more than $10,000,000 in tax credits for a single taxable year
as follows:
(1) Not less than $5,000,000 shall be allocated
exclusively for small businesses.
(2) The remainder shall be allocated to applicants that
are not small businesses.
(c) Duration of tax credit --A tax credit awarded under this
article is limited to the qualified liability of a taxpayer in
the taxable year in which the automated external defibrillator
was purchased. The tax credit may not be sold, assigned, passed
through, carried forward, carried back or refunded. No tax
credits granted under this article shall be applied against any
tax withheld by an employer from an employer under Article III.
Section 1805-I. Shareholder, owner or member pass-through.
(a) Pennsylvania S corporation shareholder.--If a
Pennsylvania S corporation does not have an eligible tax
liability against which the tax credit may be applied, a
shareholder of the Pennsylvania S corporation shall be entitled
to a tax credit equal to the tax credit determined for the
Pennsylvania S corporation for the taxable year multiplied by
the percentage of the Pennsylvania S corporation's distributive
income to which the shareholder is entitled.
(b) Pass-through entity owner or member.--If a pass-through
entity other than a Pennsylvania S corporation does not have an
eligible tax liability against which the tax credit may be
applied, an owner or member of the pass-through entity is
entitled to a tax credit equal to the tax credit determined for
the pass-through entity for the taxable year multiplied by the
percentage of the pass-through entity's distributive income to
which the owner or member is entitled.
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