Editor's Note:
Pub. L. 117-169,
Sec. 10101, amended Sec. 53 with a delayed effective date as indicated
below.
I.R.C. § 53(a) Allowance Of Credit —
There shall be allowed as a credit against the tax imposed
by this chapter for any taxable year an amount equal to the minimum
tax credit for such taxable year.
I.R.C. § 53(b) Minimum Tax Credit —
For purposes of subsection (a), the minimum tax credit for
any taxable year is the excess (if any) of—
I.R.C. § 53(b)(1) —
the adjusted net minimum tax imposed
for all prior taxable years beginning after 1986, over
I.R.C. § 53(b)(2) —
the amount allowable as a credit under
subsection (a) for
such prior taxable years.
I.R.C. § 53(c) Limitation —
The credit allowable under subsection (a) for any taxable year shall
not exceed the excess (if any) of—
I.R.C. § 53(c)(1) —
the regular tax liability of the taxpayer
for such taxable year reduced by the sum of the credits allowable
under subparts A, B, D, E, and F of this part, over
I.R.C. § 53(c)(2) —
the tentative minimum tax for the taxable
year.
I.R.C. § 53(d) Definitions —
For purposes of this section—
I.R.C. § 53(d)(1) Net Minimum Tax
I.R.C. § 53(d)(1)(B) Credit Not Allowed For Exclusion Preferences
I.R.C. § 53(d)(1)(B)(i) Adjusted Net Minimum Tax —
The adjusted net minimum tax for any taxable year is—
I.R.C. § 53(d)(1)(B)(i)(I) —
the amount of the net minimum tax for
such taxable year, reduced by
I.R.C. § 53(d)(1)(B)(i)(II) —
the amount which would be the net minimum
tax for such taxable year if the only adjustments and items of tax
preference taken into account were those specified in clause (ii).
I.R.C. § 53(d)(1)(B)(ii) Specified Items —
The following are specified in this clause—
I.R.C. § 53(d)(1)(B)(ii)(I) —
the adjustments provided for in subsection (b)(1) of section 56, and
I.R.C. § 53(d)(1)(B)(ii)(II) —
the items of tax preference described
in paragraphs (1), (5), and (7) of section 57(a).
I.R.C. § 53(d)(1)(B)(iii) Credit Allowable For Exclusion Preferences Of Corporations In
The Case Of A Corporation
I.R.C. § 53(d)(1)(B)(iii)(I) —
the preceding provisions of this subparagraph
shall not apply, and
I.R.C. § 53(d)(1)(B)(iii)(II) —
the adjusted net minimum tax for any
taxable year is the amount of the net minimum tax for such year.
Editor's Note: Sec. 53(d)(2), below, before amendment by Pub. L. 117-169, Sec. 10101(e)(2)(A), is
effective for taxable years beginning before January 1, 2023.
I.R.C. § 53(d)(2) Tentative Minimum Tax —
The term “tentative minimum tax” has the
meaning given to such term by section 55(b),
except that in the case of a corporation, the tentative minimum tax
shall be treated as zero.
Editor's Note: Sec. 53(d)(2), below, after amendment by Pub. L. 117-169, Sec. 10101(e)(2)(A), is
effective for taxable years beginning after December 31, 2022.
I.R.C. § 53(d)(2) Tentative Minimum Tax —
The term “tentative minimum tax” has the
meaning given to such term by section 55(b).
Editor's Note: Sec. 53(d)(3), below, before being struck by Pub. L. 117-169, Sec. 10101(e)(1) is effective
for taxable years beginning before January 1, 2023..
I.R.C. § 53(d)(3) AMT Term References —
In the case of a corporation, any references in this
subsection to section 55, 56, or 57 shall be treated as a reference
to such section as in effect before the amendments made by Tax Cuts
and Jobs Act.
Editor's Note: Sec. 53(e), below, before amendment by Pub. L. 117-169, Sec. 10101(e)(1), is effective
for taxable years beginning before January 1, 2023.
