Sec. 171.653. INELIGIBILITY FOR CREDIT FOR CERTAIN PERIODS. (a) A taxable entity is not eligible for a credit on a report against the tax imposed under this chapter for qualified research expenses incurred during the period on which the report is based if the taxable entity, or a member of the combined group if the taxable entity is a combined group, received an exemption under Section 151.3182 during that period.
(b) A taxable entity's ineligibility under this section for a credit on a report for the period on which the report is based does not affect the taxable entity's eligibility to claim a carryforward of unused credit under Section 171.659 on that report.
Added by Acts 2013, 83rd Leg., R.S., Ch. 1266 (H.B. 800), Sec. 3, eff. January 1, 2014.
Structure Texas Statutes
Subchapter M. Tax Credit for Certain Research and Development Activities
Section 171.652. Eligibility for Credit
Section 171.653. Ineligibility for Credit for Certain Periods
Section 171.654. Amount of Credit
Section 171.655. Attribution of Expenses Following Transfer of Controlling Interest
Section 171.656. Combined Reporting
Section 171.657. Burden of Establishing Credit
Section 171.660. Assignment Prohibited
Section 171.661. Application for Credit
Section 171.663. Reporting of Estimates and Collection of Information