US Codex
U.S.C.
Notes

§38. General business credit — Inbound Citations

26 U.S.C. § 38

Cited by 96 provisions in release 119-102.

Citations to 26 U.S.C. § 38 as a whole

  • 26 U.S.C. § 40(a)
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    (a) For purposes of section 38, the alcohol fuels credit determined under this section for the taxable year is an amount equal to the sum of—
    (1) the alcohol mixture credit,
    (2) the alcohol credit,
    (3) in the case of an eligible small ethanol producer, the small ethanol producer credit, plus
    (4) the second generation biofuel producer credit.
  • 26 U.S.C. § 40A(a)
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    (a) For purposes of section 38, the biodiesel fuels credit determined under this section for the taxable year is an amount equal to the sum of—
    (1) the biodiesel mixture credit, plus
    (2) the biodiesel credit, plus
    (3) in the case of an eligible small agri-biodiesel producer, the small agri-biodiesel producer credit.
  • 26 U.S.C. § 40B(a)
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    (a) For purposes of section 38, the sustainable aviation fuel credit determined under this section for the taxable year is, with respect to any sale or use of a qualified mixture which occurs during such taxable year, an amount equal to the product of—
    (1) the number of gallons of sustainable aviation fuel in such mixture, multiplied by
    (2) the sum of—
    (A) $1.25, plus
    (B) the applicable supplementary amount with respect to such sustainable aviation fuel.
  • 26 U.S.C. § 41(a)
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    (a) For purposes of section 38, the research credit determined under this section for the taxable year shall be an amount equal to the sum of—
    (1) 20 percent of the excess (if any) of—
    (A) the qualified research expenses for the taxable year, over
    (B) the base amount,
    (2) 20 percent of the basic research payments determined under subsection (e)(1)(A), and
    (3) 20 percent of the amounts paid or incurred by the taxpayer in carrying on any trade or business of the taxpayer during the taxable year (including as contributions) to an energy research consortium for energy research.
  • 26 U.S.C. § 42(a)
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    (a) For purposes of section 38, the amount of the low-income housing credit determined under this section for any taxable year in the credit period shall be an amount equal to—
    (1) the applicable percentage of
    (2) the qualified basis of each qualified low-income building.
  • 26 U.S.C. § 42(j)(2)(A)
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    (A) the aggregate decrease in the credits allowed to the taxpayer under section 38 for all prior taxable years which would have resulted if the accelerated portion of the credit allowable by reason of this section were not allowed for all prior taxable years with respect to the excess of the amount described in paragraph (1)(B) over the amount described in paragraph (1)(A), plus
  • 26 U.S.C. § 42(k)(4)(B)
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    (B) For purposes of subparagraph (A), the term “applicable portion” means the aggregate decrease in the credits allowed to a taxpayer under section 38 for all prior taxable years which would have resulted if the eligible basis of the building were reduced by the amount of financing which does not meet requirements of paragraph (2)(D).
  • 26 U.S.C. § 43(a)
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    (a) For purposes of section 38, the enhanced oil recovery credit for any taxable year is an amount equal to 15 percent of the taxpayer’s qualified enhanced oil recovery costs for such taxable year.
  • 26 U.S.C. § 44(a)
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    (a) For purposes of section 38, in the case of an eligible small business, the amount of the disabled access credit determined under this section for any taxable year shall be an amount equal to 50 percent of so much of the eligible access expenditures for the taxable year as exceed $250 but do not exceed $10,250.
  • 26 U.S.C. § 45(a)
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    (a) For purposes of section 38, the renewable electricity production credit for any taxable year is an amount equal to the product of—
    (1) 0.3 cents, multiplied by
    (2) the kilowatt hours of electricity—
    (A) produced by the taxpayer—
    (i) from qualified energy resources, and
    (ii) at a qualified facility during the 10-year period beginning on the date the facility was originally placed in service, and
    (B) sold by the taxpayer to an unrelated person during the taxable year.
  • 26 U.S.C. § 45A(a)
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    (a) For purposes of section 38, the amount of the Indian employment credit determined under this section with respect to any employer for any taxable year is an amount equal to 20 percent of the excess (if any) of—
    (1) the sum of—
    (A) the qualified wages paid or incurred during such taxable year, plus
    (B) qualified employee health insurance costs paid or incurred during such taxable year, over
    (2) the sum of the qualified wages and qualified employee health insurance costs (determined as if this section were in effect) which were paid or incurred by the employer (or any predecessor) during calendar year 1993.
  • 26 U.S.C. § 45AA(a)
