If a taxpayer has a loss on personal use property or other property where a loss is not permitted, the transaction must still be reported. Pennsylvania law allows IRC section 179 expenses, in effect on Jan.If you are thinking about purchasing a business from someone, you should be aware of Pennsylvania's Bulk Sale Law. What are the personal income tax reporting requirements when a sale of restricted tax credits occurs? If you are selfemployed or receive other income (ie. The Department of Revenue has created this guide to help business owners understand their filing obligations. A guide for businesses needing straightforward answers to Pennsylvania Sales and Use Tax questions and audit guidance.