§ 17053.36-7. JSF Wage Credit Carryforwards.
JSF Wage Credit Carryforwards -- (See Regulation 17053.36-0 for Table of Contents.)
(a)In General. In any case where the JSF Wage Credit…#
(a) In General. In any case where the JSF Wage Credit exceeds the “tax,” the excess may be carried forward to reduce the “tax” for the eight taxable years succeeding the taxable year for which the JSF Wage Credit is allowed, if necessary, until the credit is exhausted.
(b)Carryforwards for Pass-Through Entities. In the case of…#
(b) Carryforwards for Pass-Through Entities. In the case of any JSF Wage Credit allowed to a pass-through entity, the determination of the applicable carryover period for any JSF Wage Credit required to be carried forward shall be made at the pass-through entity level.