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    (a) For purposes of section 38, in the case of any eligible small employer, the military spouse retirement plan eligibility credit determined under this section for any taxable year is an amount equal to the sum of—
    (1) $200 with respect to each military spouse who is an employee of such employer and who participates in an eligible defined contribution plan of such employer at any time during such taxable year, plus
    (2) so much of the contributions made by such employer (other than an elective deferral (as defined in section 402(g)(3))1 to all such plans with respect to such employee during such taxable year as do not exceed $300.
  • 26 U.S.C. § 45B(a)
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    (a) For purposes of section 38, the employer social security credit determined under this section for the taxable year is an amount equal to the excess employer social security tax paid or incurred by the taxpayer during the taxable year.
  • 26 U.S.C. § 45C(a)
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    (a) For purposes of section 38, the credit determined under this section for the taxable year is an amount equal to 25 percent of the qualified clinical testing expenses for the taxable year.
  • 26 U.S.C. § 45D(a)(1)
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    (1) For purposes of section 38, in the case of a taxpayer who holds a qualified equity investment on a credit allowance date of such investment which occurs during the taxable year, the new markets tax credit determined under this section for such taxable year is an amount equal to the applicable percentage of the amount paid to the qualified community development entity for such investment at its original issue.
  • 26 U.S.C. § 45D(g)(2)(A)
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    (A) the aggregate decrease in the credits allowed to the taxpayer under section 38 for all prior taxable years which would have resulted if no credit had been determined under this section with respect to such investment, plus
  • 26 U.S.C. § 45E(a)
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    (a) For purposes of section 38, in the case of an eligible employer, the small employer pension plan startup cost credit determined under this section for any taxable year is an amount equal to 50 percent of the qualified startup costs paid or incurred by the taxpayer during the taxable year.
  • 26 U.S.C. § 45F(a)
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    (a) For purposes of section 38, the employer-provided child care credit determined under this section for the taxable year is an amount equal to the sum of—
    (1) 40 percent (50 percent in the case of an eligible small business) of the qualified child care expenditures, and
    (2) 10 percent of the qualified child care resource and referral expenditures,
    of the taxpayer for such taxable year.
  • 26 U.S.C. § 45F(d)(1)(B)
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    (B) the aggregate decrease in the credits allowed under section 38 for all prior taxable years which would have resulted if the qualified child care expenditures of the taxpayer described in subsection (c)(1)(A) with respect to such facility had been zero.
  • 26 U.S.C. § 45G(a)
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    (a) For purposes of section 38, the railroad track maintenance credit determined under this section for the taxable year is an amount equal to 40 percent (50 percent in the case of any taxable year beginning before January 1, 2023) of the qualified railroad track maintenance expenditures paid or incurred by an eligible taxpayer during the taxable year.
  • 26 U.S.C. § 45H(a)
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    (a) For purposes of section 38, the amount of the low sulfur diesel fuel production credit determined under this section with respect to any facility of a small business refiner is an amount equal to 5 cents for each gallon of low sulfur diesel fuel produced during the taxable year by such small business refiner at such facility.
  • 26 U.S.C. § 45I(a)
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    (a) For purposes of section 38, the marginal well production credit for any taxable year is an amount equal to the product of—
    (1) the credit amount, and
    (2) the qualified crude oil production and the qualified natural gas production which is attributable to the taxpayer.
  • 26 U.S.C. § 45J(a)
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    (a) For purposes of section 38, the advanced nuclear power facility production credit of any taxpayer for any taxable year is equal to the product of—
    (1) 1.8 cents, multiplied by
    (2) the kilowatt hours of electricity—
    (A) produced by the taxpayer at an advanced nuclear power facility during the 8-year period beginning on the date the facility was originally placed in service, and
    (B) sold by the taxpayer to an unrelated person during the taxable year.
  • 26 U.S.C. § 45K(a)
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    (a) For purposes of section 38, the nonconventional source production credit determined under this section for the taxable year is an amount equal to—
    (1) $3, multiplied by
    (2) the barrel-of-oil equivalent of qualified fuels—
    (A) sold by the taxpayer to an unrelated person during the taxable year, and
    (B) the production of which is attributable to the taxpayer.
