Termination Year
(a)The portion of the termination year of a Pennsylvania S…#
(a) The portion of the termination year of a Pennsylvania S corporation ending before the first day for which the termination is effective shall be treated as a short taxable year for which the corporation is a Pennsylvania S corporation.
(b)The portion of such year beginning on the first day for…#
(b) The portion of such year beginning on the first day for which the termination is effective shall be treated as a short taxable year for purposes of the tax imposed by Article IV.
(c)The allocation of income and expense items to be taken…#
(c) The allocation of income and expense items to be taken into consideration in each short year shall be made in accordance with such regulations as may be issued by the department.
(307.5 amended July 6, 2006, P.L.319, No.67)