26 U.S.C. 38: General business credit

2022

• Pub. L. 117–169, §13401(i)(3), substituted "clean" for "qualified plug-in electric drive motor". Law text · (b)
• Pub. L. 117–169, §13105(b)(1), added par. (34). Law text · (b)
• Pub. L. 117–169, §13203(b), added par. (35). Law text · (b)
• Pub. L. 117–169, §13204(a)(4)(A), added par. (36). Law text · (b)
• Pub. L. 117–169, §13403(b)(1), added par. (37). Law text · (b)
• Pub. L. 117–169, §13502(b)(1), added par. (38). Law text · (b)
• Pub. L. 117–169, §13701(b)(1), added par. (39). Law text · (b)
• Pub. L. 117–169, §13704(b)(3), added par. (40). Law text · (b)
• Pub. L. 117–328 added par. (41). Law text · (b)
• Pub. L. 117–169, §10101(d), amended subpar. (E) generally. Prior to amendment, text read as follows: "In the case of a corporation, this subsection shall be applied by treating the corporation as having a tentative minimum tax of zero." Law text · (c)

2019

• Pub. L. 116–94 added par. (33). Law text · (b)

2018

• Pub. L. 115–141, §401(d)(2)(B), redesignated pars. (25) and (26) as (24) and (25), respectively, and struck out former par. (24) which read as follows: "the energy efficient appliance credit determined under section 45M(a),". Law text · (b), (25)
• Pub. L. 115–141, §401(d)(2)(B), (6)(B)(i), redesignated pars. (31) to (34) first as (30) to (33), and then as (26) to (29), respectively. Former par. (26) redesignated (25), and former pars. (27) to (29) redesignated (26) to (28), respectively, and then struck out. Law text · (b)
• Pub. L. 115–141, §401(d)(2)(B), (6)(B)(i), redesignated pars. (27) to (30) as (26) to (29), respectively, and then struck them out. Prior to amendment, these four pars. set out credits for the Hurricane Katrina housing credit determined under section 1400P(b), the Hurricane Katrina employee retenti… Law text · (b)
• Pub. L. 115–141, §401(d)(2)(B), (6)(B)(i), redesignated pars. (35) to (37) first as (34) to (36), and then as (30) to (32), respectively. Former par. (30) redesignated (29) and then struck out, and former pars. (31) and (32) first redesignated (30) and (31), then (26) and (… Law text · (b)
• Pub. L. 115–141, §401(a)(8), (d)(2)(B), (6)(B)(i), inserted comma at end of par. (34) and subsequently redesignated pars. (33) to (37) first as (32) to (36), and then as (28) to (32), respectively. Law text · (b)
• Pub. L. 115–141, §401(d)(6)(B)(ii), struck out ", the New York Liberty Zone business employee credit," after "empowerment zone employment credit". Law text · (c)
• Pub. L. 115–141, §401(b)(5)(B), struck out "the eligible small business credits," before "and the specified credits". Law text · (c)
• Pub. L. 115–141, §401(d)(6)(B)(iii), struck out par. (3) which related to special rules for New York Liberty Zone business employee credit. Law text · (c)
• Pub. L. 115–141, §401(b)(5)(C), struck out "the eligible small business credits and" before "the specified credits". Law text · (c)
• Pub. L. 115–141, §401(b)(5)(D), substituted "(as defined in paragraph (5)(A) after application of the rules of paragraph (5)(B))" for "(as defined in paragraph (5)(C), after application of rules similar to the rules of paragraph (5)(D))". Law text · (c)
• Pub. L. 115–141, §401(b)(5)(A)(i), substituted "Rules related to eligible small businesses" for "Special rules for eligible small business credits in 2010" in heading. Law text · (c)
• Pub. L. 115–141, §401(b)(5)(A)(i), (ii), redesignated subpar. (C) as (A) and struck out former subpar. (A) which related to eligible small business credits determined in taxable years beginning in 2010. Law text · (c)
• Pub. L. 115–141, §401(b)(5)(A)(iii), amended subpar. (B) generally. Prior to amendment, text read as follows: "Credits determined with respect to a partnership or S corporation shall not be treated as eligible small business credits by any partner or shareholder unless such partn… Law text · (c)
• Pub. L. 115–141, §401(b)(5)(A)(i), (ii), redesignated subpar. (D) as (B) and struck out former subpar. (B) which defined "eligible small business credits". Law text · (c)
• Pub. L. 115–141, §401(b)(5)(A)(ii), redesignated subpars. (C) and (D) as (A) and (B), respectively. Law text · (c), (D)

