(a) Authorization.--Upon approval by the Department of Revenue, a qualified taxpayer may sell or assign, in whole or in part, a tax credit granted to the taxpayer under this article.
(b) Application.--The following shall apply:
(1) To sell or assign a tax credit, a qualified taxpayer must file an application for the sale or assignment of the tax credit with the Department of Revenue. The application must be on a form required by the Department of Revenue.
(2) The Department of Revenue shall approve a sale or assignment if the purchaser or assignee has:
(i) filed all required State tax reports and returns for all applicable taxable years; and
(ii) paid any balance of State tax due as determined by assessment or determination by the Department of Revenue and not under timely appeal.
Credits
1971, March 4, P.L. 6, No. 2, art. XVII-J, § 1710-J, added 2016, July 13, P.L. 526, No. 84, § 33, imd. effective.
72 P.S. § 8710-J, PA ST 72 P.S. § 8710-J
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
