Charles C. Allen, III and Barbara N. Allen, et al. - Page 10




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          United States v. Am. Trucking Associations, Inc., 310 U.S. 534,               
          543-544 (1940); Venture Funding, Ltd. v. Commissioner, 110 T.C.               
          236, 241-242 (1998), affd. without published opinion 198 F.3d 248             
          (6th Cir. 1999); Trans City Life Ins. Co. v. Commissioner,                    
          106 T.C. 274, 299 (1996).  We apply the plain meaning of the                  
          words prescribed in the text unless we find that a word’s plain               
          meaning is “inescapably ambiguous”.  Venture Funding, Ltd. v.                 
          Commissioner, supra at 241-242; see Garcia v. United States,                  
          469 U.S. 70, 76 n.3 (1984); see also Ex parte Collett, 337 U.S.               
          55 (1949).  Where legislative “will has been expressed in                     
          reasonably plain terms, that language must ordinarily be regarded             
          as conclusive.”  Negonsott v. Samuels, 507 U.S. 99, 104 (1993).               
               We look first to the text on the TJC.  Section 38 allows                 
          each petitioner to credit against his tax the amount of a general             
          business credit.  In relevant part, section 38 provides:                      
               SEC. 38.  GENERAL BUSINESS CREDIT.                                       
                    (a) Allowance of Credit.-–There shall be allowed                    
               as a credit against the tax imposed by this chapter for                  
               the taxable year an amount equal to the sum of–-                         
                         (1) the business credit carryforwards                          
                    carried to such taxable year,                                       
                         (2) the amount of the current year                             
                    business credit, plus                                               
                         (3) the business credit carrybacks                             
                    carried to such taxable year.                                       
                    (b) Current Year Business Credit.–-For purposes of                  
               this subpart, the amount of the current year business                    






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