§46. Amount of credit — Inbound Citations

Citations to 26 U.S.C. § 46 as a whole

• 26 U.S.C. § 38(b)(1)

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  (1) the investment credit determined under section 46,
• 26 U.S.C. § 38(c)(4)(B)(x)

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  (x) the credit determined under section 46 to the extent that such credit is attributable to the energy credit determined under section 48,
• 26 U.S.C. § 38(c)(4)(B)(xi)

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  (xi) the credit determined under section 46 to the extent that such credit is attributable to the rehabilitation credit under section 47, but only with respect to qualified rehabilitation expenditures properly taken into account for periods after December 31, 2007, and
• 26 U.S.C. § 38(c)(6)(C)

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  (C) In the case of a person described in subparagraph (A) or (B) of section 46(e)(1) (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990), the $25,000 amount specified under subparagraph (B) of paragraph (1) shall equal such person’s ratable share (as determined under section 46(e)(2) (as so in effect) of such amount.
• 26 U.S.C. § 38(d)(2)

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  (2) The order in which the credits listed in section 46 are used shall be determined on the basis of the order in which such credits are listed in section 46 as of the close of the taxable year in which the credit is used.
• 26 U.S.C. § 45Z(d)(4)(B)(ii)

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  (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.
• 26 U.S.C. § 47(a)(1)

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  (1) For purposes of section 46, for any taxable year during the 5-year period beginning in the taxable year in which a qualified rehabilitated building is placed in service, the rehabilitation credit for such year is an amount equal to the ratable share for such year.
• 26 U.S.C. § 48(a)(1)

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  (1) For purposes of section 46, except as provided in paragraphs (1)(B), (2)(B), and (3)(B) of subsection (c), the energy credit for any taxable year is the energy percentage of the basis of each energy property placed in service during such taxable year.
• 26 U.S.C. § 48(b)

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  (b) Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of subsection (a).
• 26 U.S.C. § 48A(a)

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  (a) For purposes of section 46, the qualifying advanced coal project credit for any taxable year is an amount equal to—

  (1) 20 percent of the qualified investment for such taxable year in the case of projects described in subsection (d)(3)(B)(i),

  (2) 15 percent of the qualified investment for such taxable year in the case of projects described in subsection (d)(3)(B)(ii), and

  (3) 30 percent of the qualified investment for such taxable year in the case of projects described in clause (iii) of subsection (d)(3)(B).
• 26 U.S.C. § 48A(b)(3)

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  (3) Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this section.
• 26 U.S.C. § 48B(a)

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  (a) For purposes of section 46, the qualifying gasification project credit for any taxable year is an amount equal to 20 percent (30 percent in the case of credits allocated under subsection (d)(1)(B)) of the qualified investment for such taxable year.
• 26 U.S.C. § 48B(b)(3)

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  (3) Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this section.
• 26 U.S.C. § 48C(a)

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  (a) For purposes of section 46, the qualifying advanced energy project credit for any taxable year is an amount equal to 30 percent of the qualified investment for such taxable year with respect to any qualifying advanced energy project of the taxpayer.
• 26 U.S.C. § 48C(b)(2)

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  (2) Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this section.
• 26 U.S.C. § 48D(a)

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  (a) For purposes of section 46, the advanced manufacturing investment credit for any taxable year is an amount equal to 35 percent of the qualified investment for such taxable year with respect to any advanced manufacturing facility of an eligible taxpayer.
• 26 U.S.C. § 48D(b)(5)

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  (5) Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of subsection (a).
• 26 U.S.C. § 48E(a)(1)

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  (1) For purposes of section 46, the clean electricity investment credit for any taxable year is an amount equal to the applicable percentage of the qualified investment for such taxable year with respect to—

  (A) any qualified facility, and

  (B) any energy storage technology.
• 26 U.S.C. § 48E(d)(1)

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  (1) Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of subsection (a).
• 26 U.S.C. § 49(a)(1)(F)

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  (F) Rules similar to the rules of subparagraph (F) of section 46(c)(8) (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this paragraph.
• 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. § 50(d)

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  (d) For purposes of this subpart, rules similar to the rules of the following provisions (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply:

  (1) Section 46(e) (relating to limitations with respect to certain persons).

