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§ 8706-I. Amount of tax credits

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 1, 2013

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-I. Community-Based Services Tax Credit (Refs & Annos)
Effective: July 1, 2013
72 P.S. § 8706-I
§ 8706-I. Amount of tax credits
Currentness
(a) General rule.--The total aggregate amount of all tax credits approved shall not exceed $3,000,000 in a fiscal year.
(b) Activities.--No tax credit shall be approved for activities that are part of a business firm's normal course of business.
(c) Tax liability.--A tax credit granted for any one taxable year may not exceed the tax liability of a business firm.
(d) Use.--A tax credit not used in the taxable year the contribution was made may not be carried forward or carried back and is not refundable or transferable.

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-I, § 1706-I, added 2012, July 2, P.L. 751, No. 85, § 19, effective July 1, 2013.
72 P.S. § 8706-I, PA ST 72 P.S. § 8706-I
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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