I.R.C. § 53(e) Portion Of Credit Treated As Refundable
I.R.C. § 53(e)(1) In General —
In the case of any taxable year of a corporation beginning
in 2018 or 2019, the limitation under subsection (c) shall be increased
by the AMT refundable credit amount for such year.
I.R.C. § 53(e)(2) AMT Refundable Credit Amount —
For purposes of paragraph (1), the AMT refundable credit
amount is an amount equal to 50 percent (100 percent in the case of
a taxable year beginning in 2019) of the excess (if any) of—
I.R.C. § 53(e)(2)(A) —
the minimum tax credit determined under
subsection (b) for the taxable year, over
I.R.C. § 53(e)(2)(B) —
the minimum tax credit allowed under
subsection (a) for such year (before the application of this subsection
for such year).
I.R.C. § 53(e)(3) Credit Refundable —
For purposes of this title (other than this section),
the credit allowed by reason of this subsection shall be treated as
a credit allowed under subpart C (and not this subpart).
I.R.C. § 53(e)(4) Short Taxable Years —
In the case of any taxable year of less than 365 days,
the AMT refundable credit amount determined under paragraph (2) with
respect to such taxable year shall be the amount which bears the same
ratio to such amount determined without regard to this paragraph as
the number of days in such taxable year bears to 365.
I.R.C. § 53(e)(5) Special Rule —
In the case of a corporation making an election under
this paragraph—
I.R.C. § 53(e)(5)(A) —
paragraph (1) shall not apply, and
I.R.C. § 53(e)(5)(B) —
subsection (c) shall not apply to the
first taxable year of such corporation beginning in 2018.
Editor's Note: Sec. 53(e), below, after amendment by Pub. L. 117-169, Sec. 10101(e)(1), is effective
for taxable years beginning after December 31, 2022.
I.R.C. § 53(e) Application To Applicable Corporations —
In the case of a corporation—
I.R.C. § 53(e)(1) —
subsection (b)(1) shall be applied by
substituting “the net minimum tax for all prior taxable years
beginning after 2022” for “the adjusted net minimum tax
imposed for all prior taxable years beginning after 1986”, and
I.R.C. § 53(e)(2) —
the amount determined under subsection
(c)(1) shall be increased by the amount of tax imposed under section 59A for the taxable year.
(Added by Pub. L. 99-514, title VII, Sec. 701(b),
Oct. 22, 1986, 100 Stat. 2339, and amended Pub. L. 100-647, title I, Sec. 1007(g)(4),
title VI, Sec. 6304(a), Nov. 10, 1988, 102 Stat. 3435, 3756; Pub. L. 101-239, title VII, Sec.
7612(a)(1), (2), (b)(1), 7811(d)(2), Dec. 19, 1989, 103 Stat. 2373,
2374, 2408; Pub. L. 102-486,
title XIX, Sec. 1913(b)(2)(C), Oct. 24, 1992, 106 Stat. 2776; Pub. L. 103-66, title XIII, Sec.
13113(b)(2), 13171(c), Aug. 10, 1993, 107 Stat. 312; Pub. L. 104-188, title I, Aug. 20,
1996, 110 Stat. 1755; Pub. L. 108-357,
title IV, Sec. 421(a)(2), Oct. 22, 2004, 118 Stat. 1418; Pub. L. 109-58, title XIII, Sec.
1322(a)(3)(G), Aug. 8, 2005, 119 Stat. 594; Pub. L. 109-432, div. A, title IV,
Sec. 402(a), Dec. 20, 2006, 120 Stat. 2922; Pub. L. 110-172, Sec. 2(a),
Dec. 29, 2007; Pub. L. 110-343,
Div. C, title I, Sec. 103, Oct. 3, 2008, 122 Stat. 3765; Pub. L. 111-5, div. B, title I, Sec.
1142(b)(4), Feb. 17, 2009, 123 Stat. 115; Pub. L. 113-295, Div. A, title II,
Sec. 221(a)(8)(A)(i), Dec. 19, 2014, 128 Stat. 4010; Pub. L. 115-97, title I, Sec. 12001(b)(2),
12002(a), (b), Dec. 22, 2017, 131 Stat. 2054; Pub.
