Source: https://irc.bloombergtax.com/public/uscode/doc/irc/section_39
Timestamp: 2020-07-04 15:12:17
Document Index: 613538490

Matched Legal Cases: ['§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39', '§ 39']

Internal Revenue Code, § 39. Carryback And Carryforward Of Unused Credits
I.R.C. § 39(a) In General
I.R.C. § 39(a)(1) 1-Year Carryback And 20-Year Carryforward —
I.R.C. § 39(a)(1)(A) —
I.R.C. § 39(a)(1)(B) —
a business credit carryforward to each of the 20 taxable years following the unused credit year, and, subject to the limitations imposed by subsections (b) and (c), shall be taken into account under the provisions of section 38(a) in the manner provided in section 38(a).
I.R.C. § 39(a)(2) Amount Carried To Each Year
I.R.C. § 39(a)(2)(A) Entire Amount Carried To First Year —
I.R.C. § 39(a)(2)(B) Amount Carried To Other 20 Years —
I.R.C. § 39(a)(3) 5-Year Carryback For Marginal Oil And Gas Well Production Credit —
I.R.C. § 39(a)(3)(A) —
I.R.C. § 39(a)(3)(B) —
I.R.C. § 39(a)(3)(C) —
I.R.C. § 39(a)(3)(C)(i) —
I.R.C. § 39(a)(3)(C)(ii) —
I.R.C. § 39(b) Limitation On Carrybacks —
I.R.C. § 39(b)(1) —
I.R.C. § 39(b)(2) —
I.R.C. § 39(c) Limitation On Carryforwards —
I.R.C. § 39(d) Transitional Rule —
(Added by Pub. L. 98-369, div. A, title IV, Sec. 473, July 18, 1984, 98 Stat. 828, and amended Pub. L. 99-514, title II, Sec. 231(d)(3)(C)(i), title XVIII, Sec. 1846, Oct. 22, 1986, 100 Stat. 2179, 2856; Pub. L. 100-647, title I, Sec. 1002(l)(26), Nov. 10, 1988, 102 Stat. 3381; Pub. L. 101-508, title XI, Sec. 11511(b)(2), 11611(b)(2), 11801(a)(2), Nov. 5, 1990, 104 Stat. 1388-485, 1388-503, 1388-520; Pub. L. 102-486, title XIX, Sec. 1914(c), Oct. 24, 1992, 106 Stat. 2776; Pub. L. 103-66, title XIII, Sec. 13302, 13322, 13443, Aug. 10, 1993, 107 Stat. 312; Pub. L. 104-188, title I, Sec. 1205(c), 1703(n)(1), Aug. 20, 1996, 110 Stat. 1755; Pub. L. 105-34, title VII, X, Sec. 701(b)(1), 1083(a), Aug. 5, 1997, 111 Stat 788; Pub. L. 105-206, title VI, Sec. 6010(n), July 22, 1998, 112 Stat. 685; Pub. L. 106-554, Sec. 121, Dec. 21, 2000, 114 Stat. 2763; Pub. L. 107-16, title VI, Sec. 619(c)(1), June 7, 2001, 115 Stat. 38; Pub. L. 108-357, title II, III, Sec. 245(b)(1), Sec. 341(c), Oct. 22, 2004, 118 Stat. 1418; Pub. L. 109-135, title IV, Sec. 412(g), Dec. 21, 2005, 119 Stat. 2577; Pub. L. 111-240, title II, Sec. 2012, Sept. 27, 2010, 124 Stat. 2504; Pub. L. 115-141, Div. U, title IV, Sec. 401(b)(5)(E), (5)(F), Mar. 23, 2018, 132 Stat. 348.)
2018--Subsec. (a). Pub. L. 115-141, Div. U, Sec. 401(b)(5)(E), amended subsec. (a) by striking par. (4). Before being struck, par. (4) read as follows:
“(4) 5-year Carryback For Eligible Small Business Credits—
“(A) In General.— Notwithstanding subsection (d), in the case of eligible small business credits determined in the first taxable year of the taxpayer beginning in 2010—
“(i) paragraph (1) shall be applied by substituting ‘each of the 5 taxable years’ for ‘the taxable year’ in subparagraph (A) thereof, and
“(ii) paragraph (2) shall be applied—
(II) by substituting ‘24 taxable years’ for ‘20 taxable years’ in subparagraph (B) thereof.
(B) Eligible Small Business Credits—For purpose of this subsection, the term ‘eligible small business credits’ has the meaning given such term by section 38(c)(5)(B).
Subsec. (a)(3)(A). Pub. L. 115-141, Div. U, Sec. 401(b)(5)(F), amended subpar. (A) by striking “or the eligible business credits”.
