Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 8905-G. Carryover, carryback and refund

(a) General rule.--A taxpayer shall be entitled to carry forward a tax credit for a period not to exceed five taxable years from the taxable year in which the tax credit was awarded. Each time the tax credit is carried over to a succeeding taxable year, the tax credit shall be reduced by the amount that was used as a credit during the immediately preceding taxable year.

(b) Application.--A tax credit certificate received by the department in a taxable year shall first be applied against the taxpayer's qualified tax liability for the current taxable year as of the date on which the credit was issued before the tax credit can be applied against a qualified tax liability under subsection (a).

(c) No carryback or refund.--A taxpayer may not carry back or obtain a refund of all or any portion of an unused tax credit granted to the taxpayer under this article.