L. 116-136, Div. A, title II, Sec. 2305, Mar. 27, 2020; Pub. L. 117-169, title I, Sec. 10101(e)(1),
(2)(A)–(B), Aug. 16, 2022, 136 Stat. 1818.)
BACKGROUND NOTES
AMENDMENTS
2022 — Subsec. (d)(2). Pub. L. 117-169, Sec. 10101(e)(2)(A) amended
par. (2) by striking “, except that in the case of a corporation,
the tentative minimum tax shall be treated as zero” and all
that follows through “treated as zero”.
Subsec. (d)(3). Pub.
L. 117-169, Sec. 10101(e)(2)(B), struck par. (3). Prior
to being struck, it read as follows:
“(3) AMT TERM REFERENCES.—In the case
of a corporation, any references in this subsection to section 55,
56, or 57 shall be treated as a reference to such section as in effect
before the amendments made by Tax Cuts and Jobs Act.”
Subsec. (e). Pub. L.
117-169, Sec. 10101(e)(1), amended sec. (e). Prior to being
amended, it read as follows:
“(e) PORTION OF CREDIT TREATED AS REFUNDABLE.—
“(1) IN GENERAL.—In the case of any
taxable year of a corporation beginning in 2018 or 2019, the limitation
under subsection (c) shall be increased by the AMT refundable credit
amount for such year.
“(2) AMT REFUNDABLE CREDIT AMOUNT.—For
purposes of paragraph (1), the AMT refundable credit amount is an
amount equal to 50 percent (100 percent in the case of a taxable year
beginning in 2019) of the excess (if any) of—
“(A) the minimum tax credit determined under
subsection (b) for the taxable year, over
“(B) the minimum tax credit allowed under
subsection (a) for such year (before the application of this subsection
for such year).
“(3) CREDIT REFUNDABLE.—For purposes
of this title (other than this section), the credit allowed by reason
of this subsection shall be treated as a credit allowed under subpart
C (and not this subpart).
“(4) SHORT TAXABLE YEARS.—In the case
of any taxable year of less than 365 days, the AMT refundable credit
amount determined under paragraph (2) with respect to such taxable
year shall be the amount which bears the same ratio to such amount
determined without regard to this paragraph as the number of days
in such taxable year bears to 365.
“(5) SPECIAL RULE.—In the case of a
corporation making an election under this paragraph—
“(A) paragraph (1) shall not apply, and
“(B) subsection (c) shall not apply to the
first taxable year of such corporation beginning in 2018.”
2020 — Subsec. (e)(1). Pub. L. 116-136, Sec. 2305(a)(1),
amended par. (1) by substituting “2018 or 2019” for “2018,
2019, 2020, or 2021”.
Subsec. (e)(2). Pub.
L. 116-136, Sec. 2305(a)(2), amended par. (2) by substituting “2019”
for “2021”.
Subsec. (e)(5). Pub.
L. 116-136, Sec. 2305(b)(1), amended subsec. (e) by adding
par. (5).
2017 — Subsec. (d)(2). Pub. L. 115-97, Sec. 12001(b)(2),
amended par. (2) by inserting “, except that in the case of
a corporation, the tentative minimum tax shall be treated as zero”
before the period at the end.
Subsec. (d)(3). Pub.
L. 115-97, Sec. 12002(b), amended subsec. (d) by adding
par. (3).
Subsec. (e). Pub.
L. 115-97, Sec. 12002(a), amended Sec. 53 by adding new
subsec. (e).
2014 - Subsec. (e). Pub. L. 113-295, Div. A, Sec. 221(a)(8)(A)(i),
struck subsec. (e). Before being struck, it read as follows:
“(e) SPECIAL RULE FOR INDIVIDUALS WITH LONG-TERM
UNUSED CREDITS.—
“(1) IN GENERAL.—If an individual has
a long-term unused minimum tax credit for any taxable year beginning
before January 1, 2013, the amount determined under subsection (c)
for such taxable year shall not be less than the AMT refundable credit
amount for such taxable year.
