§ 8830-G. Claiming the tax credit
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: September 21, 2020
Effective: September 21, 2020
72 P.S. § 8830-G
§ 8830-G. Claiming the tax credit
(a) Presentation.--Beginning July 1, 2020, upon presenting a tax credit certificate to the Department of Revenue, a business firm may claim a tax credit of up to 20% of the amount awarded under section 1829-G1 for each of the taxable years that includes the third, fourth, fifth, sixth and seventh anniversaries of the closing date, exclusive of any tax credit amounts carried over under section 1831-G(b).2
(b) Allowance.--The Department of Revenue shall allow a tax credit against any tax due under Article VII, VIII, IX or XV,3 the tax under Article XVI of the act of May 17, 1921 (P.L. 682, No. 284),4 known as The Insurance Company Law of 1921, amounts imposed under section 212 of the act of May 17, 1921 (P.L. 789, No. 285),5 known as The Insurance Department Act of 1921, any retaliatory taxes imposed by this Commonwealth or any tax substituted in lieu of one of the taxes under this subsection.
Credits
1971, March 4, P.L. 6, No. 2, art. XVIII-G, § 1830-G, added 2016, July 13, P.L. 526, No. 84, § 38.1, imd. effective. Amended 2019, June 28, P.L. 50, No. 13, § 19, effective July 1, 2019; 2020, July 23, P.L. 665, No. 68, § 5, effective in 60 days [Sept. 21, 2020].
Footnotes
72 P.S. § 8829-G.
72 P.S. § 8831-G.
72 P.S. §§ 7701 et seq., 7801 et seq., 7901 et seq., 8501 et seq.
40 P.S. § 991.1601 et seq.
40 P.S. § 50.
72 P.S. § 8830-G, PA ST 72 P.S. § 8830-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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