Current through Register Vol. 54, No. 25, June 22, 2024
Section 135.44 - Proof of contribution(a) For a business firm to receive a tax credit for a contribution under the act, the business firm shall submit an application on forms provided by the Department with documentation of the contribution.(b) Documentation of the contribution may include, but not necessarily be limited to, one of the following: (1)Cash contribution. Cash contributions may be shown by a photo copy of the cancelled checks. Checks shall be made payable to the neighborhood organization and noted specifically for that project.(2)Real estate contribution. Real estate contributions may be shown by a copy of the deed and two independent appraisals.(3)Equipment and supply contributions. Equipment and supply contributions may be shown by copies of invoices signed by the receiver of the goods. The invoices must reflect the net outlay of the contributor.(4)Technical assistance. A statement itemizing time and rate spent on the project will be sufficient to indicate the technical assistance rendered. The statement shall be signed by the employe in question, the employer, the project director and the recipient of the service.(5)Manpower training. Documentation shall include name, address, social security number, wages paid to each trainee and any approved costs incurred.(6)Stock contribution. Stock contributions must be converted into cash before the agency receives the donation. Stock is to be sold and value derived on the amount received minus commission and tax. Consideration will not be given on the average stock cost.The provisions of this § 135.44 amended May 15, 1981, effective 5/16/1981, 11 Pa.B. 1647; amended March 4, 1988, effective 3/5/1988, 18 Pa.B. 937.