“(2) AMT REFUNDABLE CREDIT AMOUNT.—For
purposes of paragraph (1), the term “AMT refundable credit amount”
means, with respect to any taxable year, the amount (not in excess
of the long-term unused minimum tax credit for such taxable year)
equal to the greater of—
“(A) 50 percent of the long-term unused minimum
tax credit for such taxable year, or
“(B) the amount (if any) of the AMT refundable
credit amount determined under this paragraph for the taxpayer's preceding
taxable year (determined without regard to subsection (f)(2)).
“(3) LONG-TERM UNUSED MINIMUM TAX CREDIT.—
“(A) IN GENERAL.—For purposes of this
subsection, the term “long-term unused minimum tax credit”
means, with respect to any taxable year, the portion of the minimum
tax credit determined under subsection (b) attributable to the adjusted
net minimum tax for taxable years before the 3rd taxable year immediately
preceding such taxable year.
“(B) FIRST-IN, FIRST-OUT ORDERING RULE.—For
purposes of subparagraph (A), credits shall be treated as allowed
under subsection (a) on a first-in, first-out basis.
“(4) CREDIT REFUNDABLE.—For purposes
of this title (other than this section), the credit allowed by reason
of this subsection shall be treated as if it were allowed under subpart
C.”
Subsec. (f). Pub.
L. 113-295, Div. A, Sec. 221(a)(8)(A)(i), struck
subsec. (f). Before being struck, it read as follows:
“(f) TREATMENT OF CERTAIN UNDERPAYMENTS,
INTEREST, AND PENALTIES ATTRIBUTABLE TO THE TREATMENT OF INCENTIVE
STOCK OPTIONS.—
“(1) ABATEMENT.—Any underpayment of
tax outstanding on the date of the enactment of this subsection which
is attributable to the application of section 56(b)(3) for any taxable
year ending before January 1, 2008, and any interest or penalty with
respect to such underpayment which is outstanding on such date of
enactment, is hereby abated. The amount determined under subsection
(b)(1) shall not include any tax abated under the preceding sentence.
“(2) INCREASE IN CREDIT FOR CERTAIN INTEREST
AND PENALTIES ALREADY PAID.—The AMT refundable credit amount,
and the minimum tax credit determined under subsection (b), for the
taxpayer's first 2 taxable years beginning after December 31, 2007,
shall each be increased by 50 percent of the aggregate amount of the
interest and penalties which were paid by the taxpayer before the
date of the enactment of this subsection and which would (but for
such payment) have been abated under paragraph (1).”
2009 — Subsec. (d)(1)(B)(iii)–(iv). Pub. L. 111-5, Div. B, Sec. 1142(b)(4)(A),
amended subpar. (B) by striking clause (iii) and redesignating clause
(iv) as clause (iii). Before being struck, clause (iii) read as follows:
“(iii) SPECIAL RULE.— The adjusted
net minimum tax for the taxable year shall be increased by the amount
of the credit not allowed under section 30 solely by reason of the
application of section 30(b)(3)(B).”
Subsec. (d)(1)(B)(iii)(II). Pub. L. 111-5, Div. B, Sec. 1142(b)(4)(B),
amended subclause (II) by striking “increased in the manner
provided in clause (iii)”.
2008 - Subsec. (e)(2). Pub. L. 110-343, Div. C, Sec. 103(a),
amended par. (2). Before amendment it read as follows:
“(2) AMT REFUNDABLE CREDIT AMOUNT.—For
purposes of paragraph (1)—
“(A) In General.— The term “AMT
refundable credit amount” means, with respect to any taxable
year, the amount (not in excess of the long-term unused minimum tax
credit for such taxable year) equal to the greater of--(i) $5,000,
(ii) 20 percent of the long-term unused minimum tax credit for such
taxable year, or (iii) the amount (if any) of the AMT refundable credit
amount determined under this paragraph for the taxpayer's preceding
taxable year (as determined before any reduction under subparagraph
(B)).