2017

• Pub. L. 115–97, §13403(b), struck out "plus" at end of par. (35), substituted ", plus" for period at end of par. (36), and added par. (37). Law text · (b)
• Pub. L. 115–97, §13403(c), added cl. (ix) and redesignated former cls. (ix) to (xi) as (x) to (xii), respectively. Law text · (c)
• Pub. L. 115–97, §12001(b)(1), added subpar. (E). Law text · (c)

2015

• Pub. L. 114–113, §121(b), added cl. (ii) and redesignated former cls. (ii) and (iii) as (iii) and (iv), respectively. Former cl. (iv) redesignated (v). Law text · (c)
• Pub. L. 114–113, §186(d)(1), added cl. (v) and redesignated former cls. (v) to (ix) as (vi) to (x), respectively. Former cl. (x) redesignated (xi). Law text · (c), (d), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n), (o), (p), (q), (r), (s), (t), (u), (v), (w), (x)
• Pub. L. 114–113, §121(b), redesignated cls. (iv) to (ix) as (v) to (x), respectively. Law text · (c), (d), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n), (o), (p), (q), (r), (s), (t), (u), (v), (w), (x)
• Pub. L. 114–113, §186(d)(1), redesignated cl. (x) as (xi). Law text · (c)

2014

• Pub. L. 113–295, §221(a)(2)(B), inserted "plus" at end of par. (35), redesignated par. (37) as (36), and struck out former par. (36) which read as follows: "the portion of the qualified plug-in electric vehicle credit to which section 30(c)(1) applies, plus". Law text · (b)
• Pub. L. 113–295, §209(f)(1), struck out "plus" at end of par. (35), added par. (36), and redesignated former par. (36) as (37). Amendment was executed to subsec. (b) as it appeared after amendment by Pub. L. 111–148, §1421(b), to reflect the probable intent of Congress, despite amendment being effe… Law text · (b)
• Pub. L. 113–295, §220(b), substituted "credit" for "credit credit" in introductory provisions. Law text · (c)
• Pub. L. 113–295, §221(a)(6), struck out par. (3) which related to ordering of credits no longer listed. Law text · (d)

2010

• Pub. L. 111–148, §1421(b), added par. (36). (Patient Protection and Affordable Care Act) Law text · (b)
• Pub. L. 111–240, §2013(c)(1), inserted "the eligible small business credits," after "the New York Liberty Zone business employee credit,". (Small Business Jobs Act of 2010) Law text · (c)
• Pub. L. 111–240, §2013(c)(2), inserted ", the eligible small business credits," after "the New York Liberty Zone business employee credit". (Small Business Jobs Act of 2010) Law text · (c)
• Pub. L. 111–240, §2013(c)(3), inserted "the eligible small business credits and" before "the specified credits". (Small Business Jobs Act of 2010) Law text · (c)
• Pub. L. 111–148, §1421(c), added cl. (vi) and redesignated former cls. (vi) to (viii) as (vii) to (ix), respectively. (Patient Protection and Affordable Care Act) Law text · (c)
• Pub. L. 111–240, §2013(a), added par. (5) and redesignated former par. (5) as (6). (Small Business Jobs Act of 2010) Law text · (c), (6)

2009

• Pub. L. 111–5 substituted "30D(c)(1)" for "30D(d)(1)". (American Recovery and Reinvestment Act of 2009) Law text · (b)

