P.R. Laws tit. 13, § 30202
(a) Allowance of credit. — There shall be allowed as a credit against the tax imposed by this part an amount equal to the minimum tax credit.
(b) Minimum tax credit. — For purposes of subsection (a), the minimum tax credit for any taxable year is the excess, if any, of:
(1) The net minimum tax imposed for all prior taxable years, over
(2) the amount allowable as a credit under subsection (a) for such prior taxable years.
(c) Limitation. — The credit allowable under subsection (a) for any taxable year shall not exceed the excess, if any, of:
(1) The regular tax liability of the taxpayer for the taxable year reduced by the credit for foreign taxes paid provided in § 30201 of this title, over
(2) the tentative minimum tax for the taxable year.
(d) Definitions. — For purposes of this section:
(1) Net minimum tax. — The term “net minimum tax” means the tax imposed by § 30073 of this title.
(2) Tentative minimum tax. — The term “tentative minimum tax” has the meaning given to such term by § 30073(b) of this title.
History —Jan. 31, 2011, No. 1, § 1051.02, retroactive to Jan. 1, 2011.