“(B) PHASEOUT OF AMT REFUNDABLE CREDIT AMOUNT.—
“(i) IN GENERAL.—In the case of an
individual whose adjusted gross income for any taxable year exceeds
the threshold amount (within the meaning of section 151(d)(3)(C)),
the AMT refundable credit amount determined under subparagraph (A)
for such taxable year shall be reduced by the applicable percentage
(within the meaning of section 151(d)(3)(B)).”
“(ii) ADJUSTED GROSS INCOME.—For purposes
of clause (i), adjusted gross income shall be determined without regard
to sections 911, 931, and 933.
Subsec. (f). Pub.
L. 110-343, Div. C, Sec. 103(b), added subsec. (f).
2007 — Subsec. (e)(2)(A).
Pub L. 110-172, Sec. 2(a), amended subpar. (A). Before amendment,
it read as follows:
“(A) IN GENERAL.—The term “AMT
refundable credit amount” means, with respect to any taxable
year, the amount equal to the greater of—
“(i) the lesser of—
“(I) $5,000, or
“(II) the amount of long-term unused minimum
tax credit for such taxable year, or
“(ii) 20 percent of the amount of such credit.”
2006 — Subsec. (e). Pub. L. 109-432, Sec. 402(a),
added subsec. (e).
2005 — Subsec. (d)(1)(B)(iii). Pub. L. 109-58, Sec. 1322(a)(3)(G),
amended clause (iii) by striking “under section 29” and
all that follows through “or not allowed”.
2004 — Subsec. (d)(1)(B)(i)(II). Pub. L. 108-357, Sec. 421(a)(2),
amended subclause (II) by striking “and if section 59(a)(2)
did not apply” at the end.
1996 — Subsec. (d)(1)(B). Pub. L. 104-188, Sec. 1205(d)(5),
amended clause (iii) and clause (iv)(II) to read as above.
Before amendment, clause (iii) read as follows:
“(iii) SPECIAL RULE.—The
adjusted net minimum tax for the taxable year
shall be increased by the amount
of the credit not allowed under section 29 (relating to credit for
producing fuel from a nonconventional source) solely by reason of
the application of not allowed under section 28 solely by reason of
the application of section 28(d)(2)(B), or not allowed under section
30 solely by reason of the application of section 30(b)(3)(B).”
Before amendment, clause (iv)(II) read as follows:
“(II) the adjusted net
minimum tax for any taxable year is the amount of the net minimum
tax for such year increased by the amount of any credit not allowed
under section 29 solely by reason of the application of section 29(b)(5)(B)
or not allowed under section 28 solely by reason of the application
of section 28(d)(2)(B).”
Subsec. (d)(1)(B)(iv). Pub. L. 104-188, Sec. 1704(j)(1),
amended clause (iv)(II) to read as above. Before amendment, clause
(iv)(II) read as follows:
“(II) the adjusted net
minimum tax for any taxable year is the amount of the net minimum
tax for such year increased by the amount of any credit not allowed
under section 29 solely by reason of the application of section 29(b)(5)(B)
or not allowed under section 28 solely by reason of the application
of section 28(d)(2)(B).”
1993 — Subsec. (d)(1)(B)(ii)(II). Pub. L. 103-66, Section 13113(b)(2) amended
subclause (II) by striking “and (6)” and inserting “(6),
and (8)”.
Subsec. (d)(1)(B)(ii)(II). Pub. L. 103-66, Section 13171(c) amended
subclause (II) (as amended by section 13113) by striking “(5),
(6), and (8)” and inserting “(5), and (7)”.
1992 — Subsec. (d)(1)(B)(iii). Pub. L. 102-486, Section 1913(b)(2),
as amended by Pub. L. 104-188,
Sec. 1702(e)(5), amended subsection (d)(1)(B)(iii)
by striking “section 29(b)(5)(B) or” and inserting “section
29(b)(6)(B),”; and, by inserting “, or not allowed under
section 30 solely by reason of the application of section 30(b)(3)(B)”
before the period.
1989 — Subsec. (d)(1)(B)(i)(II). Pub. L. 101-239, Sec. 7811(d)(2),
inserted before period at end ‘and if section 59(a)(2) did not apply’.
