A. In determining the carryover of unused credits and the effect of a merger or acquisition, federal law shall be applied to the corporations as if they were separate corporations. Any provisions under federal law that would allow separate corporations that are merged or acquired to carry forward unused credits on the surviving corporation's returns shall apply to the carryover of this credit for State purposes.
B. Unused Credits.
(1) In a transaction involving an asset purchase, unused credits:
(a) Do not transfer from the target company to the purchaser; and
(b) Remain with the target company.
(2) Unused credits may not be sold or purchased.