Texas Tax Code

§ 171.556 — LENGTH OF CREDIT; LIMITATION

TX § 171.556Title 2. STATE TAXATION · Part F. FRANCHISE TAX; CREDITS · Ch. 171. FRANCHISE TAX · Art. K. TAX CREDIT FOR CERTAIN HOUSING DEVELOPMENTS

Statute text

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(a)A taxable entity entitled to a credit under this subchapter shall claim the credit in equal installments during each year of the credit period.

(b)The total credit claimed under this subchapter for a report, including any carry forward or backward under Section 171.557, may not exceed the amount of tax due for the report after any other applicable credit.

Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 811 (H.B. 1058), Sec. 1, eff. January 1, 2024.