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Limitations and refundability

7 rules0 of 3 subsections

(1) In general

(1)In general#

(A) Wages taken into account The amount of qualified wages with respect to any employee which may be taken into account under subsection (a) by the eligible employer for any calendar quarter shall not exceed $10,000.

(B) Recovery startup businesses In the case of an eligible employer which is a recovery startup business (as defined in subsection (c)(5)), the amount of the credit allowed under subsection (a) (after application of subparagraph (A)) for any calendar quarter shall not exceed $50,000.

(2)Credit limited to employment taxes#

The credit allowed by subsection (a) with respect to any calendar quarter shall not exceed the applicable employment taxes (reduced by any credits allowed under sections 3131 and 3132) on the wages paid with respect to the employment of all the employees of the eligible employer for such calendar quarter.

(3)Refundability of excess credit#

If the amount of the credit under subsection (a) exceeds the limitation of paragraph (2) for any calendar quarter, such excess shall be treated as an overpayment that shall be refunded under sections 6402(a) and 6413(b).

in view

Whole section

Encodings · 7

qualified_wages_employee_calendar_quarter_cap26 USC § 3134 (b) · parameter

26 USC 3134(b)(1)(A)

name: qualified_wages_employee_calendar_quarter_cap
kind: parameter
dtype: Money
unit: USD
source: 26 USC 3134(b)(1)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: shall not exceed $10,000
versions:
  - effective_from: '2021-01-01'
    formula: '10000'

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qualified_wages_taken_into_account_for_employee_for_calendar_quarter26 USC § 3134 (b) · derived

26 USC 3134(b)(1)(A)

name: qualified_wages_taken_into_account_for_employee_for_calendar_quarter
kind: derived
entity: Person
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(1)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            The amount of qualified wages with respect to any employee which may
            be taken into account
      - path: versions[0].formula
        kind: import
        import:
          target: us:statutes/26/3134/b#qualified_wages_employee_calendar_quarter_cap
          output: qualified_wages_employee_calendar_quarter_cap
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: |-
      min(
          max(0, qualified_wages_with_respect_to_employee_for_calendar_quarter),
          qualified_wages_employee_calendar_quarter_cap
      )

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recovery_startup_business_credit_calendar_quarter_cap26 USC § 3134 (b) · parameter

26 USC 3134(b)(1)(B)

name: recovery_startup_business_credit_calendar_quarter_cap
kind: parameter
dtype: Money
unit: USD
source: 26 USC 3134(b)(1)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: shall not exceed $50,000
versions:
  - effective_from: '2021-01-01'
    formula: '50000'

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employee_retention_credit_after_recovery_startup_business_cap26 USC § 3134 (b) · derived

26 USC 3134(b)(1)(B)

name: employee_retention_credit_after_recovery_startup_business_cap
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(1)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: eligible employer which is a recovery startup business
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            the amount of the credit allowed under subsection (a) (after
            application of subparagraph (A))
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#recovery_startup_business_credit_calendar_quarter_cap
          output: recovery_startup_business_credit_calendar_quarter_cap
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: >-
      if employer_is_recovery_startup_business: min(
          max(0, employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter),
          recovery_startup_business_credit_calendar_quarter_cap
      ) else: max(0,
      employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter)

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employment_tax_limitation_for_employee_retention_credit26 USC § 3134 (b) · derived

26 USC 3134(b)(2)

name: employment_tax_limitation_for_employee_retention_credit
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            applicable employment taxes (reduced by any credits allowed under
            sections 3131 and 3132)
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3131/a#qualified_sick_leave_wages_credit_against_applicable_employment_taxes
          output: >-
            qualified_sick_leave_wages_credit_against_applicable_employment_taxes
          hash: >-
            sha256:eb18d4a79c2902f4018ec4acfa89e326b6b86646355ace8ae4a89ab37c4f8aa9
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3132/a#qualified_family_leave_wages_credit_against_applicable_employment_taxes
          output: >-
            qualified_family_leave_wages_credit_against_applicable_employment_taxes
          hash: >-
            sha256:f249f97f60dad580a6e353f961a820960551254b821e267853fba2af34a1dfc2
versions:
  - effective_from: '2021-01-01'
    formula: |-
      max(
          0,
          applicable_employment_taxes_on_wages_paid_to_all_employees_for_calendar_quarter
          - qualified_sick_leave_wages_credit_against_applicable_employment_taxes
          - qualified_family_leave_wages_credit_against_applicable_employment_taxes
      )

