D.C. Mun. Regs. tit. 9, r. 9-166

Current through Register Vol. 71, No. 43, October 25, 2024

Rule 9-166 - COMBINED REPORTING: TAX CREDITS

166.1

Current year tax credits. A tax credit generated by a member of a combined group is an attribute of the member rather than of the combined group, and credits are to be computed for each taxpayer separately. Therefore, a tax credit earned by a member of the combined group that is not fully used by or allowed to that member shall not be used in either whole or in part by any other member of the combined group or applied in whole or in part against the total income of the combined group.

166.2

Tax credit carryforward. A tax credit carryforward of a member of a combined group that was derived from a credit generated by the member either during a year in which the member was subject to combined reporting, or a prior year when the member was not subject to combined reporting, shall not be used in either whole or in part by any other member of the combined group or applied in whole or in part against the total income of the combined group.

D.C. Mun. Regs. tit. 9, r. 9-166

Final Rulemaking published at 59 DCR 10875, 10891 (September 14, 2012)

Authority: The Deputy Chief Financial Officer of the District of Columbia Office of Tax and Revenue (OTR) of the Office of the Chief Financial Officer, pursuant to the authority set forth in D.C. Official Code § 47-1335 (2005 Repl.), section 201(a) of the 2005 District of Columbia Omnibus Authorization Act, approved October 16, 2006 (120 Stat. 2019; P.L. 109-356, D.C. Official Code § 1-204.24 d (2012 Supp.)) of the Home Rule Act, and the Office of the Chief Financial Officer Financial Management and Control Order No. 00-5, effective June 7, 2000.