Subsec. (d)(1)(B)(ii). Pub. L. 101-239, Sec. 7612(a)(2),
substituted ‘subsection (b)(1)’ for ‘subsections (b)(1) and (c)(3)’
in subcl. (I) and struck out at end ‘In the case of taxable years
beginning after 1989, the adjustments provided in section 56(g) shall
be treated as specified in this clause to the extent attributable
to items which are excluded from gross income for any taxable year
for purposes of the regular tax, or are not deductible for any taxable
year under the adjusted current earnings method of section 56(g).’
Subsec. (d)(1)(B)(iii). Pub. L. 101-239, Sec. 7612(b)(1),
which directed amendment of cl. (iii) by inserting ‘or not allowed
under section 28 solely by reason of the application of section 28(d)(2)(B)’
after ‘section 29(d)(5)(B)’, was executed by making the insertion
after ‘section 29(b)(5)(B)’, as the probable intent of Congress.
Subsec. (d)(1)(B)(iv). Pub. L. 101-239, Sec. 7612(b)(1),
which directed amendment of cl. (iv) by inserting ‘or not allowed
under section 28 solely by reason of the application of section 28(d)(2)(B)’
after ‘section 29(d)(5)(B)’, was executed by making the insertion
after ‘section 29(b)(5)(B)’ in subcl. (II), as the probable intent
of Congress.
Pub.
L. 101-239, Sec. 7612(a)(1), added cl. (iv).
1988 — Subsec. (d)(1)(B)(ii). Pub. L. 100-647, Sec. 1007(g)(4),
substituted ‘current earnings’ for ‘earnings and profits’ in last
sentence.
Subsec. (d)(1)(B)(iii). Pub. L. 100-647, Sec. 6304(a),
added cl. (iii).
EFFECTIVE DATE OF 2022 AMENDMENTS
Amendments made by Pub. L. 117-169, Sec. 10101(e),
effective for taxable years beginning after December 31, 2022.
EFFECTIVE DATE OF 2020 AMENDMENTS
Amendments by Pub.
L. 116-136, Sec. 2305, effective for taxable years beginning
after December 31, 2017. Pub. L.
116-136, Sec. 2305(d), provided the following special rule:
“(d) SPECIAL RULE.—
“(1) IN GENERAL.—For purposes of the
Internal Revenue Code of 1986, a credit or refund for which an application
described in paragraph (2)(A) is filed shall be treated as made under
section 6411 of such Code.
“(2) TENTATIVE REFUND.—
“(A) APPLICATION.—A taxpayer may file
an application for a tentative refund of any amount for which a refund
is due by reason of an election under section
53(e)(5) of the Internal Revenue Code of 1986. Such application
shall be in such manner and form as the Secretary of the Treasury
(or the Secretary's delegate) may prescribe and shall—
“(i) be verified in the same manner as an
application under section 6411(a) of such Code,
“(ii) be filed prior to December 31, 2020,
and
“(iii) set forth—
“(I) the amount of the refundable credit
claimed under section 53(e) of such Code for such taxable year,
“(II) the amount of the refundable credit
claimed under such section for any previously filed return for such
taxable year, and
“(III) the amount of the refund claimed.
“(B) ALLOWANCE OF ADJUSTMENTS.—Within
a period of 90 days from the date on which an application is filed
under subparagraph (A), the Secretary of the Treasury (or the Secretary's
delegate) shall—
“(i) review the application,
“(ii) determine the amount of the overpayment,
and
“(iii) apply, credit, or refund such overpayment,
in a manner similar to the manner provided in section 6411(b) of the Internal Revenue Code of
1986.
“(C) CONSOLIDATED RETURNS.—The provisions
of section 6411(c) of the Internal
Revenue Code of 1986 Code shall apply to an adjustment
under this paragraph to the same extent and manner as the Secretary
of the Treasury (or the Secretary's delegate) may provide.”
EFFECTIVE DATE OF 2017 AMENDMENTS
Amendment by Pub.
L. 115-97, Sec. 12001(b)(2), effective for taxable years
beginning after December 31, 2017.
