Texas Tax Code

§ 172.107 — CARRYFORWARD

TX § 172.107Title 2. STATE TAXATION · Part F. FRANCHISE TAX; CREDITS · Ch. 172. TAX CREDIT FOR CERTIFIED REHABILITATION OF CERTIFIED HISTORIC STRUCTURES

Statute text

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(a)If an entity is eligible for a credit that exceeds the limitation under Section 172.106(b), the entity may carry the unused credit forward for not more than five consecutive reports.

(b)A carryforward is considered the remaining portion of a credit that cannot be claimed in the current year because of the limitation under Section 172.106(b).

Legislative history

Added by Acts 2013, 83rd Leg., R.S., Ch. 1232 (H.B. 500), Sec. 14(a), eff. January 1, 2015. Transferred, redesignated and amended from Tax Code, Subchapter S, Chapter 171 by Acts 2023, 88th Leg., R.S., Ch. 83 (S.B. 1013), Sec. 2, eff. September 1, 2023.