§ 8778-L. Pass-through entity
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: January 3, 2023
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-L. Pennsylvania Economic Development for a Growing Economy (PA Edge) Tax Credits (Refs & Annos)
Subarticle E. Semiconductor Manufacturing and Biomedical Manufacturing and Research
Effective: January 3, 2023
72 P.S. § 8778-L
§ 8778-L. Pass-through entity
(a) Election.--If a pass-through entity has an unused tax credit, the pass-through entity may elect, in writing, according to procedures established by the department, to transfer all or a portion of the tax credit to shareholders, members or partners in proportion to the share of the entity's distributive income to which the shareholders, members or partners are entitled.
Credits
1971, March 4, P.L. 6, No. 2, art. XVII-L, § 1778-L, added 2022, Nov. 3, P.L. 1695, No. 108, § 16, effective in 60 days [Jan. 3, 2023].
72 P.S. § 8778-L, PA ST 72 P.S. § 8778-L
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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