2010--Subsec. (a)(3)(A). Pub. L. 111-240, Sec. 2012(b), amended subpar. (A) by inserting “or the eligible small business credits” after “credit)”.
Subsec. (a)(4). Pub. L. 111-240, Sec. 2012(a), amended subsec. (a) by adding par. (4).
2005--Subsec. (a)(1)(A). Pub. L. 109-135, Sec. 412(g)(1), amended subpar. (A) by substituting “the taxable year” for “each of the 1 taxable years”.
Subsec. (a)(3)(B). Pub. L. 109-135, Sec. 412(g)(2), amended subpar. (B). Before amendment it read as follows:
“(B) paragraph (1) shall be applied by substituting ‘5 taxable years’ for ‘1 taxable years’ in subparagraph (A) thereof, and”.
2004--Subsec. (c)(3). Pub. L. 108-357, Sec. 341(c), added par. (3)
Subsec. (d). Pub. L. 108-357, Sec. 245(b)(1), amended subsec. (d). Before amendment it read as follows:
“(d) Transitional rules
“(1) NO CARRYBACK OF ENHANCED OIL RECOVERY CREDIT BEFORE 1991.
“No portion of the unused business credit for any taxable year which is attributable to the credit determined under section 43(a) (relating to enhanced oil recovery credit) may be carried to a taxable year beginning before January 1, 1991.
“(2) NO CARRYBACK OF SECTION 44 CREDIT BEFORE ENACTMENT.
“No portion of the unused business credit for any taxable year which is attributable to the disabled access credit determined under section 44 may be carried to a taxable year ending before the date of the enactment of section 44.
“(3) NO CARRYBACK OF RENEWABLE ELECTRICITY PRODUCTION CREDIT BEFORE EFFECTIVE DATE.
“No portion of the unused business credit for any taxable year which is attributable to the credit determined under section 45 (relating to electricity produced from certain renewable resources) may be carried back to any taxable year ending before January 1, 1993 (before January 1, 1994, to the extent such credit is attributable to wind as a qualified energy resource).
(4) Empowerment zone employment credit. --
“No portion of the unused business credit which is attributable to the credit determined under section 1396 (relating to empowerment zone employment credit) may be carried to any taxable year ending before January 1, 1994.
“(5) No carryback of section 45A credit before enactment. --
“No portion of the unused business credit for any taxable year which is attributable to the Indian employment credit determined under section 45A may be carried to a taxable year ending before the date of the enactment of section 45A.
“(6) No carryback of section 45B credit before enactment. --
“No portion of the unused business credit for any taxable year which is attributable to the employer social security credit determined under section 45B may be carried back to a taxable year ending before the date of the enactment of section 45B.
“(7) No carryback of section 45C credit before July 1, 1996
“No portion of the unused business credit for any taxable year which is attributable to the orphan drug credit determined under section 45C may be carried back to a taxable year ending before July 1, 1996.
“(8) No carryback of DC zone credits before effective date.--
“No portion of the unused business credit for any taxable year which is attributable to the credits allowable under subchapter U by reason of section 1400 may be carried back to a taxable year ending before the date of the enactment of section 1400 [enacted: Aug. 5, 1997].
“(9) No carryback of new markets tax credit before January 1, 2001.--
“No portion of the unused business credit for any taxable year which is attributable to the credit under section 45D may be carried back to a taxable year ending before January 1, 2001.
“(10) NO CARRYBACK OF SMALL EMPLOYER PENSION PLAN STARTUP COST CREDIT BEFORE JANUARY 1, 2002.--
“No portion of the unused business credit for any taxable year which is attributable to the small employer pension plan startup cost credit determined under section 45E may be carried back to a taxable year beginning before January 1, 2002.”
2001--Subsec. (d)(1). Pub. L. 107-16, Sec. 619(c)(1), added par. (10).
2000--Subsec. (d)(9). Pub. L. 106-554, Sec. 121(b)(2), added par. (9).
1997--Subsec. (a)(1). Pub. L. 105-34, Sec. 1083(a)(1), substituted “1” for “3” each place it appeared and substituted “20" for “15” each place it appeared.
Subsec. (a)(2). Pub. L. 105-34, Sec. 1083(a)(2), as amended by Pub. L. 105-206, Sec. 6010(n), substituted “21” for “18” each place it appeared and substituted “20” for “17” each place it appeared.
Subsec. (d)(8). Pub. L. 105-34, Sec. 701(b)(1), added par. (8).
1996--Subsec. (d). Pub. L. 104-188, Sec. 1703(n)(1), struck “45” in heading and inserting “45A”; and struck “45” in the heading of paragraph (6) and inserted “45B”.
Subsec. (d)(7). Pub. L. 104-188, Sec. 1205(c), added par. (7).
1993--Subsec. (d)(4). Pub. L. 103-66, Section 13302(a)(2) amended subsection (d) by adding at the end a new paragraph (4).
