Source: https://law.justia.com/codes/us/2015/title-26/subtitle-a/chapter-1/subchapter-b/part-ix/sec.-280c/
Timestamp: 2020-02-21 06:41:05
Document Index: 376054542

Matched Legal Cases: ['§ 280', '§202', '§322', '§6', '§103', '§4', '§474', '§231', '§1847', '§4008', '§7110', '§13302', '§1205', '§502', '§1', '§311', '§339', '§103', '§201', '§405', '§7', '§15343', '§111', '§4', '§15343', '§1401', '§9023', '§10105', '§ 280', '§280', '§202', '§322', '§6', '§103', '§4', '§474', '§231', '§1847', '§4008', '§7110', '§13302', '§1205', '§502', '§1', '§311', '§339', '§103', '§201', '§405', '§7', '§15343', '§111', '§4', '§15343', '§1401', '§9023', '§10105', '§9023', '§201', '§1205', '§13322', '§7110', '§1847', '§474', '§4', '§322', '§6', '§103', '§2', '§6', '§7814']

26 U.S.C. § 280C (2015) - Certain expenses for which credits are allowable :: Title 26 - Internal Revenue Code (Sections 1 - 9834) - US Code :: Justia
Justia US Law US Codes and Statutes US Code 2015 US Code Title 26 - Internal Revenue Code (Sections 1 - 9834) Subtitle A - Income Taxes (Sections 1 - 1564) Chapter 1 - Normal Taxes and Surtaxes (Sections 1 - 1400U-3) Subchapter B - Computation of Taxable Income (Sections 61 - 291) Part IX - Items Not Deductible (Sections 261 - 280H) Sec. 280C - Certain expenses for which credits are allowable
Sec. 280C - Certain expenses for which credits are allowable
Contains section 280C
Source Credit Added Pub. L. 95-30, title II, §202(c)(1), May 23, 1977, 91 Stat. 147; amended Pub. L. 95-600, title III, §322(d)(1), Nov. 6, 1978, 92 Stat. 2838; Pub. L. 96-178, §6(c)(4), Jan. 2, 1980, 93 Stat. 1298; Pub. L. 96-222, title I, §103(a)(7)(D)(iv), Apr. 1, 1980, 94 Stat. 212; Pub. L. 97-414, §4(b)(1), (2)(A), Jan. 4, 1983, 96 Stat. 2055; Pub. L. 98-369, div. A, title IV, §474(r)(10), July 18, 1984, 98 Stat. 841; Pub. L. 99-514, title II, §231(d)(3)(E), title XVIII, §1847(b)(8), Oct. 22, 1986, 100 Stat. 2179, 2856; Pub. L. 100-647, title IV, §4008(a), Nov. 10, 1988, 102 Stat. 3652; Pub. L. 101-239, title VII, §§7110(c)(1), 7814(e)(2)(A), Dec. 19, 1989, 103 Stat. 2325, 2413; Pub. L. 103-66, title XIII, §§13302(b)(1), 13322(c)(1), Aug. 10, 1993, 107 Stat. 555, 563; Pub. L. 104-188, title I, §1205(d)(7), Aug. 20, 1996, 110 Stat. 1776; Pub. L. 106-170, title V, §502(c)(2), Dec. 17, 1999, 113 Stat. 1919; Pub. L. 106-554, §1(a)(7) [title III, §311(a)(1)], Dec. 21, 2000, 114 Stat. 2763, 2763A-639; Pub. L. 108-357, title III, §339(c), Oct. 22, 2004, 118 Stat. 1484; Pub. L. 109-135, title I, §103(b)(2), title II, §201(b)(2), Dec. 21, 2005, 119 Stat. 2595, 2607; Pub. L. 109-432, div. A, title IV, §405(c), Dec. 20, 2006, 120 Stat. 2957; Pub. L. 110-172, §7(a)(1)(B), Dec. 29, 2007, 121 Stat. 2481; Pub. L. 110-234, title XV, §15343(c), May 22, 2008, 122 Stat. 1519; Pub. L. 110-245, title I, §111(c), June 17, 2008, 122 Stat. 1635; Pub. L. 110-246, §4(a), title XV, §15343(c), June 18, 2008, 122 Stat. 1664, 2281; Pub. L. 111-148, title I, §§1401(b), 1421(d)(1), title IX, §9023(c)(2), title X, §10105(e)(3), Mar. 23, 2010, 124 Stat. 219, 242, 880, 906.
