Pennsylvania Code › Title 61 - REVENUE › Part I - Department of Revenue › Subpart B - General Fund Revenues › Article VI - Corporation Taxes › Chapter 151 - GENERAL PROVISIONS › CREDITS › Section 151.22 - Transfer, assignment and refund of credits

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
Use of unsettled
						credits.
Unsettled credits are available for transfer to corporation
						tax debits within the account of the taxpayer upon receipt by the Department of
						the Annual Report on account of which the payment is submitted. If obligations
						due the Commonwealth have been paid, unsettled credits may be used by the
						taxpayer to pay a tax or other claim due by it to the Commonwealth, may be
						refunded or may be assigned to another person upon receipt by the Department of
						the Annual Report on account of which the payment is submitted. See section
						3003(f) of the TRC (72 P. S. §
													10003) and
						section 1108(b) of the FC (72 P. S. §
													1108(b)). A transfer of an
						unsettled credit is not prohibited by the possibility of a subsequent
						resettlement under section 407(b) of the TRC (72 P. S. §
													7407(b)), or an account
						adjustment made to correct a clerical or mathematical error on the part of the
						taxpayer or of the Department.
(b)
Use of settled credits.
Settled credits shall be used in
						accordance with the following:
(1)
Taxes to which settled credits may be transferred.
Except as
						otherwise provided by law or by regulation, a settled Corporation Tax credits
						may be transferred in payment of any other tax or taxes paid or payable into
						the General Fund. Credits of other tax paid into the General Fund may be so
						transferred in payment of corporation taxes. Taxes paid or payable into the
						General Fund include Personal Income Taxes, Cigarette and Beverage Taxes, sales
						and use taxes, Inheritance Taxes and Corporation Taxes (except that portion of
						the Gross Receipts Tax on Motor Vehicle carriers credited to the Motor License
						Fund and Insurance Premiums Tax on foreign fire and foreign casualty insurance
						companies). Refer to section 902(b) of the TRC (72 P. S. §
														7902(a)). Settled
						corporation tax credits may also be interchanged with tax credits from certain
						special funds such as the Unemployment Compensation Funds or the Motor Vehicle
						Fund.
(2)
Availability for
						assignment.
A settled credit may be the subject of assignment to
						another corporation. A settled credit is not deemed to be available for
						assignment, however, unless outstanding tax debits reflected in the account of
						the assignor are offset by sufficient credits to satisfy the debits, and unless
						other obligations due the Commonwealth by the taxpayer have been fully
						paid.
(3)
Availability for
						refund.
A settled credit may be refunded if outstanding tax debits
						reflected in the account are offset by sufficient credits to satisfy the debits
						and if other obligations due the Commonwealth by the taxpayer have been
						paid.
(4)
Petition for cash
						refund.
A settled credit which is the subject of a Petition for Cash
						Refund may not be transferred to taxes other than corporation taxes and may not
						be assigned to another corporation during the pendency of the
						proceedings.