Skip to main content
Find a Lawyer

Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8502.2. Credits

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) For taxable years beginning in 1987 through taxable years beginning in 1991, an institution may elect to take a credit for taxes based on or measured by income or taxes imposed in lieu thereof paid to other states against its tax liability determined under this article.

(b) The amount of the credit shall be determined as follows:

For each state in which the institution is subject to tax, the amount of the credit shall be the lesser of:

(1) the applicable tax actually paid to such state;  or

(2) the total tax due under this article without regard to apportionment multiplied by a fraction the numerator of which is the amount of the institution's income (or other applicable basis of taxation) subject to tax by such state and the denominator of which is the amount of the institution's entire income (or other applicable basis of taxation) to which a system of apportionment or allocation is applied by such state;  except that, if a state does not apply a system of allocation or apportionment, the numerator of such fraction is the amount of the institution's income (or other applicable basis of taxation) which would be subject to taxation in such state if the apportionment fraction were computed in accordance with the provisions of this article.

(c) If exercised, this election shall be in lieu of any other apportionment to which the institution would otherwise be entitled.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8502.2. Credits - last updated January 01, 2026 | https://codes.findlaw.com/pa/title-72-ps-taxation-and-fiscal-affairs/pa-st-sect-72-8502-2/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard