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§ 8754-L. Use of tax credits

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 D. Regional Clean Hydrogen Hubs
Effective: January 3, 2023
72 P.S. § 8754-L
§ 8754-L. Use of tax credits
Currentness
(a) Initial use.--Prior to sale or assignment of a tax credit under section 1756-L,1 a qualified taxpayer must first use a tax credit against the qualified tax liability incurred in the taxable year for which the tax credit was approved.
(b) Eligibility.--The tax credit may be applied against up to 20% of the qualified taxpayer's qualified tax liabilities incurred in the taxable year for which the tax credit was approved.
(c) Limit.--A qualified taxpayer that has been granted a tax credit under this subarticle shall be ineligible for any other tax credit provided under this act or a tax benefit as defined in section 1701-A.1.2

Credits

1971, March 4, P.L. 6, No. 2, art. XVII-L, § 1754-L, added 2022, Nov. 3, P.L. 1695, No. 108, § 16, effective in 60 days [Jan. 3, 2023].

Footnotes

1
72 P.S. § 8756-L.
2
72 P.S. § 8701-A.1.
72 P.S. § 8754-L, PA ST 72 P.S. § 8754-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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