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§ 8753-D. Credit for qualified video game production expenses

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 13, 2016

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 5. Tax Reform Code of 1971 (Refs & Annos)
Article XVII-D. Entertainment Production Tax Credit (Refs & Annos)
Subarticle D. Video Game Production (Refs & Annos)
Effective: July 13, 2016
72 P.S. § 8753-D
§ 8753-D. Credit for qualified video game production expenses
Currentness
<Section 51(6) of Act 2016, July 13, P.L. 526, No. 84, provides that the addition of Subarticles C and D of Article XVII-D by that Act shall apply to fiscal years beginning after June 30, 2016.>
(a) Application.--A taxpayer may apply to the department for a tax credit under this section. The application shall be on the form required by the department.
(b) Review and approval.--The department shall review and approve or disapprove the applications in the order in which they are received. Upon determining that the taxpayer has incurred or will incur qualified video game production expenses, the department may approve the taxpayer for a tax credit.
(c) Contract.--If the department approves the taxpayer's application under subsection (b), the department and the taxpayer shall enter into a contract containing the following:
(1) An itemized list of production expenses incurred or to be incurred for the video game.
(2) An itemized list of Pennsylvania production expenses incurred or to be incurred for the video game.
(3) With respect to a contract entered into prior to completion of production, a commitment by the taxpayer to incur the qualified video game production expenses as itemized.
(4) The principal production start date.
(5) Any other information the department deems appropriate.
(c.1) Prohibition.--A tax credit may not be awarded for fiscal years prior to fiscal year 2017-2018.
(d) Certificate.--Upon execution of the contract required by subsection (c), the department shall award the taxpayer a video game production tax credit and issue the taxpayer a video game production tax credit certificate.

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-D, § 1753-D, added 2016, July 13, P.L. 526, No. 84, § 30, imd. effective.
72 P.S. § 8753-D, PA ST 72 P.S. § 8753-D
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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