2008

• Pub. L. 110–246, §15343(b), added par. (32). (Food, Conservation, and Energy Act of 2008) Law text · (b)
• Pub. L. 110–245 added par. (33). (Heroes Earnings Assistance and Relief Tax Act of 2008) Law text · (b)
• Pub. L. 110–343, §115(b), added par. (34). (Emergency Economic Stabilization Act of 2008) Law text · (b)
• Pub. L. 110–343, §205(c), added par. (35). (Emergency Economic Stabilization Act of 2008) Law text · (b)
• Pub. L. 110–289, §3022(b), added cl. (ii) and redesignated former cls. (ii) and (iii) as (iii) and (iv), respectively. Former cl. (iv) redesignated (v). (Housing and Economic Recovery Act of 2008) Law text · (c)
• Pub. L. 110–343, §316(b)(2), added cl. (v). Former cl. (v) redesignated (vi). (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(b)(1), added cl. (v). Former cl. (v) redesignated (vi). (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–289, §3022(c), added cl. (v). Former cl. (v) redesignated (vi). (Housing and Economic Recovery Act of 2008) Law text · (c)
• Pub. L. 110–289, §3022(b), redesignated cl. (iv) as (v). (Housing and Economic Recovery Act of 2008) Law text · (c)
• Pub. L. 110–343, §316(b)(1), redesignated cl. (v) as (vi). Former cl. (vi) redesignated (vii). (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(b)(2), substituted "section 46 to the extent that such credit is attributable to the rehabilitation credit under section 47, but only with respect to" for "section 47 to the extent attributable to". (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(b)(1), which directed amendment of subpar. (B) by "redesignating clause (vi) as clause (vi) and (vii), respectively", was executed by redesignating cls. (v) and (vi) as (vi) and (vii), respectively, to reflect the probable intent of Congress. (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–289, §3022(c), redesignated cl. (v) as (vi). (Housing and Economic Recovery Act of 2008) Law text · (c)
• Pub. L. 110–343, §316(b)(1), redesignated cl. (vi) as (vii). Former cl. (vii) redesignated (viii). (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §103(b)(1), which directed amendment of subpar. (B) by "redesignating clause (vi) as clause (vi) and (vii), respectively", was executed by redesignating cls. (v) and (vi) as (vi) and (vii), respectively, to reflect the probable intent of Congress. (Emergency Economic Stabilization Act of 2008) Law text · (c)
• Pub. L. 110–343, §316(b)(1), redesignated cl. (vii) as (viii). (Emergency Economic Stabilization Act of 2008) Law text · (c)

2007

• Pub. L. 110–172, §11(a)(6)(A), struck out "and" at end. (Tax Technical Corrections Act of 2007) Law text · (b), (24)
• Pub. L. 110–172, §11(a)(6)(C), inserted "plus" at end. (Tax Technical Corrections Act of 2007) Law text · (b)
• Pub. L. 110–172, §11(a)(6)(B), struck out "plus" at end. (Tax Technical Corrections Act of 2007) Law text · (b)
• Pub. L. 110–28 added cls. (iii) and (iv). (U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007) Law text · (c), (iv)

2006

• Pub. L. 109–432 struck out "and" at end of par. (29), substituted ", plus" for period at end of par. (30), and added par. (31). (Tax Relief and Health Care Act of 2006) Law text · (b)

2005

• Pub. L. 109–59, §11126(b), added par. (20). (Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users" or "SAFETEA-LU) Law text · (b)
• Pub. L. 109–58, §1306(b), as amended by Pub. L. 109–59, §11151(d)(1), added par. (21). (Energy Policy Act of 2005) Law text · (b)
• Pub. L. 109–58, §1322(a)(2), added par. (22). (Energy Policy Act of 2005) Law text · (b)
• Pub. L. 109–58, §1332(b), added par. (23). (Energy Policy Act of 2005) Law text · (b)
• Pub. L. 109–58, §1342(b)(1), which directed the striking out of "plus" at end, could not be executed because "plus" did not appear at end. (Energy Policy Act of 2005) Law text · (b)
• Pub. L. 109–58, §1334(b), added par. (24). (Energy Policy Act of 2005) Law text · (b)
• Pub. L. 109–58, §1341(b)(1), added par. (25). (Energy Policy Act of 2005) Law text · (b)
• Pub. L. 109–58, §1342(b)(1), added par. (26). (Energy Policy Act of 2005) Law text · (b)
• Pub. L. 109–135, §103(b)(1), added par. (27). (Gulf Opportunity Zone Act of 2005) Law text · (b)
• Pub. L. 109–135, §201(b)(1), added pars. (28) to (30). (Gulf Opportunity Zone Act of 2005) Law text · (b)
• Pub. L. 109–135, §412(f)(1), substituted ", the New York Liberty Zone business employee credit, and the specified credits" for "or the New York Liberty Zone business employee credit or the specified credits". (Gulf Opportunity Zone Act of 2005) Law text · (c)
• Pub. L. 109–135, §412(f)(2), substituted "and the specified credits" for "or the specified credits". (Gulf Opportunity Zone Act of 2005) Law text · (c)
• Pub. L. 109–135, §412(f)(3), substituted "means" for "includes" in introductory provisions and inserted "and" at end of cl. (i). (Gulf Opportunity Zone Act of 2005) Law text · (c)

