Source The provisions of this § 103.1 amended January 20, 1984, effective January 21, 1984, 14 Pa.B. 222; amended January 2, 1987, effective January 3, 1987, 17 Pa.B. 59. Immediately preceding text appears at serial pages (87100). Cross References This section cited in 61 Pa. Code § 101.9 (relating to trusts); and 61 Pa. Code § 105.6 (relating to illustration of the provisions of this chapter).