Delaware Code Title 30 Sec. 2040 – Credit against corporation income tax for clean energy technology …
(a) In the case of any taxpayer that:
(1) Places in service a qualified facility in which the taxpayer is engaged in clean energy technology device manufacturing, as defined in § 2010(24) of this title; and
(2) Otherwise satisfies the requirements contained in § 2011(a) of this title for the allowance of a credit against the tax imposed by Chapter 19 of this title (relating to corporation income tax) for the taxable year of the taxpayer in which such qualified facility is placed in service by the taxpayer,
Terms Used In Delaware Code Title 30 Sec. 2040
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Tax: shall be deemed also to refer to license fees imposed under Part III of this title. See Delaware Code Title 30 Sec. 502
- Taxable: means any person, fiduciary, association of persons, syndicate, joint venture or copartnership subject to making return or to payment of tax imposed by this title. See Delaware Code Title 30 Sec. 101
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
§ 2011 of this title shall be applied with respect to such qualified facility by substituting “$750” for “$500” in § 2011(b)(1) and (2) of this title.
(b) In the case of any taxpayer that:
(1) Places in service a qualified facility in which the taxpayer is engaged in clean energy technology device manufacturing, as defined in § 2010(24) of this title; and
(2) Otherwise satisfies the requirements contained in § 2011(k) of this title,
such taxpayer shall be allowed a credit equal to 75% of the credit allowable under subsection (a) of this section, subject, however, to limitation and carryover provisions under § 2011(d) and (f) of this title. The credit claimed in any tax year (including amounts carried over from previous tax years) shall not exceed the difference between $500,000 and the amount of credits claimed under § 2012 of this title for the 12 months comprising said tax year. Amounts of credit not used by virtue of the preceding sentence may be carried forward as if such unused credits arose by virtue of § 2011(f) of this title. No taxpayer may be eligible for credit under both this subsection and subsection (a) of this section for the same facility.