Amendment by Pub.
L. 115-97, Sec. 12002(a), (b), effective for taxable years
beginning after December 31, 2017.
EFFECTIVE DATE OF 2014 AMENDMENTS
Amendments by Pub.
L. 113-295, Div. A, Sec. 221(a)(8)(A)(i), effective
on the date of the enactment of this Act [Enacted: Dec. 19, 2014].
Section 221(b)(2) of Pub.
L. 113-295, Div. A, provided the following Savings
Provision:
“(2) SAVINGS PROVISION.—If—
“(A) any provision amended or repealed by
the amendments made by this section applied to—
“(i) any transaction occurring before the
date of the enactment of this Act [Enacted: Dec. 19, 2014],
“(ii) any property acquired before such date
of enactment, or
“(iii) any item of income, loss, deduction,
or credit taken into account before such date of enactment, and
“(B) the treatment of such transaction, property,
or item under such provision would (without regard to the amendments
or repeals made by this section) affect the liability for tax for
periods ending after date of enactment, nothing in the amendments
or repeals made by this section shall be construed to affect the treatment
of such transaction, property, or item for purposes of determining
liability for tax for periods ending after such date of enactment.”
EFFECTIVE DATE OF 2009 AMENDMENTS
Amendments by Div. B, Sec. 1142(b)(4), of Pub. L. 111-5 effective for vehicles
acquired after the date of the enactment of this Act [Enacted: Feb.
17, 2009].
EFFECTIVE DATE OF 2008 AMENDMENTS
Amendment by Div. C, Sec. 103, of Pub. L. 110-343 effective as taxable
years beginning after December 31, 2007, except for Sec. 53(f)(1),
added by Act. Sec. 103(b), which is effective on the date of the enactment
of this Act [Enacted: Oct. 3, 2008].
EFFECTIVE DATE OF 2007 AMENDMENT
Amendment by Sec. 2(a) of Pub. L. 110-172 effective as if
included in the provision of the Tax Relief and Health Care Act of
2006 [Pub. L. 109-432,
Div. A, Sec. 402] to which it relates.
EFFECTIVE DATE OF 2006 AMENDMENT
Amendment by Sec. 402(a) of Pub. L. 109-432 effective for taxable
years beginning after the date of the enactment of this Act [Enacted:
Dec. 20, 2006].
EFFECTIVE DATE OF 2005 AMENDMENT
Amendment by Sec. 1322(a)(3)(G) of Pub. L. 109-58 effective for credits
determined under the Internal Revenue Code of 1986 for taxable years
ending after December 31, 2005.
EFFECTIVE DATE OF 2004 AMENDMENT
Amendment by Sec. 421(a)(2) of Pub. L. 108-357, effective for taxable
years beginning after December 31, 2004.
EFFECTIVE DATE OF 1996 AMENDMENT
Sec. 1205(e) of Pub.
L. 104-188 provided that: “The amendments made
by this section shall apply to amounts paid or incurred in taxable
years ending after June 30, 1996.”
EFFECTIVE DATE OF 1993 AMENDMENT
Amendment by Section 13113(b)(2) of Pub. L. 103-66 effective after the
date of the enactment of this Act [enacted: August 10, 1993].
Amendments by Section 13171 of Pub. L. 103-66 shall apply to contributions
made after June 30, 1992, except that in the case of any contribution
of capital gain property which is not tangible personal property,
such amendments shall apply only if the contribution is made after
December 31, 1992.
EFFECTIVE DATE OF 1992 AMENDMENT
Amendment by Sec. 1913(b)(2)(C)(i) of Pub. L. 102-486, as amended by Pub. L. 104-188, Sec. 1702(e)(5),
effective for taxable years beginning after December 31, 1990.
Amendment by Sec. 1913(b)(2)(C)(ii) of Pub. L. 102-486 effective for property
placed in service after June 30, 1993.
EFFECTIVE DATE OF 1989 AMENDMENT
Section 7612(a)(3) of Pub.
L. 101-239 provided that: ‘The amendments made by
this subsection (amending this section) shall apply for purposes of
determining the adjusted net minimum tax for taxable years beginning
after December 31, 1989.’
