Pennsylvania BFR Grants Taxpayer Relief on Income Tax for Research, Development Tax Credit

The Pennsylvania Board of Finance and Revenue (BFR) Sept. 27 issued a decision partially granting relief to taxpayer regarding his 2020 personal income tax return. Taxpayer disputed the Department of Revenue’s adjustments to his research and development tax credit and credit carried over from 2019. The BFR found that taxpayer was entitled to claim a $6,655 research and development credit passed through from Rex Medical, LP, based on a completed claim form, but did not provide sufficient evidence to increase his 2019 credit carryover amount. [Pa. Bd. of Fin. & Revenue, Decision No. 2325069, 09/27/24]

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