2004

• Pub. L. 108–357, §245(c)(1), added par. (16). (American Jobs Creation Act of 2004) Law text · (b)
• Pub. L. 108–357, §302(b), added par. (17). (American Jobs Creation Act of 2004) Law text · (b)
• Pub. L. 108–357, §339(b), added par. (18). (American Jobs Creation Act of 2004) Law text · (b)
• Pub. L. 108–357, §341(b), added par. (19). (American Jobs Creation Act of 2004) Law text · (b)
• Pub. L. 108–357, §711(b), inserted "or the specified credits" after "employee credit". (American Jobs Creation Act of 2004) Law text · (c), (3)
• Pub. L. 108–357, §711(a), added par. (4) and redesignated former par. (4) as (5). (American Jobs Creation Act of 2004) Law text · (c), (5)

2002

• Pub. L. 107–147, §411(d)(2), substituted "45F(a)" for "45F". (Job Creation and Worker Assistance Act of 2002) Law text · (b)
• Pub. L. 107–147, §301(b)(2), inserted "or the New York Liberty Zone business employee credit" after "employment credit". (Job Creation and Worker Assistance Act of 2002) Law text · (c)
• Pub. L. 107–147, §301(b)(1), added par. (3) and redesignated former par. (3) as (4). (Job Creation and Worker Assistance Act of 2002) Law text · (c), (4)

2001

• Pub. L. 107–16, §619(b), struck out "plus" at end. (Economic Growth and Tax Relief Reconciliation Act of 2001) Law text · (b)
• Pub. L. 107–16, §619(b), substituted ", plus" for period at end. (Economic Growth and Tax Relief Reconciliation Act of 2001) Law text · (b)
• Pub. L. 107–16, §205(b)(1), struck out "plus" at end. (Economic Growth and Tax Relief Reconciliation Act of 2001) Law text · (b)
• Pub. L. 107–16, §619(b), added par. (14). (Economic Growth and Tax Relief Reconciliation Act of 2001) Law text · (b)
• Pub. L. 107–16, §205(b)(1), substituted ", plus" for period at end. (Economic Growth and Tax Relief Reconciliation Act of 2001) Law text · (b)
• Pub. L. 107–16, §205(b)(1), added par. (15). (Economic Growth and Tax Relief Reconciliation Act of 2001) Law text · (b)

2000

• Pub. L. 106–554 added par. (13). (Consolidated Appropriations Act, 2001) Law text · (b)

1996

• Pub. L. 104–188, §1201(e)(1), substituted "work opportunity credit" for "targeted jobs credit". (Small Business Job Protection Act of 1996) Law text · (b)
• Pub. L. 104–188, §1205(a)(2), added par. (12). (Small Business Job Protection Act of 1996) Law text · (b)
• Pub. L. 104–188, §1702(e)(4), amended subpar. (C), as in effect on day before date of enactment of the Revenue Reconciliation Act of 1990 (title XI of Pub. L. 101–508, approved Nov. 5, 1990), by inserting before period at end of first sentence "and without regard to the deduction… (Small Business Job Protection Act of 1996) Law text · (c)

1993

• Pub. L. 103–66, §13302(a)(1), struck out "plus" at end. · (b)
• Pub. L. 103–66, §13322(a), which directed amendment of par. (8) by striking "plus" at end, could not be executed because "plus" did not appear at end. · (b)
• Pub. L. 103–66, §13302(a)(1), substituted ", and" for period at end. · (b)
• Pub. L. 103–66, §13443(b)(1), struck out "plus" at end. · (b)
• Pub. L. 103–66, §13322(a), substituted ", plus" for period at end. · (b)
• Pub. L. 103–66, §13302(a)(1), added par. (9). · (b)
• Pub. L. 103–66, §13443(b)(1), substituted ", plus" for period at end. · (b)
• Pub. L. 103–66, §13322(a), added par. (10). · (b)
• Pub. L. 103–66, §13443(b)(1), added par. (11). · (b)
• Pub. L. 103–66, §13302(c)(1), added par. (2) and redesignated former par. (2) as (3). · (c), (3)

