Pennsylvania Board Partially Grants Bank’s Sales/Use Tax Refund

The Pennsylvania Board of Finance and Revenue (BFR) issued a decision partially granting and partially denying the taxpayer’s petition for review of a refund for sales/use tax for the period from Jan. 3, 2023, to Oct. 16, 2024. The taxpayer, a financial institution headquartered in the state, had filed a petition arguing that it paid sales tax and/or remitted use tax on several exempt transactions. The Board found that the taxpayer was not entitled to a refund for tax paid on canned software for financial institutions, financial institution security equipment, and certain construction activities, as it failed to establish that ...