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§ 7324.2. Treatment of nonresident partners, members or shareholders

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: December 29, 2017

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 III. Personal Income Tax (Refs & Annos)
Part VII-a. Withholding Tax on Income from Sources Within this Commonwealth (Refs & Annos)
Effective: December 29, 2017
72 P.S. § 7324.2
§ 7324.2. Treatment of nonresident partners, members or shareholders
Currentness
(a) Each nonresident partner, member, shareholder or holder of a beneficial interest shall be allowed a credit for such partner's, member's, shareholder's or holder of a beneficial interest's share of the withholding tax paid by the partnership, association or Pennsylvania S corporation. Such credit shall be allowed for the partner's, member's, shareholder's or holder of a beneficial interest's taxable year in which, or with which, the partnership, association or Pennsylvania S corporation taxable year (for which such tax was paid) ends.
(b) Each nonresident lessor shall be allowed a credit for the nonresident lessor's share of the withholding tax paid by the lessee under section 324.4.1
(c) The credits under this section shall be allowed for the nonresident lessor's taxable year in which the lessee withheld tax.

Credits

1971, March 4, P.L. 6, No. 2, art. III, § 324.2, added 1991, Aug. 4, P.L. 97, No. 22, § 12, effective Jan. 1, 1992. Amended 1997, May 7, P.L. 85, No. 7, § 11, effective July 1, 1997; 2017, Oct. 30, P.L. 672, No. 43, § 24, effective in 60 days [Dec. 29, 2017].

Footnotes

1
72 P.S. § 7324.4.
72 P.S. § 7324.2, PA ST 72 P.S. § 7324.2
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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