P.R. Laws tit. 13, § 383

2019-02-20 00:00:00+00

§ 383. Concession of credit

(a) Every taxpayer shall be entitled to claim as credit against the income tax, be it the regular tax or the minimum alternative tax, for tax years beginning after July 31, 2006, the total amount paid on account of the supertax. However, the sum taken as credit for each tax year shall not exceed twenty-five percent (25%) of the supertax. The taxpayer may consider said sum when computing the estimated tax provided in Section 1062 of the Code.

History —May 16, 2006, No. 98, § 4; July 31, 2006, No. 137, § 3, retroactive to May 16, 2006.