No. Tax credits are specific to the entity that earned them. If a SMLLC with a corporate parent has elected to be a regarded entity and earns job tax credits, the credits are being earned by the SMLLC that files a franchise, excise tax return. If the SMLLC later elects to become a disregarded entity and be treated as a division of its parent, the parent is not entitled to claim job tax credits the SMLLC earned as a regarded entity.
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