Section 4.1. Definitions and scope

(a) Definitions. The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:

Act—The act of December 9, 1982 (P. L. 1057, No. 248) (72 P. S. § § 1, 503, 806, 806.1 and 1108).

Fiscal Code (FC)—The Fiscal Code (72 P. S. § § 1—1827.10).

(b) Scope.

(1) The act establishes a uniform interest rate and a uniform method for calculating interest on a daily basis. Also, under certain circumstances, the Department is required to pay interest on overpayments of taxes first due and payable on or after January 1, 1982, and is permitted to make cash refunds of previously determined credits if obligations due the Commonwealth have been paid.

(2) The act repeals other statutes relating to underpayments and overpayments of tax due and payable prior to January 1, 1982. Regulations and rulings concerning taxes due and payable prior to January 1, 1982 are not affected by the act. The rate of interest, method of calculating interest and provisions of law relating to cash refunds for those taxes are governed by statutes, regulations and rulings in effect on the date the tax originally became due and payable. No interest will be paid on overpayments of tax originally due and payable prior to January 1, 1982.

Notation

Cross References

This section cited in 61 Pa. Code § 35.2 (relating to interest, additions, penalties, crimes and offenses).