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§ 8703-G. Application and approval of tax credit

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. § 8703-G
§ 8703-G. Application and approval of tax credit
Currentness
(a) Rate.--The tax credit shall be equal to $0.05 per gallon of ethane purchased and used in manufacturing ethylene in this Commonwealth by a qualified taxpayer.
(b) Application.--
(1) A qualified taxpayer may apply to the department for a tax credit under this section.
(2) The application must be submitted to the department by March 1 for the tax credit claimed for ethane purchased and used by the qualified taxpayer during the prior calendar year. The application must be on the form required by the department.
(3) The department may require information necessary to document the amount of ethane purchased and used.
(c) Review and approval.--
(1) The department shall review and approve or disapprove the applications by March 20.
(2) Upon approval, the department shall issue a certificate stating the amount of tax credit granted for ethane purchased in the prior calendar year.

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-G, § 1703-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.>
72 P.S. § 8703-G, PA ST 72 P.S. § 8703-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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