  • 26 U.S.C. § 45K(b)(4)(A)
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    (A) the aggregate amount allowed under section 38 for the taxable year or any prior taxable year by reason of the energy percentage with respect to property used in the project, over
  • 26 U.S.C. § 45K(b)(5)(A)
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    (A) the aggregate amount allowed under section 38 for the taxable year and any prior taxable year by reason of any enhanced oil recovery credit determined under section 43 with respect to such project, over
  • 26 U.S.C. § 45L(a)(1)
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    (1) For purposes of section 38, in the case of an eligible contractor, the new energy efficient home credit for the taxable year is the applicable amount for each qualified new energy efficient home which is—
    (A) constructed by the eligible contractor, and
    (B) acquired by a person from such eligible contractor for use as a residence during the taxable year.
  • 26 U.S.C. § 45N(a)
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    (a) For purposes of section 38, the mine rescue team training credit determined under this section with respect to each qualified mine rescue team employee of an eligible employer for any taxable year is an amount equal to the lesser of—
    (1) 20 percent of the amount paid or incurred by the taxpayer during the taxable year with respect to the training program costs of such qualified mine rescue team employee (including wages of such employee while attending such program), or
    (2) $10,000.
  • 26 U.S.C. § 45O(a)
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    (a) For purposes of section 38, in the case of an eligible agricultural business, the agricultural chemicals security credit determined under this section for the taxable year is 30 percent of the qualified security expenditures for the taxable year.
  • 26 U.S.C. § 45P(a)
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    (a) For purposes of section 38, the differential wage payment credit for any taxable year is an amount equal to 20 percent of the sum of the eligible differential wage payments for each of the qualified employees of the taxpayer during such taxable year.
  • 26 U.S.C. § 45Q(a)
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    (a) For purposes of section 38, the carbon oxide sequestration credit for any taxable year is an amount equal to the sum of—
    (1) $20 per metric ton of qualified carbon oxide which is—
    (A) captured by the taxpayer using carbon capture equipment which is originally placed in service at a qualified facility before the date of the enactment of the Bipartisan Budget Act of 2018, and
    (B) disposed of by the taxpayer in secure geological storage and not used by the taxpayer as described in paragraph (2)(B),
    (2) $10 per metric ton of qualified carbon oxide which is—
    (A) captured by the taxpayer using carbon capture equipment which is originally placed in service at a qualified facility before the date of the enactment of the Bipartisan Budget Act of 2018, and
    (i) used by the taxpayer as a tertiary injectant in a qualified enhanced oil or natural gas recovery project and disposed of by the taxpayer in secure geological storage, or
    (ii) utilized by the taxpayer in a manner described in subsection (f)(5), and
    (3) the applicable dollar amount (as determined under subsection (b)(1)) per metric ton of qualified carbon oxide which is—
    (A) captured by the taxpayer using carbon capture equipment which is originally placed in service at a qualified facility on or after the date of the enactment of the Bipartisan Budget Act of 2018, during the 12-year period beginning on the date the equipment was originally placed in service, and
    (i) disposed of by the taxpayer in secure geological storage and not used by the taxpayer as described in clause (ii) or (iii),
    (ii) used by the taxpayer as a tertiary injectant in a qualified enhanced oil or natural gas recovery project and disposed of by the taxpayer in secure geological storage, or
    (iii) utilized by the taxpayer in a manner described in subsection (f)(5).
  • 26 U.S.C. § 45R(a)
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    (a) For purposes of section 38, in the case of an eligible small employer, the small employer health insurance credit determined under this section for any taxable year in the credit period is the amount determined under subsection (b).
  • 26 U.S.C. § 45S(a)(1)
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    (1) For purposes of section 38, in the case of an eligible employer, the paid family and medical leave credit is an amount equal to either of the following (as elected by such employer):
    (A) The applicable percentage of the amount of wages paid to qualifying employees with respect to any period in which such employees are on family and medical leave.
    (B) If such employer has an insurance policy with regards to the provision of paid family and medical leave which is in force during the taxable year, the applicable percentage of the total amount of premiums paid or incurred by such employer during such taxable year with respect to such insurance policy.
  • 26 U.S.C. § 45T(a)
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    (a) For purposes of section 38, in the case of an eligible employer, the retirement auto-enrollment credit determined under this section for any taxable year is an amount equal to—
