Credit carryover; carryback or refund unavailable
Sec. 4. If the amount of the credit determined under section 3 of
this chapter for a taxable year exceeds the taxpayer's state tax
liability for that taxable year, the taxpayer may carry the excess over
to the immediately following taxable years. The amount of the credit
carryover from a taxable year shall be reduced to the extent that the
carryover is used by the taxpayer to obtain a credit under this chapter
for any subsequent taxable year. A taxpayer is not entitled to a
carryback or refund of any unused credit.
As added by P.L.125-1998, SEC.3.
Last modified: May 28, 2006