1992

• Pub. L. 102–486 struck out "plus" at end of par. (6), substituted "; plus" for period at end of par. (7), and added par. (8). · (b)

1990

• Pub. L. 101–508, §11813(b)(2)(A), substituted "section 46" for "section 46(a)". · (b)
• Pub. L. 101–508, §11511(b)(1), struck out "plus" at end. · (b)
• Pub. L. 101–508, §11611(b)(1), struck out "plus" at end. · (b)
• Pub. L. 101–508, §11511(b)(1), substituted ", plus" for period at end. · (b)
• Pub. L. 101–508, §11611(b)(1), substituted ", plus" for period at end. · (b)
• Pub. L. 101–508, §11511(b)(1), added par. (6). · (b)
• Pub. L. 101–508, §11611(b)(1), added par. (7). · (b)
• Pub. L. 101–508, §11813(b)(2)(B), redesignated par. (3) as (2) and struck out former par. (2) which permitted an offset of regular investment tax credit against 25 percent of minimum tax. · (c)
• Pub. L. 101–508, §11813(b)(2)(C), inserted "(as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990)" after "46(e)(1)" and "(as so in effect)" after "46(e)(2)". · (c)
• Pub. L. 101–508, §11813(b)(2)(B), redesignated par. (3) as (2). · (c)
• Pub. L. 101–508, §11813(b)(2)(D)(i), substituted "any provision" for "sections 46(f), 47(a), 196(a), and any other provision" in introductory provisions. · (d)
• Pub. L. 101–508, §11813(b)(2)(D)(ii), amended par. (2) generally. Prior to amendment, par. (2) read as follows: "The order in which credits attributable to a percentage referred to in section 46(a) are used shall be determined on the basis of the order in which such percentages are … · (d)
• Pub. L. 101–508, §11813(b)(2)(D)(iii), amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: "the employee plan percentage (as defined in section 46(a)(2)(E), as in effect on the day before the date of the enactment of the Tax Reform Act of 1984) shall b… · (d)

1988

• Pub. L. 100–647, §1007(g)(2), amended pars. (1) to (3) generally, substituting pars. (1) and (2) for former pars. (1) to (3), redesignating former par. (4) as (3), and substituting "subparagraph (B) of paragraph (1)" for "subparagraphs (A) and (B) of paragraph (1)" in subpars. (A), (B)… · (c)
• Pub. L. 100–647, §1007(g)(8), made technical correction to directory language of Pub. L. 99–514, §701(c)(4), see 1986 Amendment note below. · (c)
• Pub. L. 100–647, §1002(e)(8)(A), substituted "Ordering rules" for "Special rules for certain regulated companies" in heading and amended text generally. Prior to amendment, text read as follows: "In the case of any taxpayer to which section 46(f) applies, for purposes of sections 46(f)… · (d)

1986

• Pub. L. 99–514, §231(d)(1), added par. (4). · (b)
• Pub. L. 99–514, §1171(b)(1), struck out former par. (4) which read as follows: "the employee stock ownership credit determined under section 41(a)". · (b)
• Pub. L. 99–514, §252(b)(1), added par. (5). · (b)
• Pub. L. 99–514, §701(c)(4), as amended by Pub. L. 100–647, §1007(g)(8), added pars. (1) to (3), redesignated former par. (3) as (4), and struck out former par. (1) "In general" which provided: "The credit allowed under subsection (a) for any taxable year shall not exceed the sum of— · (c)
• Pub. L. 99–514, §221(a), substituted "75 percent" for "85 percent". · (c)
• Pub. L. 99–514, §252(b)(2), inserted "42(a),". · (d)
• Pub. L. 99–514, §1171(b)(2), substituted "and 196(a)" for "196(a), and 404(i)" and struck out "41(a)," after "40(a)". · (d)
• Pub. L. 99–514, §231(d)(3)(B), inserted "41(a)," after "40(a),". · (d)

1984

• Pub. L. 98–369, §612(e)(1), substituted "section 26(b)" for "section 25(b)". · (c)