  (2) Section 46(f) (relating to limitation in case of certain regulated companies). At the election of a taxpayer, this paragraph shall not apply to any energy storage technology (as defined in section 48(c)(6)), provided—

  (A) no election under this paragraph shall be permitted if the making of such election is prohibited by a State or political subdivision thereof, by any agency or instrumentality of the United States, or by a public service or public utility commission or other similar body of any State or political subdivision that regulates public utilities as described in section 7701(a)(33)(A),

  (B) an election under this paragraph shall be made separately with respect to each energy storage technology by the due date (including extensions) of the Federal tax return for the taxable year in which the energy storage technology is placed in service by the taxpayer, and once made, may be revoked only with the consent of the Secretary, and

  (C) an election shall not apply with respect to any energy storage technology if such energy storage technology has a maximum capacity equal to or less than 500 kilowatt hours.

  (3) Section 46(h) (relating to special rules for cooperatives).

  (4) Paragraphs (2) and (3) of section 48(b) (relating to special rule for sale-leasebacks).

  (5) Section 48(d) (relating to certain leased property).

  (6) Section 48(f) (relating to estates and trusts).

  (7) Section 48(r) (relating to certain 501(d) organizations).

  Paragraphs (1)(A), (2)(A), and (4) of the section 46(e) referred to in paragraph (1) of this subsection shall not apply to any taxable year beginning after December 31, 1995. In the case of a real estate investment trust making an election under section 6418, paragraphs (1)(B) and (2)(B) of the section 46(e) referred to in paragraph (1) of this subsection shall not apply to any investment credit property of such real estate investment trust to which such election applies.
• 26 U.S.C. § 50(d)(1)

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  (1) Section 46(e) (relating to limitations with respect to certain persons).
• 26 U.S.C. § 50(d)(2)

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  (2) Section 46(f) (relating to limitation in case of certain regulated companies). At the election of a taxpayer, this paragraph shall not apply to any energy storage technology (as defined in section 48(c)(6)), provided—

  (A) no election under this paragraph shall be permitted if the making of such election is prohibited by a State or political subdivision thereof, by any agency or instrumentality of the United States, or by a public service or public utility commission or other similar body of any State or political subdivision that regulates public utilities as described in section 7701(a)(33)(A),

  (B) an election under this paragraph shall be made separately with respect to each energy storage technology by the due date (including extensions) of the Federal tax return for the taxable year in which the energy storage technology is placed in service by the taxpayer, and once made, may be revoked only with the consent of the Secretary, and

  (C) an election shall not apply with respect to any energy storage technology if such energy storage technology has a maximum capacity equal to or less than 500 kilowatt hours.
• 26 U.S.C. § 50(d)(3)

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  (3) Section 46(h) (relating to special rules for cooperatives).
• 26 U.S.C. § 52(e)

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  (e) Under regulations prescribed by the Secretary, in the case of—

  (1) a regulated investment company or a real estate investment trust subject to taxation under subchapter M (section 851 and following), and

  (2) a cooperative organization described in section 1381(a),

  rules similar to the rules provided in subsections (e) and (h) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) shall apply in determining the amount of the credit under this subpart.
• 26 U.S.C. § 59A(b)(3)(C)

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  (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. § 111(b)(3)

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  (3) This subsection shall not apply with respect to the credit determined under section 46 and the foreign tax credit.
• 26 U.S.C. § 196(c)(1)

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  (1) the investment credit determined under section 46 (but only to the extent attributable to property the basis of which is reduced by section 50(c)),
• 26 U.S.C. § 196(d)

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  (d) Subsection (a) shall be applied by substituting “an amount equal to 50 percent of” for “an amount equal to” in the case of the investment credit determined under section 46 (other than the rehabilitation credit).
• 26 U.S.C. § 6418(g)(4)

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  (4) This section shall not apply with respect to any amount of an eligible credit which is allowed pursuant to rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).