Treatment of Nonresident Partners, Members or Shareholders

(a) Each nonresident partner, member, shareholder or holder of a beneficial interest shall be allowed a credit for such partner's, member's, shareholder's or holder of a beneficial interest's share of the withholding tax paid by the partnership, association or Pennsylvania S corporation. Such credit shall be allowed for the partner's, member's, shareholder's or holder of a beneficial interest's taxable year in which, or with which, the partnership, association or Pennsylvania S corporation taxable year (for which such tax was paid) ends.

(b) Each nonresident lessor shall be allowed a credit for the nonresident lessor's share of the withholding tax paid by the lessee under section 324.4.

(c) The credits under this section shall be allowed for the nonresident lessor's taxable year in which the lessee withheld tax.

(324.2 amended Oct. 30, 2017, P.L.672, No.43)