Refundable/Transferable Tax Credit – No
Unused credits can be carried forward for up to ten years.
The credit is nonrefundable, and unused credits may be carried forward up to 10 years. The merger, consolidation, or reorganization of a corporation where tax attributes survive does not create new eligibility in a succeeding corporation, but unused credits may be transferred and continued by the succeeding corporation. A corporation or partnership may also assign its rights to its unused credit to another corporation or partnership if it transfers all, or substantially all, of its assets or the assets of its trade or business or operating division to another corporation or partnership.