1. (a) The surviving entity involved in a merger may utilize unused business enterprise tax credits of the merged companies.
2. (b) The surviving entity involved in a merger shall determine the expiration date of unused credits based on the original carryover periods of the credits obtained in the merger.

3. (c) A business enterprise which changes its form of conducting business, such as the incorporation of a proprietorship, shall:

   1. (1) Not lose the unused business enterprise tax credits available to it at the time of change; and
   2. (2) Determine the expiration date of all unused credits based on the original carryover periods of the credits.

Source. #7178, eff 12-23-99 (from Rev 2405.02), EXPIRED: 12-23-07 New. #9065, eff 1-10-08; ss by #11032, eff 1-29-16