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employee_retention_credit_after_employment_tax_limitation26 USC § 3134 (b) · derived

26 USC 3134(b)(2)

name: employee_retention_credit_after_employment_tax_limitation
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            The credit allowed by subsection (a) with respect to any calendar
            quarter shall not exceed the applicable employment taxes
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
          output: employee_retention_credit_after_recovery_startup_business_cap
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
          output: employment_tax_limitation_for_employee_retention_credit
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: |-
      min(
          employee_retention_credit_after_recovery_startup_business_cap,
          employment_tax_limitation_for_employee_retention_credit
      )

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employee_retention_credit_refundable_excess26 USC § 3134 (b) · derived

26 USC 3134(b)(3)

name: employee_retention_credit_refundable_excess
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(3)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            If the amount of the credit under subsection (a) exceeds the
            limitation of paragraph (2)
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: such excess shall be treated as an overpayment
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
          output: employee_retention_credit_after_recovery_startup_business_cap
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
          output: employment_tax_limitation_for_employee_retention_credit
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: |-
      max(
          0,
          employee_retention_credit_after_recovery_startup_business_cap
          - employment_tax_limitation_for_employee_retention_credit
      )

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▸rulespec code

Shown source

statutes/26/3134/b.yaml

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Rules

qualified_wages_employee_calendar_quarter_cap

Parameter

source: 26 USC 3134(b)(1)(A)

- name: qualified_wages_employee_calendar_quarter_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 3134(b)(1)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: shall not exceed $10,000
  versions:
    - effective_from: '2021-01-01'
      formula: '10000'

qualified_wages_taken_into_account_for_employee_for_calendar_quarter

Derived

source: 26 USC 3134(b)(1)(A)

- name: qualified_wages_taken_into_account_for_employee_for_calendar_quarter
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(1)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              The amount of qualified wages with respect to any employee which may be taken into
              account
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#qualified_wages_employee_calendar_quarter_cap
            output: qualified_wages_employee_calendar_quarter_cap
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        min(
            max(0, qualified_wages_with_respect_to_employee_for_calendar_quarter),
            qualified_wages_employee_calendar_quarter_cap
        )

recovery_startup_business_credit_calendar_quarter_cap

Parameter

source: 26 USC 3134(b)(1)(B)

- name: recovery_startup_business_credit_calendar_quarter_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 3134(b)(1)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: shall not exceed $50,000
  versions:
    - effective_from: '2021-01-01'
      formula: '50000'

employee_retention_credit_after_recovery_startup_business_cap

Derived

source: 26 USC 3134(b)(1)(B)

- name: employee_retention_credit_after_recovery_startup_business_cap
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(1)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: eligible employer which is a recovery startup business
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              the amount of the credit allowed under subsection (a) (after application of
              subparagraph (A))
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#recovery_startup_business_credit_calendar_quarter_cap
            output: recovery_startup_business_credit_calendar_quarter_cap
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: >-
        if employer_is_recovery_startup_business: min(
            max(0, employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter),
            recovery_startup_business_credit_calendar_quarter_cap
        ) else: max(0,
        employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter)

employment_tax_limitation_for_employee_retention_credit

Derived

source: 26 USC 3134(b)(2)