    (1) $500 for any taxable year occurring during the credit period, and
    (2) zero for any other taxable year.
  • 26 U.S.C. § 45U(a)
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    (a) For purposes of section 38, the zero-emission nuclear power production credit for any taxable year is an amount equal to the amount by which—
    (1) the product of—
    (A) 0.3 cents, multiplied by
    (B) the kilowatt hours of electricity—
    (i) produced by the taxpayer at a qualified nuclear power facility, and
    (ii) sold by the taxpayer to an unrelated person during the taxable year, exceeds
    (2) the reduction amount for such taxable year.
  • 26 U.S.C. § 45V(a)
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    (a) For purposes of section 38, the clean hydrogen production credit for any taxable year is an amount equal to the product of—
    (1) the kilograms of qualified clean hydrogen produced by the taxpayer during such taxable year at a qualified clean hydrogen production facility during the 10-year period beginning on the date such facility was originally placed in service, multiplied by
    (2) the applicable amount (as determined under subsection (b)) with respect to such hydrogen.
  • 26 U.S.C. § 45W(a)
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    (a) For purposes of section 38, the qualified commercial clean vehicle credit for any taxable year is an amount equal to the sum of the credit amounts determined under subsection (b) with respect to each qualified commercial clean vehicle placed in service by the taxpayer during the taxable year.
  • 26 U.S.C. § 45X(a)(1)
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    (1) For purposes of section 38, the advanced manufacturing production credit for any taxable year is an amount equal to the sum of the credit amounts determined under subsection (b) with respect to each eligible component which is—
    (A) produced by the taxpayer, and
    (B) during the taxable year, sold by such taxpayer to an unrelated person.
  • 26 U.S.C. § 45Y(a)(1)
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    (1) For purposes of section 38, the clean electricity production credit for any taxable year is an amount equal to the product of—
    (A) the kilowatt hours of electricity—
    (i) produced by the taxpayer at a qualified facility, and
    (I) sold by the taxpayer to an unrelated person during the taxable year, or
    (II) in the case of a qualified facility which is equipped with a metering device which is owned and operated by an unrelated person, sold, consumed, or stored by the taxpayer during the taxable year, multiplied by
    (B) the applicable amount with respect to such qualified facility.
  • 26 U.S.C. § 45Y(b)(1)(E)
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    (E) The term “qualified facility” shall not include any facility for which a credit determined under section 45, 45J, 45Q, 45U, 48, 48A, or 48E is allowed under section 38 for the taxable year or any prior taxable year.
  • 26 U.S.C. § 45Z(a)(1)
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    (1) For purposes of section 38, the clean fuel production credit for any taxable year is an amount equal to the product of—
    (A) the applicable amount per gallon (or gallon equivalent) with respect to any transportation fuel which is—
    (i) produced by the taxpayer at a qualified facility, and
    (ii) sold by the taxpayer in a manner described in paragraph (4) during the taxable year, and
    (B) the emissions factor for such fuel (as determined under subsection (b)).
  • 26 U.S.C. § 45Z(d)(4)(B)
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    (B) does not include any facility for which one of the following credits is allowed under section 38 for the taxable year:
    (i) The credit for production of clean hydrogen under section 45V.
    (ii) The credit determined under section 46 to the extent that such credit is attributable to the energy credit determined under section 48 with respect to any specified clean hydrogen production facility for which an election is made under subsection (a)(15) of such section.
    (iii) The credit for carbon oxide sequestration under section 45Q.
  • 26 U.S.C. § 46
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    For purposes of section 38, the amount of the investment credit determined under this section for any taxable year shall be the sum of—
  • 26 U.S.C. § 48(d)(2)(A)
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    (A) the tax imposed under subtitle A on the taxpayer for the taxable year in which such grant is made shall be increased by so much of such credit as was allowed under section 38,
  • 26 U.S.C. § 48E(b)(3)(C)
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    (C) The term “qualified facility” shall not include any facility for which—
    (i) a renewable electricity production credit determined under section 45,
    (ii) an advanced nuclear power facility production credit determined under section 45J,
    (iii) a carbon oxide sequestration credit determined under section 45Q,
    (iv) a zero-emission nuclear power production credit determined under section 45U,
    (v) a clean electricity production credit determined under section 45Y,
    (vi) an energy credit determined under section 48, or
    (vii) a qualifying advanced coal project credit under section 48A,
    is allowed under section 38 for the taxable year or any prior taxable year.
