Address of Property - Fill in the full address of the property in which licensed activity will take place. Please include ZIP Code. 2.Losses are only recognized on transactions entered into for profit, such as investments, business property, and real estate. Under Pennsylvania law, a business with property or inventory in Pennsylvania is subject to Pennsylvania taxes. What Is the Sales Tax License? Key Points:• NPT focuses on net profits from rental or business activities in the current tax year. If you own the property under your personal name, you will use your SSN. If you are selfemployed or receive other income (ie. V (relating to personal income tax). Employee business expenses are allowable deductions as determined under Article III of the Tax Reform Code of 1971.