- name: employment_tax_limitation_for_employee_retention_credit
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              applicable employment taxes (reduced by any credits allowed under sections 3131 and
              3132)
        - path: versions[0].formula
          kind: import
          import:
            target: >-
              us:statutes/26/3131/a#qualified_sick_leave_wages_credit_against_applicable_employment_taxes
            output: qualified_sick_leave_wages_credit_against_applicable_employment_taxes
            hash: sha256:eb18d4a79c2902f4018ec4acfa89e326b6b86646355ace8ae4a89ab37c4f8aa9
        - path: versions[0].formula
          kind: import
          import:
            target: >-
              us:statutes/26/3132/a#qualified_family_leave_wages_credit_against_applicable_employment_taxes
            output: qualified_family_leave_wages_credit_against_applicable_employment_taxes
            hash: sha256:f249f97f60dad580a6e353f961a820960551254b821e267853fba2af34a1dfc2
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        max(
            0,
            applicable_employment_taxes_on_wages_paid_to_all_employees_for_calendar_quarter
            - qualified_sick_leave_wages_credit_against_applicable_employment_taxes
            - qualified_family_leave_wages_credit_against_applicable_employment_taxes
        )

employee_retention_credit_after_employment_tax_limitation

Derived

source: 26 USC 3134(b)(2)

- name: employee_retention_credit_after_employment_tax_limitation
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              The credit allowed by subsection (a) with respect to any calendar quarter shall not
              exceed the applicable employment taxes
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
            output: employee_retention_credit_after_recovery_startup_business_cap
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
            output: employment_tax_limitation_for_employee_retention_credit
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        min(
            employee_retention_credit_after_recovery_startup_business_cap,
            employment_tax_limitation_for_employee_retention_credit
        )

employee_retention_credit_refundable_excess

Derived

source: 26 USC 3134(b)(3)

- name: employee_retention_credit_refundable_excess
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              If the amount of the credit under subsection (a) exceeds the limitation of paragraph
              (2)
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: such excess shall be treated as an overpayment
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
            output: employee_retention_credit_after_recovery_startup_business_cap
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
            output: employment_tax_limitation_for_employee_retention_credit
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        max(
            0,
            employee_retention_credit_after_recovery_startup_business_cap
            - employment_tax_limitation_for_employee_retention_credit
        )

▸citations (2)

References

This rule cites 2 other rules.

26 USC § 3131inferredUS Federal › Statutes › Title 26 › § 3131
26 USC § 6402 (a)inferredUS Federal › Statutes › Title 26 › § 6402 › (a)

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us/statute/26/3134/b — Limitations and refundability · Axiom

Limitations and refundability

7 rules0 of 3 subsections

Official source

graph ↗build calculator ↗

(1) In general

(1)In general#

(2)Credit limited to employment taxes#

(3)Refundability of excess credit#

in view

Whole section

Encodings · 7

qualified_wages_employee_calendar_quarter_cap26 USC § 3134 (b) · parameter

26 USC 3134(b)(1)(A)

name: qualified_wages_employee_calendar_quarter_cap
kind: parameter
dtype: Money
unit: USD
source: 26 USC 3134(b)(1)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: shall not exceed $10,000
versions:
  - effective_from: '2021-01-01'
    formula: '10000'

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qualified_wages_taken_into_account_for_employee_for_calendar_quarter26 USC § 3134 (b) · derived

26 USC 3134(b)(1)(A)

name: qualified_wages_taken_into_account_for_employee_for_calendar_quarter
kind: derived
entity: Person
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(1)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            The amount of qualified wages with respect to any employee which may
            be taken into account
      - path: versions[0].formula
        kind: import
        import:
          target: us:statutes/26/3134/b#qualified_wages_employee_calendar_quarter_cap
          output: qualified_wages_employee_calendar_quarter_cap
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: |-
      min(
          max(0, qualified_wages_with_respect_to_employee_for_calendar_quarter),
          qualified_wages_employee_calendar_quarter_cap
      )

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recovery_startup_business_credit_calendar_quarter_cap26 USC § 3134 (b) · parameter

26 USC 3134(b)(1)(B)

name: recovery_startup_business_credit_calendar_quarter_cap
kind: parameter
dtype: Money
unit: USD
source: 26 USC 3134(b)(1)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: shall not exceed $50,000
versions:
  - effective_from: '2021-01-01'
    formula: '50000'

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employee_retention_credit_after_recovery_startup_business_cap26 USC § 3134 (b) · derived

