61 Pa. Code § 73.56 – Reversal of credit allowance, liability for tax and interest,inapplicability of any statute of limitations.

(a) If the Secretary finds at any time that an expenditure has ceased to be a qualifying capital expenditure, the Secretary shall thereupon reverse any credit allowance theretofore made in respect of the expenditure and the taxpayer shall become liable for payment of the tax against which the credit was allowed, together with interest as provided by law. No statute of limitations may be applicable to prevent collection of the tax.
(b) If a qualifying capital expenditure for which a tax credit has been granted by the Department is subsequently sold, transferred, leased or otherwise disposed of by the taxpayer, then the tax credit applicable to the expenditure may, under certain conditions, be recaptured and the amount of tax credit posted as a debit on the taxpayer’s Malt Beverage Tax account in the Department. The taxpayer is required to notify the Secretary, in writing, of any disposition and the applicable information thereto.

The provisions of this § 73.56 issued under the Malt Beverage Tax Law (47 P.S. § 112.1 (Repealed)).

The provisions of this § 73.56 adopted August 30, 1974, effective August 31, 1974, 4 Pa.B. 1811.