Statutes at Large References 91 Stat. 147
92 Stat. 2838, 2839
93 Stat. 1298, 1297
94 Stat. 212, 211
96 Stat. 2055
98 Stat. 841
100 Stat. 2179, 2095
102 Stat. 3652
103 Stat. 2325, 2413
113 Stat. 1919
118 Stat. 1484
119 Stat. 2595
120 Stat. 2957
122 Stat. 1519, 1635, 1664
124 Stat. 219
Public and Private Laws Public Law 95-30, Public Law 95-600, Public Law 96-178, Public Law 96-222, Public Law 97-414, Public Law 98-369, Public Law 99-514, Public Law 100-647, Public Law 101-239, Public Law 103-66, Public Law 104-188, Public Law 106-170, Public Law 106-554, Public Law 108-357, Public Law 109-135, Public Law 109-432, Public Law 110-172, Public Law 110-234, Public Law 110-245, Public Law 110-246, Public Law 111-148
26 U.S.C. § 280C (2015)
§280C. Certain expenses for which credits are allowable(a) Rule for employment credits
No deduction shall be allowed for that portion of the wages or salaries paid or incurred for the taxable year which is equal to the sum of the credits determined for the taxable year under sections 45A(a), 45P(a), 51(a), and 1 1396(a), 1400P(b), and 1400R. In the case of a corporation which is a member of a controlled group of corporations (within the meaning of section 52(a)) or a trade or business which is treated as being under common control with other trades or businesses (within the meaning of section 52(b)), this subsection shall be applied under rules prescribed by the Secretary similar to the rules applicable under subsections (a) and (b) of section 52.
(b) Credit for qualified clinical testing expenses for certain drugs(1) In general
(c) Credit for increasing research activities(1) In general
(3) Election of reduced credit(A) In general
In the case of any taxable year for which an election is made under this paragraph—
The amount of credit determined under this subparagraph for any taxable year shall be the amount equal to the excess of—
(II) the maximum rate of tax under section 11(b)(1).
(g) 2 Credit for health insurance premiums
(g) 3 Qualifying therapeutic discovery project credit(1) In general
No deduction shall be allowed for that portion of the qualified investment (as defined in section 48D(b)) otherwise allowable as a deduction for the taxable year which—
(B) is equal to the amount of the credit determined for such taxable year under section 48D(a), reduced by—
In the case of expenses described in paragraph (1)(A) taken into account in determining the credit under section 48D for the taxable year, if—
