61 Pa. Code § 103.15 - Dividends
(a) Dividends shall
be any distribution in cash or property made by a corporation, association or
business trust from the following sources:
(1)
Accumulated earnings and profits.
(2) Earnings and profits of the year in which
such dividend is paid.
(b) Dividends shall not include a
distribution of the stock of a corporation made by the corporation originally
issuing such stock to its own stockholders if such distribution is not treated
as personal income for Federal individual income tax purposes.
Notes
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