Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Do the nonrefundable franchise tax credits convert to credits against the commercial activity tax (CAT) after the franchise tax phase-out?

April 26, 2017activity cat Commercial convert Credits franchise nonrefundable phase-out tax tax credits

0

Posted

Do the nonrefundable franchise tax credits convert to credits against the commercial activity tax (CAT) after the franchise tax phase-out?

2 Answers

0

Posted

Most nonrefundable franchise tax credits are not recoverable against the CAT and therefore taxpayers cannot claim their unused nonrefundable franchise tax credit carryforward as a credit against the CAT.

0

Posted

Most nonrefundable franchise tax credits are not recoverable against the CAT and therefore taxpayers cannot claim their unused nonrefundable franchise tax credit carry forward as a credit against the CAT.