(Added Pub. L. 95–30, title II, §202(c)(1), May 23, 1977, 91 Stat. 147; amended Pub. L. 95–600, title III, §322(d)(1), Nov. 6, 1978, 92 Stat. 2838; Pub. L. 96–178, §6(c)(4), Jan. 2, 1980, 93 Stat. 1298; Pub. L. 96–222, title I, §103(a)(7)(D)(iv), Apr. 1, 1980, 94 Stat. 212; Pub. L. 97–414, §4(b)(1), (2)(A), Jan. 4, 1983, 96 Stat. 2055; Pub. L. 98–369, div. A, title IV, §474(r)(10), July 18, 1984, 98 Stat. 841; Pub. L. 99–514, title II, §231(d)(3)(E), title XVIII, §1847(b)(8), Oct. 22, 1986, 100 Stat. 2179, 2856; Pub. L. 100–647, title IV, §4008(a), Nov. 10, 1988, 102 Stat. 3652; Pub. L. 101–239, title VII, §§7110(c)(1), 7814(e)(2)(A), Dec. 19, 1989, 103 Stat. 2325, 2413; Pub. L. 103–66, title XIII, §§13302(b)(1), 13322(c)(1), Aug. 10, 1993, 107 Stat. 555, 563; Pub. L. 104–188, title I, §1205(d)(7), Aug. 20, 1996, 110 Stat. 1776; Pub. L. 106–170, title V, §502(c)(2), Dec. 17, 1999, 113 Stat. 1919; Pub. L. 106–554, §1(a)(7) [title III, §311(a)(1)], Dec. 21, 2000, 114 Stat. 2763, 2763A-639; Pub. L. 108–357, title III, §339(c), Oct. 22, 2004, 118 Stat. 1484; Pub. L. 109–135, title I, §103(b)(2), title II, §201(b)(2), Dec. 21, 2005, 119 Stat. 2595, 2607; Pub. L. 109–432, div. A, title IV, §405(c), Dec. 20, 2006, 120 Stat. 2957; Pub. L. 110–172, §7(a)(1)(B), Dec. 29, 2007, 121 Stat. 2481; Pub. L. 110–234, title XV, §15343(c), May 22, 2008, 122 Stat. 1519; Pub. L. 110–245, title I, §111(c), June 17, 2008, 122 Stat. 1635; Pub. L. 110–246, §4(a), title XV, §15343(c), June 18, 2008, 122 Stat. 1664, 2281; Pub. L. 111–148, title I, §§1401(b), 1421(d)(1), title IX, §9023(c)(2), title X, §10105(e)(3), Mar. 23, 2010, 124 Stat. 219, 242, 880, 906.)
2010—Subsec. (g). Pub. L. 111–148, §9023(c)(2), added subsec. (g) relating to qualifying therapeutic discovery project credit.
2008—Subsec. (a). Pub. L. 110–245 inserted "45P(a)," after "45A(a),".
2007—Subsec. (d). Pub. L. 110–172 amended heading and text generally. Prior to amendment, text read as follows: "No deduction shall be allowed for that portion of the expenses otherwise allowable as a deduction for the taxable year which is equal to the amount of the credit determined for the taxable year under section 45H(a)."
2005—Subsec. (a). Pub. L. 109–135, §201(b)(2), substituted "1400P(b), and 1400R" for "and 1400P(b)".
2000—Subsec. (c)(1). Pub. L. 106–554 struck out "or credit" after "deduction" in two places.
1999—Subsec. (c)(1). Pub. L. 106–170 inserted "or credit" after "deduction" in two places.
1996—Subsec. (b)(1). Pub. L. 104–188, §1205(d)(7), substituted "section 45C(b)" for "section 28(b)", "section 45C" for "section 28", and "section 38(c)" for "subsection (d)(2) thereof".
1993—Subsec. (a). Pub. L. 103–66, §13322(c)(1), substituted "45A(a), 51(a), and" for "51(a)".
1989—Subsec. (c)(1), (2)(A). Pub. L. 101–239, §7110(c)(1), struck out "50 percent of" before "the amount of the credit".
1986—Subsec. (b)(1), (2)(A). Pub. L. 99–514, §1847(b)(8), substituted "section 28(b)" for "section 29(b)" in par. (1) and "section 28" for "section 29" in pars. (1) and (2)(A).