  • 26 U.S.C. § 49(a)(1)(E)(iv)
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    (iv) The determination of any partner’s or shareholder’s allocable share of any financing shall be made in the same manner as the credit allowable by section 38 with respect to such property.
  • 26 U.S.C. § 49(a)(2)(C)(i)
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    (i) For purposes of determining the amount of credit allowable under section 38 and the amount of credit subject to the early disposition or cessation rules under section 50(a), any increase in a taxpayer’s credit base for any property by reason of this paragraph shall be taken into account as if it were property placed in service by the taxpayer in the taxable year in which the property referred to in subparagraph (A) was first placed in service.
  • 26 U.S.C. § 49(b)(1)
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    (1) If, as of the close of the taxable year, there is a net increase with respect to the taxpayer in the amount of nonqualified nonrecourse financing (within the meaning of subsection (a)(1)) with respect to any property to which subsection (a)(1) applied, then the tax under this chapter for such taxable year shall be increased by an amount equal to the aggregate decrease in credits allowed under section 38 for all prior taxable years which would have resulted from reducing the credit base (as defined in subsection (a)(1)(C)) taken into account with respect to such property by the amount of such net increase. For purposes of determining the amount of credit subject to the early disposition or cessation rules of section 50(a), the net increase in the amount of the nonqualified nonrecourse financing with respect to the property shall be treated as reducing the property’s credit base in the year in which the property was first placed in service.
  • 26 U.S.C. § 50(a)(1)(A)
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    (A) If, during any taxable year, investment credit property is disposed of, or otherwise ceases to be investment credit property with respect to the taxpayer, before the close of the recapture period, then the tax under this chapter for such taxable year shall be increased by the recapture percentage of the aggregate decrease in the credits allowed under section 38 for all prior taxable years which would have resulted solely from reducing to zero any credit determined under this subpart with respect to such property.
  • 26 U.S.C. § 50(a)(2)(A)
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    (A) If during any taxable year any building to which section 47(d) applied ceases (by reason of sale or other disposition, cancellation or abandonment of contract, or otherwise) to be, with respect to the taxpayer, property which, when placed in service, will be a qualified rehabilitated building, then the tax under this chapter for such taxable year shall be increased by an amount equal to the aggregate decrease in the credits allowed under section 38 for all prior taxable years which would have resulted solely from reducing to zero the credit determined under this subpart with respect to such building.
  • 26 U.S.C. § 50(a)(3)(A)
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    (A) If there is a an applicable transaction by an applicable taxpayer before the close of the 10-year period beginning on the date such taxpayer placed in service investment credit property which is eligible for the advanced manufacturing investment credit under section 48D(a), then the tax under this chapter for the taxable year in which such transaction occurs shall be increased by 100 percent of the aggregate decrease in the credits allowed under section 38 for all prior taxable years which would have resulted solely from reducing to zero any credit determined under section 46 which is attributable to the advanced manufacturing investment credit under section 48D(a) with respect to such property.
  • 26 U.S.C. § 50(a)(4)(A)
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    (A) If there is an applicable payment made by a specified taxpayer before the close of the 10-year period beginning on the date such taxpayer placed in service investment credit property which is eligible for the clean electricity investment credit under section 48E(a), then the tax under this chapter for the taxable year in which such applicable payment occurs shall be increased by 100 percent of the aggregate decrease in the credits allowed under section 38 for all prior taxable years which would have resulted solely from reducing to zero any credit determined under section 46 which is attributable to the clean electricity investment credit under section 48E(a) with respect to such property.
  • 26 U.S.C. § 51(a)
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    (a) For purposes of section 38, the amount of the work opportunity credit determined under this section for the taxable year shall be equal to 40 percent of the qualified first-year wages for such year.
  • 26 U.S.C. § 52(c)(1)
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    (1) No credit shall be allowed under section 38 for any work opportunity credit determined under this subpart to any organization (other than a cooperative described in section 521) which is exempt from income tax under this chapter.
  • 26 U.S.C. § 59A(b)(1)(B)(ii)(I)
