§ 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…#
(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…#
(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.