Pennsylvania Statutes Title 73 P.S. Trade and Commerce § 1649.705. Carryover, refund, assignment and carryback of credit

(a) Carryover.--If the taxpayer cannot use the entire amount of the alternative energy production tax credit for the taxable year in which the alternative energy production tax credit is first approved, the excess may be carried over to succeeding taxable years and used as a credit against the qualified tax liability of the taxpayer for those taxable years. Each time that the alternative energy production tax credit is carried over to a succeeding taxable year, it is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The alternative energy production tax credit provided under this chapter may be carried over and applied to succeeding taxable years for no more than five taxable years following the first taxable year for which the taxpayer was entitled to claim the credit.

(b) Application.--An alternative energy production tax credit approved by the department in a taxable year first shall be applied against the taxpayer's qualified tax liability for the current taxable year as of the date on which the credit was approved before the alternative energy production tax credit is applied against any tax liability under subsection (a).

(c) Carryback and refund.--A taxpayer is not entitled to carry back or obtain a refund of an unused alternative energy production tax credit.

(d) Sale or assignment.--

(e) Purchasers and assignees.--The purchaser or assignee of all or a portion of a tax credit under subsection (d) shall immediately claim the credit in the taxable year in which the purchase or assignment is made. The amount of the tax credit that a purchaser or assignee may use against any one qualified tax liability may not exceed 50% of such qualified tax liability for the taxable year. The purchaser or assignee may not carry forward, carry back or obtain a refund of or sell or assign the tax credit.