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    (I) the credit allowed under section 38 for the taxable year which is properly allocable to the research credit determined under section 41(a), plus
  • 26 U.S.C. § 59A(b)(1)(B)(ii)(II)
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    (II) the portion of the applicable section 38 credits not in excess of 80 percent of the lesser of the amount of such credits or the base erosion minimum tax amount (determined without regard to this subclause).
  • 26 U.S.C. § 59A(b)(3)
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    (3) For purposes of paragraph (1)(B)(ii)(II), the term “applicable section 38 credits” means the credit allowed under section 38 for the taxable year which is properly allocable to—
    (A) the low-income housing credit determined under section 42(a),
    (B) the renewable electricity production credit determined under section 45(a), and
    (C) the investment credit determined under section 46, but only to the extent properly allocable to the energy credit determined under section 48.
  • 26 U.S.C. § 108(b)(2)(B)
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    (B) Any carryover to or from the taxable year of a discharge of an amount for purposes for determining the amount allowable as a credit under section 38 (relating to general business credit).
  • 26 U.S.C. § 179(d)(9)
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    (9) No credit shall be allowed under section 38 with respect to any amount for which a deduction is allowed under subsection (a).
  • 26 U.S.C. § 196(a)
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    (a) If any portion of the qualified business credits determined for any taxable year has not, after the application of section 38(c), been allowed to the taxpayer as a credit under section 38 for any taxable year, an amount equal to the credit not so allowed shall be allowed to the taxpayer as a deduction for the first taxable year following the last taxable year for which such credit could, under section 39, have been allowed as a credit.
  • 26 U.S.C. § 381(c)(24)
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    (24) The acquiring corporation shall take into account (to the extent proper to carry out the purposes of this section and section 38, and under such regulations as may be prescribed by the Secretary) the items required to be taken into account for purposes of section 38 in respect of the distributor or transferor corporation.
  • 26 U.S.C. § 1016(a)(19)
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    (19) to the extent provided in section 50(c), in the case of expenditures with respect to which a credit has been allowed under section 38;
  • 26 U.S.C. § 1274A(b)
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    (b) For purposes of this section, the term “qualified debt instrument” means any debt instrument given in consideration for the sale or exchange of property (other than new section 38 property within the meaning of section 48(b), as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) if the stated principal amount of such instrument does not exceed $2,800,000.
  • 26 U.S.C. § 1351(i)(2)
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    (2) the credit under section 38 (relating to general business credit),
  • 26 U.S.C. § 1396(a)
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    (a) For purposes of section 38, the amount of the empowerment zone employment credit determined under this section with respect to any employer for any taxable year is the applicable percentage of the qualified zone wages paid or incurred during the calendar year which ends with or within such taxable year.
  • 26 U.S.C. § 3111(e)(1)
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    (1) If a qualified tax-exempt organization hires a qualified veteran with respect to whom a credit would be allowable under section 38 by reason of section 51 if the organization were not a qualified tax-exempt organization, then there shall be allowed as a credit against the tax imposed by subsection (a) on wages paid with respect to employment of all employees of the organization during the applicable period an amount equal to the credit determined under section 51 (after application of the modifications under paragraph (3)) with respect to wages paid to such qualified veteran during such period.
  • 26 U.S.C. § 4612(e)(1)
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    (1) For purposes of section 38, the current year business credit shall include the credit determined under this subsection.
  • 26 U.S.C. § 5011(a)
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    (a) For purposes of section 38, the amount of the distilled spirits credit for any taxable year is the amount equal to the product of—
    (1) in the case of—
    (A) any eligible wholesaler, the number of cases of bottled distilled spirits—
    (i) which were bottled in the United States, and
    (ii) which are purchased by such wholesaler during the taxable year directly from the bottler of such spirits, or
    (B) any person which is subject to section 5005 and which is not an eligible wholesaler, the number of cases of bottled distilled spirits which are stored in a warehouse operated by, or on behalf of, a State or political subdivision thereof, or an agency of either, on which title has not passed on an unconditional sale basis, and
    (2) the average tax-financing cost per case for the most recent calendar year ending before the beginning of such taxable year.

