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§ 17053.37-11. Miscellaneous Provisions.

18 CA ADC § 17053.37-11Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 3. Franchise Tax Board
Chapter 2.5. Personal Income Tax (Taxable Years Beginning After 12-31-54) (Refs & Annos)
Subchapter 2. Imposition of Tax
Article 1. Joint Strike Fighter Wage Credit
18 CCR § 17053.37-11
§ 17053.37-11. Miscellaneous Provisions.
Miscellaneous Provisions -- (See Regulation 17053.37-0 for Table of Contents.)
(a) Effective Dates of the JSF Property Credit. The JSF Property Credit shall cease to be effective on December 1, 2006; however, any unused credit may be carried forward, as provided in Revenue and Taxation Code section 17053.37, subsection (g), and Regulation 17053.37-9.
(b) Manufacturers' Investment Credit (MIC). Under Revenue and Taxation Code section 17053.37, in any case where a credit would be allowed for qualified property under both that provision and the Manufacturers' Investment Credit (MIC) provided in Revenue and Taxation Code section 17053.49, a qualified taxpayer may claim either the MIC credit or the JSF Property Credit. Thus, a qualified taxpayer may not claim both the JSF Property Credit and the MIC for the costs of the same qualified property.
(c) Enterprise Zone Sales or Use Tax Credit. Under Revenue and Taxation Code sections 17053.37 and 17053.70, a qualified taxpayer that also operates in an Enterprise Zone may claim both the JSF Property Credit and the Enterprise Zone sales or use tax credit on the same item of qualified property to the extent that all of the requirements of each of those sections are satisfied.

Credits

Note: Authority cited: Section 19503, Revenue and Taxation Code. Reference: Section 17053.37, Revenue and Taxation Code.
History
1. New section filed 1-23-2003; operative 2-22-2003 (Register 2003, No. 4).
This database is current through 7/5/24 Register 2024, No. 27.
Cal. Admin. Code tit. 18, § 17053.37-11, 18 CA ADC § 17053.37-11
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