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§ 8831-G. Restrictions on tax credit utilization

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 13, 2016

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 XVIII-G. Manufacturing and Investment Tax Credit (Refs & Annos)
Part II. Rural Jobs and Investment Tax Credit
Effective: July 13, 2016
72 P.S. § 8831-G
§ 8831-G. Restrictions on tax credit utilization
Currentness
(a) Limitation.--A tax credit to be applied in any one year may not exceed the qualified tax liability of the business firm or affiliate to which a tax credit was sold or assigned for that taxable year.
(b) Carryover.--A tax credit not used in the period the credit is first eligible for use under subsection (a) may be carried over for the next five succeeding calendar years until the full tax credit has been allowed.

Credits

1971, March 4, P.L. 6, No. 2, art. XVIII-G, § 1831-G, added 2016, July 13, P.L. 526, No. 84, § 38.1, imd. effective.
72 P.S. § 8831-G, PA ST 72 P.S. § 8831-G
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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