Citations to §38(a)

  • 26 U.S.C. § 39(a)(1)
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    (1) If the sum of the business credit carryforwards to the taxable year plus the amount of the current year business credit for the taxable year exceeds the amount of the limitation imposed by subsection (c) of section 38 for such taxable year (hereinafter in this section referred to as the “unused credit year”), such excess (to the extent attributable to the amount of the current year business credit) shall be—
    (A) a business credit carryback to the taxable year preceding the unused credit year, and
    (B) a business credit carryforward to each of the 20 taxable years following the unused credit year,
    and, subject to the limitations imposed by subsections (b) and (c), shall be taken into account under the provisions of section 38(a) in the manner provided in section 38(a).
  • 26 U.S.C. § 39(a)(2)(B)
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    (B) The amount of the unused credit for the unused credit year shall be carried to each of the other 20 taxable years to the extent that such unused credit may not be taken into account under section 38(a) for a prior taxable year because of the limitations of subsections (b) and (c).
  • 26 U.S.C. § 45A(d)(1)(B)
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    (B) the tax under this chapter for the taxable year in which such employment is terminated shall be increased by the aggregate credits (if any) allowed under section 38(a) for prior taxable years by reason of wages (or qualified employee health insurance costs) taken into account with respect to such employee.
  • 26 U.S.C. § 52(d)(2)
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    (2) any beneficiary to whom any amount has been apportioned under paragraph (1) shall be allowed, subject to section 38(c), a credit under section 38(a) for such amount.

Citations to §38(a)(1)

  • 26 U.S.C. § 39(b)(1)
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    (1) the amounts determined under paragraphs (1) and (2) of section 38(a) for such taxable year, plus
  • 26 U.S.C. § 39(c)
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    (c) The amount of the unused credit which may be taken into account under section 38(a)(1) for any succeeding taxable year shall not exceed the amount by which the limitation imposed by section 38(c) for such taxable year exceeds the sum of the amounts which, by reason of this section, are carried to such taxable year and are attributable to taxable years preceding the unused credit year.

Citations to §38(a)(2)

Citations to §38(a)(3)

  • 26 U.S.C. § 39(b)
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    (b) The amount of the unused credit which may be taken into account under section 38(a)(3) for any preceding taxable year shall not exceed the amount by which the limitation imposed by section 38(c) for such taxable year exceeds the sum of—
    (1) the amounts determined under paragraphs (1) and (2) of section 38(a) for such taxable year, plus
    (2) the amounts which (by reason of this section) are carried back to such taxable year and are attributable to taxable years preceding the unused credit year.

Citations to §38(b)

Citations to §38(c)

Citations to §38(c)(1)