Sec. 14.26.06.10. Unused Credit

Latest version.

If the credit allowed under this chapter in any taxable year exceeds the State income tax otherwise payable by the individual or corporation for that taxable year, any unused credit may be carried forward and applied for succeeding taxable years until the earlier of:

A. When the full amount of the credit is used; or

B. The expiration of the tenth taxable year after the taxable year in which the credit arose.

                    
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