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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.

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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 (1)

References

This rule cites 1 other rule.

26 USC § 3131inferredUS Federal › Statutes › Title 26 › § 3131

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us/statute/26/3134/b/2 — Credit limited to employment taxes · Axiom

Credit limited to employment taxes

Official source

in view

Whole section

▸rulespec code

Shown source

statutes/26/3134/b.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/3134/b; no dedicated encoding exists for this exact provision yet.

View on GitHub

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 (1)

References

This rule cites 1 other rule.

26 USC § 3131inferredUS Federal › Statutes › Title 26 › § 3131