Section 7612(b)(2) of Pub.
L. 101-239 provided that: ‘The amendment made by
paragraph (1) (amending this section) shall apply for purposes of
determining the amount of the minimum tax credit for taxable years
beginning after December 31, 1989; except that, for such purposes, section 53(b)(1) of the Internal Revenue Code of
1986 shall be applied as if such amendment had been in effect for
all prior taxable years.'
Amendment by section 7811(d)(2) of Pub. L. 101-239 effective, except
as otherwise provided, as if included in the provision of the Technical
and Miscellaneous Revenue Act of 1988, Pub.
L. 100-647, to which such amendment relates, see
section 7817 of Pub. L. 101-239,
set out as a note under section 1 of this title.
EFFECTIVE DATE OF 1988 AMENDMENT
Amendment by section 1007(g)(4) of Pub. L. 100-647 effective, except
as otherwise provided, as if included in the provision of the Tax
Reform Act of 1986, Pub. L. 99-514,
to which such amendment relates, see section 1019(a) of Pub. L. 100-647, set out as a note
under section 1 of this title.
Section 6304(b) of Pub.
L. 100-647 provided that: ‘The amendment made by
this section (amending this section) shall take effect as if included
in the amendments made by section 701 of the Tax Reform Act of 1986
(Pub. L. 99-514).'
EFFECTIVE DATE
Section applicable to taxable years beginning after
Dec. 31, 1986, with certain exceptions and qualifications, see section
701(f) of Pub. L. 99-514,
set out as an Effective Date of 1986 Amendment note under section
55 of this title.
APPLICABILITY OF CERTAIN AMENDMENTS BY PUB. L. 99-514 IN RELATION TO TREATY
OBLIGATIONS OF UNITED STATES
For applicability of amendment by section 701(b)
of Pub. L. 99-514 (enacting
this section) notwithstanding any treaty obligation of the United
States in effect on Oct. 22, 1986, with provision that for such purposes
any amendment by title I of Pub. L.
100-647 be treated as if it had been included in
the provision of Pub. L. 99-514 to
which such amendment relates, see section 1012(aa)(2), (4) of Pub. L. 100-647, set out as a note
under section 861 of this title.
PRIOR PROVISIONS
A prior section 53, added Pub. L. 95-30, title II, Sec. 202(b),
May 23, 1977, 91 Stat. 146, and amended Pub.
L. 95-600, title III, Sec. 321(c)(2), Nov. 6, 1978,
92 Stat. 2835; Pub. L. 97-34,
title II, Sec. 207(c)(2), Aug. 13, 1981, 95 Stat. 225; Pub. L. 97-248, title II, Sec. 201(d)(8)(A),
formerly Sec. 201(c)(8)(A), and Sec. 265(b)(2)(A)(iii), Sept. 3, 1982,
96 Stat. 420, 547, redesignated Pub.
L. 97-448, title III, Sec. 306(a)(1)(A)(i), Jan.
12, 1983, 96 Stat. 2400; 97-354, Sec. 5(a)(12), Oct. 19, 1982, 96
Stat. 1693; 97-448, title I, Sec. 102(d)(3), Jan. 12, 1983, 96 Stat.
2370; Pub. L. 98-21,
title I, Sec. 122(c)(1), Apr. 20, 1983, 97 Stat. 87; Pub. L. 98-369, div. A, title VII,
Sec. 713(c)(1)(C), July 18, 1984, 98 Stat. 957, which placed limitations
on the amount of credit allowed by former section 44B for employment
of certain new employees, was repealed by Pub.
L. 98-369, div. A, title IV, Sec. 474(p)(8), July
18, 1984, 98 Stat. 838, applicable to taxable years beginning after
Dec. 31, 1983, and to carrybacks from such years.
CODIFICATION
Part V, consisting of a prior section 51, was repealed
by Pub. L. 94-455,
title XIX, 1901(a)(7), Oct. 4, 1976, 90 Stat. 1765. See Prior Provisions
note set out under section 51 of this title.
