§ 8702-G. Definitions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: December 29, 2017
Effective: December 29, 2017
72 P.S. § 8702-G
§ 8702-G. Definitions
The following words and phrases when used in this article shall have the meanings given to them in this section unless the context clearly indicates otherwise:
“Company.” Any corporation, partnership, limited liability company, limited liability partnership, business trust, affiliate, unincorporated joint venture or other business entity, doing business within this Commonwealth.
“Department.” The Department of Revenue of the Commonwealth.
“Downstream company.” Includes a company that uses chemical products or chemical compounds manufactured or processed by a qualified taxpayer as a raw material in its production process in this Commonwealth.
“Ethane.” A colorless, odorless gaseous alkane, C2H6, which occurs as a constituent of natural gas and is used as the raw material in the manufacturing of ethylene.
“Ethylene.” An organic hydrocarbon compound with the formula C2H4 or H2C=CH2, that is derived from natural gas and petroleum.
“Gallon.” A United States liquid gallon equal to a volume of 231 cubic inches and equal to 3.785411784 liters or 0.13368 cubic feet, where volumetric measurements made at ambient flowing conditions are typically adjusted for composition and to standard conditions using established industry standard practices.
“Pass-through entity.” Any of the following:
(1) A partnership as defined in section 301(n.0).1
(3) An unincorporated entity subject to section 307.21.2
“Qualified taxpayer.” A company that satisfies all of the following:
“Tax credit.” The resource manufacturing tax credit provided under this article.
“Upstream company.” Includes a company that is engaged in the exploration, development, production, processing, refining or transportation of natural gas, natural gas liquids or petroleum in this Commonwealth.
Credits
1971, March 4, P.L. 6, No. 2, art. XVII-G, § 1702-G, added 2012, July 2, P.L. 751, No. 85, § 19, imd. effective. Amended 2017, Oct. 30, P.L. 672, No. 43, § 36, effective in 60 days [Dec. 29, 2017].
<See 72 P.S. § 8711-G for expiration of Article XVII-G.>
Footnotes
72 P.S. § 7301.
72 P.S. § 7307.21.
72 P.S. §§ 7301 et seq., 7401 et seq., 7601 et seq. (expired), 7701 et seq., 7801 et seq., 7901 et seq., 8101 et seq., 8501 et seq.
72 P.S. § 7316.1.
72 P.S. § 8702-G, PA ST 72 P.S. § 8702-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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