Subsec. (d)(5). Pub. L. 103-66, Section 13322(d) amended subsection (d) by adding at the end thereof a new paragraph (5).
Subsec. (d)(6). Pub. L. 103-66, Section 13443(b)(2) amended subsection (d) by adding at the end a new paragraph (6).
1992--Subsec. (d). Pub. L. 102-486, Section 1914(c) amended subsection (d) by redesignating the paragraph added by section 11511(b)(2) of the Revenue Reconciliation Act of 1990 as paragraph (1), by redesignating the paragraph added by section 11611(b)(2) of such Act as paragraph (2), and by adding a new paragraph (3).
1990--Subsec. (d)(1) to (4). Pub. L. 101-508, Sec. 11801(a)(2), struck out par. (1) which related to carryforwards from an unused credit year which did not expire before first taxable year beginning after Dec. 31, 1983, par. (2) which related to carrybacks in determining amount allowable as credit including net tax liability, par. (3) which related to similar rules for research credit under section 30, and par. (4) which provided for no carryback of low-income housing credit before 1987.
Subsec. (d)(5). Pub. L. 101-508, Sec. 11611(b)(2), added par. (5) relating to carryback of section 44 credit.
Pub. L. 101-508, Sec. 11511(b)(2), added par. (5) relating to carryback of enhanced oil recovery credit.
1988--Subsec. (d)(4). Pub. L. 100-647, Sec. 1002(1)(26), added par. (4).
1986--Subsec. (d)(1)(A). Pub. L. 99-514, Sec. 1846(1), inserted
‘(as in effect before the enactment of the Tax Reform Act of 1984)’.
Subsec. (d)(2)(B). Pub. L. 99-514, Sec. 1846(2), substituted ‘as defined in section 26(b)’ for ‘as so defined in section 25(b)’.
Subsec. (d)(3). Pub. L. 99-514, Sec. 231(d)(3)(C)(i), added par. (3).
Amendments by Pub. L. 115-141, Div. U, Sec. 401(b)(5)(E), (5)(F), effective March 23, 2018.
Amendments by Section 2012 of Pub. L. 111-240 effective for credits determined in taxable years beginning after December 31, 2009.
Amendments by Section 412(g) of Pub. L. 109-135 is applicable on the date of the enactment of this Act [Enacted: Dec. 21, 2005].
Amendment by Section 245(b)(1) of Pub. L. 108-357 is applicable to taxable years ending after December 31, 2003.
Amendment by Section 341(c) of Pub. L. 108-357 is applicable to production in taxable years beginning after December 31, 2004.
Section 619(d) of Pub. L. 107-16, as amended by Pub. L. 107-147, Sec. 411(n)(2), provided that: “The amendments mae by this section shall apply to costs paid or incurred in taxable years beginning after December 31, 2001 with respect to qualified employer plans first effective after such date.”
Amendment by section 121(b)(2) of Pub. L. 106-554 effective for investments made after December 31, 2000.
Amendments by section 1803(a) of Pub. L. 105-34 effective for credits arising in taxable years beginning after December 31, 1997.
Amendment by section 701(b)(1) of Pub. L. 105-34 effective on the date of enactment [enacted: Aug. 5, 1997].
Section 1205(e) of Pub. L. 104-188, provided that: “Any amendments made by this section shall apply to amounts paid or incurred in taxable years ending after June 30, 1996.”
Amendment by section 13322 of Pub. L. 103-66 applicable to wages paid or incurred after Dec. 31, 1993.
Amendment by section 1914(c) of Pub. L. 102-486 applicable to taxable years ending after December 31, 1992.
Amendment by section 11511(b)(2) of Pub. L. 101-508 applicable to costs paid or incurred in taxable years beginning after Dec. 31, 1990, see section 11511(d)(1) of Pub. L. 101-508, set out as an Effective Date note under section 43 of this title.
Amendment by section 11611(b)(2) of Pub. L. 101-508 applicable to expenditures paid or incurred after Nov. 5, 1990, see section 11611(e)(1) of Pub. L. 101-508, set out as a note under section 38 of this title.
Amendment by section 231(d)(3)(C)(i) of Pub. L. 99-514 applicable to taxable years beginning after Dec. 31, 1985, see section 231(g) of Pub. L. 99-514, set out as a note under section 41 of this title.
Amendment by section 1846 of Pub. L. 99-514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98-369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99-514, set out as a note under section 48 of this title.
For provisions that nothing in amendment by section 11801(a)(2) of Pub. L. 101-508 be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to Nov. 5, 1990, for purposes of determining liability for tax for periods ending after Nov. 5, 1990, see section 11821(b) of Pub. L. 101-508, set out as a note under section 29 of this title.
Another prior section 39 was renumbered section 35 of this title.