Pennsylvania

Pennsylvania Historic Tax Credit Summary

• Applicable against the Pennsylvania corporate income tax, individual income tax, insurance premium tax, financial institution tax and franchise tax. 
• May offset 100% of a taxpayer’s liability.
• Excess credits carry forward 7 years. No carry back.  
• No Recapture.
• Credits are allocable and transferable

Pennsylvania Film Production Tax Credit Summary:

• Income, capital stock, franchise, bank shares, and insurance premiums tax offset.
• Sunset date: None
• Credit must be utilized during year credit is certificated and within the 3 years from when credit received initial application approval.
• No carryforward allowed for transferee
• No recapture for the transferee.
• Certificated and transferable tax credit (one time)
• The following tax credit usage limitations apply:
  • 50.00% for all tax types