26 USC 3134(b)(1)(B)

name: employee_retention_credit_after_recovery_startup_business_cap
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(1)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: eligible employer which is a recovery startup business
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            the amount of the credit allowed under subsection (a) (after
            application of subparagraph (A))
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#recovery_startup_business_credit_calendar_quarter_cap
          output: recovery_startup_business_credit_calendar_quarter_cap
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: >-
      if employer_is_recovery_startup_business: min(
          max(0, employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter),
          recovery_startup_business_credit_calendar_quarter_cap
      ) else: max(0,
      employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter)

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employment_tax_limitation_for_employee_retention_credit26 USC § 3134 (b) · derived

26 USC 3134(b)(2)

name: employment_tax_limitation_for_employee_retention_credit
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            applicable employment taxes (reduced by any credits allowed under
            sections 3131 and 3132)
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3131/a#qualified_sick_leave_wages_credit_against_applicable_employment_taxes
          output: >-
            qualified_sick_leave_wages_credit_against_applicable_employment_taxes
          hash: >-
            sha256:eb18d4a79c2902f4018ec4acfa89e326b6b86646355ace8ae4a89ab37c4f8aa9
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3132/a#qualified_family_leave_wages_credit_against_applicable_employment_taxes
          output: >-
            qualified_family_leave_wages_credit_against_applicable_employment_taxes
          hash: >-
            sha256:f249f97f60dad580a6e353f961a820960551254b821e267853fba2af34a1dfc2
versions:
  - effective_from: '2021-01-01'
    formula: |-
      max(
          0,
          applicable_employment_taxes_on_wages_paid_to_all_employees_for_calendar_quarter
          - qualified_sick_leave_wages_credit_against_applicable_employment_taxes
          - qualified_family_leave_wages_credit_against_applicable_employment_taxes
      )

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employee_retention_credit_after_employment_tax_limitation26 USC § 3134 (b) · derived

26 USC 3134(b)(2)

name: employee_retention_credit_after_employment_tax_limitation
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            The credit allowed by subsection (a) with respect to any calendar
            quarter shall not exceed the applicable employment taxes
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
          output: employee_retention_credit_after_recovery_startup_business_cap
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
          output: employment_tax_limitation_for_employee_retention_credit
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: |-
      min(
          employee_retention_credit_after_recovery_startup_business_cap,
          employment_tax_limitation_for_employee_retention_credit
      )

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employee_retention_credit_refundable_excess26 USC § 3134 (b) · derived

26 USC 3134(b)(3)

name: employee_retention_credit_refundable_excess
kind: derived
entity: Employer
dtype: Money
period: Year
unit: USD
source: 26 USC 3134(b)(3)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: >-
            If the amount of the credit under subsection (a) exceeds the
            limitation of paragraph (2)
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3134
          excerpt: such excess shall be treated as an overpayment
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
          output: employee_retention_credit_after_recovery_startup_business_cap
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
          output: employment_tax_limitation_for_employee_retention_credit
          hash: sha256:local
versions:
  - effective_from: '2021-01-01'
    formula: |-
      max(
          0,
          employee_retention_credit_after_recovery_startup_business_cap
          - employment_tax_limitation_for_employee_retention_credit
      )

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▸rulespec code

Shown source

statutes/26/3134/b.yaml

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Rules

qualified_wages_employee_calendar_quarter_cap

Parameter

source: 26 USC 3134(b)(1)(A)

- name: qualified_wages_employee_calendar_quarter_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 3134(b)(1)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: shall not exceed $10,000
  versions:
    - effective_from: '2021-01-01'
      formula: '10000'

qualified_wages_taken_into_account_for_employee_for_calendar_quarter

Derived

source: 26 USC 3134(b)(1)(A)

- name: qualified_wages_taken_into_account_for_employee_for_calendar_quarter
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(1)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              The amount of qualified wages with respect to any employee which may be taken into
              account
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#qualified_wages_employee_calendar_quarter_cap
            output: qualified_wages_employee_calendar_quarter_cap
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        min(
            max(0, qualified_wages_with_respect_to_employee_for_calendar_quarter),
            qualified_wages_employee_calendar_quarter_cap
        )

recovery_startup_business_credit_calendar_quarter_cap

Parameter

source: 26 USC 3134(b)(1)(B)

