Pennsylvania Code (Last Updated: April 5, 2016) |
Title 61. REVENUE |
PART I. Department of Revenue |
Subpart B. General Fund Revenues |
Article VI. Corporation Taxes |
Chapter 151. General Provisions |
Section 151.24. Order of application of tax credits
Latest version.
-
In the absence of instructions by the taxpayer to the contrary, and unless otherwise provided by law or by regulation, tax credits shall be applied to the penalties, legal costs, interest and tax principal, in that order, of each tax debit in the taxpayers account, in the chronological order in which the tax debits arose.
The provisions of this § 151.24 adopted March 23, 1979, effective March 24, 1979, 9 Pa.B. 1071.
Notation
This section cited in 61 Pa. Code § 151.21 (relating to definitions); and 61 Pa. Code § 151.22 (relating to transfer, assignment and refund of credits).