Sec. 171.659. CARRYFORWARD. If a taxable entity is eligible for a credit that exceeds the limitation under Section 171.658, the taxable entity may carry the unused credit forward for not more than 20 consecutive reports. Credits, including credit carryforwards, are considered to be used in the following order:
(1) a credit carryforward of unused credits accrued under Subchapter O before its repeal on January 1, 2008, and claimed as authorized by Section 18(d), Chapter 1 (H.B. 3), Acts of the 79th Legislature, 3rd Called Session, 2006;
(2) a credit carryforward under this subchapter; and
(3) a current year credit.
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