Credit year definition

Credit year means the taxable year for which the member is com- puting the credit.

Credit year means the tax year in which costs are incurred.

Credit year means the year for which the credit is being claimed.

Examples of Credit year in a sentence

• If the first year of the credit period for a project begins with the taxable year when a building is placed- in-service, the owner must pay the annual compliance monitoring fee for the first Credit year for the entire project by the deadline in the RAC, and in any event no later than the first Monday in November of the year that the first building is placed-in-service.

• The Owner is required to provide to OHFA, for the first Credit year, a copy of the completed Part II 8609, 8609 Schedule A and Form 8586 that is submitted to the Internal Revenue Service.

• The subsequent failure of CDOs to shield investors from unexpected losses and later jump in CDS costs led to a collapse in the funding and availability of nonprime mortgages.

• MBOH may approve conversion of previously awarded Credits from the original Credit year of the Credits Awarded to a more recent Credit year (“Credit Refresh”) for Projects that have been issued a Carryover Allocation (Initial Allocation) and for which MBOH has approved such 10% Cost Certification.

• The maximum Credit Award for a Project will be determined based upon the state’s Available Annual Credit Allocation for the Housing Credit year from which the Project is first Awarded HCs. If the state’s Available Annual Credit Allocation is not known as of 20 business days prior to the applicable application deadline, the Available Annual Credit Allocation from the previous year will be used, subject to later adjustment once the state’s actual Available Annual Credit Allocation is known.

More Definitions of Credit year

Credit year means the taxable year for which the member is computing the credit.

Credit year means the first taxable year following the taxable year in which the international trade

Credit year means the taxable year in which a qualified business entity claims the tax credit authorized under this subtitle.

Credit year means the taxable year in which the person

Credit year means the taxable year for which the member is computing the RTMC.(3) Computation of the group credit. All members of a controlled group are treated as a single taxpayer for pur- poses of computing the RTMC. The group credit is computed by applying all of the section 45G computational rules (including the rules set forth in this section) on an aggregate basis.(4) [Reserved]. For further guidance, see § 1.45G–1T(f)(4).(5) [Reserved]. For further guidance, see § 1.45G–1T(f)(5).(6) Tax accounting periods used—(i) In general. The credit allowable to a mem- ber of a controlled group is that mem- ber’s share of the group credit com- puted as of the end of that member’s taxable year. In computing the group credit for a group whose members have different taxable years, a member gen- erally should treat the taxable year of another member that ends with or within the credit year of the com- puting member as the credit year of that other member. For example, Q, R, and S are members of a controlled group of corporations. Both Q and R are calendar year taxpayers. S files a return using a fiscal year ending June30. For purposes of computing the group credit at the end of Q’s and R’s taxable year on December 31, S’s fiscal year ending June 30, which ends within Q’s and R’s taxable year, is treated as S’s credit year.(ii) Special rule when timing of QRTME is manipulated. If the timing of QRTME by members using different tax ac- counting periods is manipulated to generate a credit in excess of the amount that would be allowable if all members of the group used the same tax accounting period, then the appro- priate Internal Revenue Service offi- cial in the operating division that has examination jurisdiction of the return may require each member of the group to calculate the credit in the current taxable year and all future years as if all members of the group had the same taxable year and base period as the computing member.

Credit year means the calendar year allocated to a tax credit.

Credit year means the taxable year for which a qualified Health Enterprise Zone practitioner claims a Health Enterprise Zone tax credit.