- name: recovery_startup_business_credit_calendar_quarter_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 3134(b)(1)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: shall not exceed $50,000
  versions:
    - effective_from: '2021-01-01'
      formula: '50000'

employee_retention_credit_after_recovery_startup_business_cap

Derived

source: 26 USC 3134(b)(1)(B)

- name: employee_retention_credit_after_recovery_startup_business_cap
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(1)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: eligible employer which is a recovery startup business
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              the amount of the credit allowed under subsection (a) (after application of
              subparagraph (A))
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#recovery_startup_business_credit_calendar_quarter_cap
            output: recovery_startup_business_credit_calendar_quarter_cap
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: >-
        if employer_is_recovery_startup_business: min(
            max(0, employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter),
            recovery_startup_business_credit_calendar_quarter_cap
        ) else: max(0,
        employee_retention_credit_under_subsection_a_after_employee_wage_cap_for_calendar_quarter)

employment_tax_limitation_for_employee_retention_credit

Derived

source: 26 USC 3134(b)(2)

- name: employment_tax_limitation_for_employee_retention_credit
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              applicable employment taxes (reduced by any credits allowed under sections 3131 and
              3132)
        - path: versions[0].formula
          kind: import
          import:
            target: >-
              us:statutes/26/3131/a#qualified_sick_leave_wages_credit_against_applicable_employment_taxes
            output: qualified_sick_leave_wages_credit_against_applicable_employment_taxes
            hash: sha256:eb18d4a79c2902f4018ec4acfa89e326b6b86646355ace8ae4a89ab37c4f8aa9
        - path: versions[0].formula
          kind: import
          import:
            target: >-
              us:statutes/26/3132/a#qualified_family_leave_wages_credit_against_applicable_employment_taxes
            output: qualified_family_leave_wages_credit_against_applicable_employment_taxes
            hash: sha256:f249f97f60dad580a6e353f961a820960551254b821e267853fba2af34a1dfc2
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        max(
            0,
            applicable_employment_taxes_on_wages_paid_to_all_employees_for_calendar_quarter
            - qualified_sick_leave_wages_credit_against_applicable_employment_taxes
            - qualified_family_leave_wages_credit_against_applicable_employment_taxes
        )

employee_retention_credit_after_employment_tax_limitation

Derived

source: 26 USC 3134(b)(2)

- name: employee_retention_credit_after_employment_tax_limitation
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              The credit allowed by subsection (a) with respect to any calendar quarter shall not
              exceed the applicable employment taxes
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
            output: employee_retention_credit_after_recovery_startup_business_cap
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
            output: employment_tax_limitation_for_employee_retention_credit
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        min(
            employee_retention_credit_after_recovery_startup_business_cap,
            employment_tax_limitation_for_employee_retention_credit
        )

employee_retention_credit_refundable_excess

Derived

source: 26 USC 3134(b)(3)

- name: employee_retention_credit_refundable_excess
  kind: derived
  entity: Employer
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 3134(b)(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: >-
              If the amount of the credit under subsection (a) exceeds the limitation of paragraph
              (2)
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3134
            excerpt: such excess shall be treated as an overpayment
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employee_retention_credit_after_recovery_startup_business_cap
            output: employee_retention_credit_after_recovery_startup_business_cap
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/3134/b#employment_tax_limitation_for_employee_retention_credit
            output: employment_tax_limitation_for_employee_retention_credit
            hash: sha256:local
  versions:
    - effective_from: '2021-01-01'
      formula: |-
        max(
            0,
            employee_retention_credit_after_recovery_startup_business_cap
            - employment_tax_limitation_for_employee_retention_credit
        )

▸citations (2)

References

This rule cites 2 other rules.

26 USC § 3131inferredUS Federal › Statutes › Title 26 › § 3131
26 USC § 6402 (a)inferredUS Federal › Statutes › Title 26 › § 6402 › (a)