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§ 8704-G. Use of tax credits

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 2, 2012

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-G. Resource Manufacturing Tax Credit (Refs & Annos)
Effective: July 2, 2012
72 P.S. § 8704-G
§ 8704-G. Use of tax credits
Currentness
(a) Initial use.--Prior to sale or assignment of a tax credit under section 1706-G,1 a qualified taxpayer must first use a tax credit against the qualified tax liability incurred in the taxable year for which the tax credit was approved.
(b) Eligibility.--The credit may be applied against up to 20% of the qualified taxpayer's qualified tax liabilities incurred in the taxable year for which the credit was approved.
(c) Application.--The tax credit shall be applied against the qualified taxpayer's liability only after all other statutory tax credits and deductions available to the qualified taxpayer have been used.
(d) Limit.--A qualified taxpayer that has been granted a tax credit under this article shall be ineligible for any other tax credit provided under this act.

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-G, § 1704-G, added 2012, July 2, P.L. 751, No. 85, § 19, imd. effective.
<See 72 P.S. § 8711-G for expiration of Article XVII-G.>

Footnotes

1
72 P.S. § 8706-G.
72 P.S. § 8704-G, PA ST 72 P.S. § 8704-G
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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