1984—Subsec. (a). Pub. L. 98–369, §474(r)(10)(A), (B), redesignated subsec. (b) as (a), in heading substituted "targeted jobs credit" for "section 44B credit", and in text substituted "No deduction shall be allowed for that portion of the wages or salaries paid or incurred for the taxable year which is equal to the amount of the credit determined for the taxable year under section 51(a)" for "No deduction shall be allowed for that portion of the wage or salaries paid or incurred for the taxable year which is equal to the amount of the credit allowable for the taxable year under section 44B (relating to credit for employment of certain new employees) determined without regard to the provisions of section 53 (relating to limitation based on amount of tax)". Former subsec. (a), which had provided that no deduction would be allowed for that portion of the work incentive program expenses paid or incurred for the taxable year which was equal to the amount of the credit allowable for the taxable year under section 40 (relating to credit for expenses of work incentive programs) determined without regard to the provisions of section 50A(a)(2) (relating to limitation based on amount of tax), and that in the case of a corporation which was a member of a controlled group of corporations (within the meaning of section 50B(g)(1) or a trade or business which was treated as being under common control with other trades or businesses within the meaning of section 50B(g)(2), this subsection would be applied under rules prescribed by the Secretary similar to the rules applicable under paragraphs (1) and (2) of section 50B(g), was struck out.
1983—Pub. L. 97–414, §4(b)(2)(A), substituted "Certain expenses for which credits are allowable" for "Portion of wages for which credit is claimed under section 40 or 44B" in section catchline.
1978—Pub. L. 95–600, as amended by Pub. L. 96–178 and Pub. L. 96–222, substituted "section 40 or 44B" for "section 44B" in section catchline, and in text designated existing provisions as subsec. (b) and added subsec. (a).
Pub. L. 95–600, title III, §322(e), Nov. 6, 1978, 92 Stat. 2839, as amended by Pub. L. 96–178, §6(a), (b), Jan. 2, 1980, 93 Stat. 1297; Pub. L. 96–222, title I, §103(a)(7)(A), (B), Apr. 1, 1980, 94 Stat. 211; Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095, provided that:
"(1) In general.—Except as otherwise provided in this subsection, the amendments made by this section [amending this section and sections 50A and 50B of this title] shall apply to work incentive program expenses paid or incurred after December 31, 1978, in taxable years ending after such date; except that so much of the amendment made by subsection (a) as affects section 50A(a)(2) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] shall apply to taxable years beginning after December 31, 1978. For purposes of applying section 50A(a)(2) of the Internal Revenue Code of 1986 with respect to a taxable year beginning before January 1, 1979, the rules of sections 50A(a)(4), 50A(a)(5), and 50B(e)(3) of such Code (as in effect on the day before the date of the enactment of this Act [Nov. 6, 1978] shall apply.
"(2) Special rules for certain eligible employees.—
"(A) Eligible employees hired before september 27, 1978.—In the case of any eligible employee (as defined in section 50B(h)) hired before September 27, 1978, no credit shall be allowed under section 40 with respect to second-year work incentive program expenses (as defined in section 50B(a)) attributable to service performed by such employee.
"(B) Eligible employees hired after september 26, 1978.—In the case of any eligible employee (as defined in section 50B(h)) hired after September 26, 1978, for purposes of applying the amendments made by this section, such individual shall be treated for purposes of the credit allowed by section 40 as having first begun work for the taxpayer not earlier than January 1, 1979, and any wages paid or incurred after December 31, 1978, with respect to such individual shall be considered to be attributable to services rendered after that date."
[Pub. L. 96–178, §6(d), Jan. 2, 1980, 93 Stat. 1298, provided that: "Any amendment made by this section to the Revenue Act of 1978 [amending section 322(e)(1) and (2) of Pub. L. 95–600, set out above] shall take effect as if it had been included in the provision of the Revenue Act of 1978 [Pub. L. 95–600] to which such amendment relates."]
Pub. L. 101–239, title VII, §7814(e)(2)(B), Dec. 19, 1989, 103 Stat. 2413, provided that: "In the case of a taxable year for which the last date for making the election under section 280C(c)(3) of the Internal Revenue Code of 1986 (as added by subparagraph (A)) is on or before the date which is 75 days after the date of the enactment of this Act [Dec. 19, 1989], such an election for such year may be made—
2 Another subsec. (g) is set out after subsec. (h).
3 Another subsec. (g) is set out before subsec. (h).