Pennsylvania Department of Community and Economic Development Issues Information on Keystone Innovation Zone Tax Credit

The Pennsylvania Department of Community and Economic Development Aug. 1 issued information on the Keystone Innovation Zone (KIZ) Tax Credit Program for corporate income, individual income, and excise tax purposes. The program provides tax credits to for-profit companies less than eight years old operating within specific targeted industries in a KIZ. The information includes: 1) tax credits must be applied against the tax liability of a KIZ company for the tax year in which the credit was issued; 2) unused KIZ tax credits may apply against the tax liability of the KIZ company for up to five years from the ...