is made. The amount of the tax credit that a purchaser or
assignee may use against any one qualified tax liability may not
exceed 75% of the qualified tax liability for the taxable year.
The purchaser or assignee may not carry back, obtain a refund of
or assign the tax credit.
Section 1705-J. Time limitations.
Except as provided in section 1704-J(a), a taxpayer is not
entitled to a tax credit for qualified youth employment expenses
incurred in taxable years ending after December 31, 2020.
Section 1706-J. Limitation on credits.
The total amount of tax credits approved by the department
shall not exceed $15,000,000 in any fiscal year.
Section 1707-J. Pass-through entities.
(a) Pass-through entity.--If a pass-through entity has any
unused tax credit under subsection (c), it may elect in writing,
according to procedures established by the Department of
Revenue, to transfer all or a portion of the credit to
shareholders, members or partners in proportion to the share of
the entity's distributive income to which the shareholder,
member or partner is entitled.
(b) Credit utilization.--The credit provided under
subsection (a) is in addition to any tax credit to which a
shareholder, member or partner of a pass-through entity is
otherwise entitled under this article. A pass-through entity and
a shareholder, member or partner of a pass-through entity may
not claim a credit under this article for the same qualified
youth employment expense.
(c) Application.--A shareholder, member or partner of a
pass-through entity to whom a credit is transferred under
subsection (a) shall immediately claim the credit in the taxable
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