Internal Revenue Code · 26 U.S.C.
§ 46. Amount of credit
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 46
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Added
- October 16, 1962 by Pub. L. 87–834
- Last amended
- August 16, 2022 by Pub. L. 117–169
- Amendments
- 32 dated changes in the source credit
- Length
- 7 subsections · 773 words · about 3 min to read
- Cross-references
- cites 1; cited by 16 Code sections and 42 other regulations
- Regulations
- 9 issued under this section
(Added Pub. L. 87–834, § 2(b), Oct. 16, 1962, 76 Stat. 963; amended Pub. L. 88–272, title II, § 201(d)(4), Feb. 26, 1964, 78 Stat. 32; Pub. L. 89–384, § 1(c)(1), Apr. 8, 1966, 80 Stat. 102; Pub. L. 89–389, § 2(b)(5), Apr. 14, 1966, 80 Stat. 114; Pub. L. 89–800, § 3, Nov. 8, 1966, 80 Stat. 1514; Pub. L. 90–225, § 2(a), Dec. 27, 1967, 81 Stat. 731; Pub. L. 91–172, title III, § 301(b)(4), title IV, § 401(e)(1), title VII, § 703(b), Dec. 30, 1969, 83 Stat. 585, 603, 666; Pub. L. 92–178, title I, §§ 102(a)(1), (b), 105(a)–(c), 106(a)–(c), 107(a)(1), 108(a), Dec. 10, 1971, 85 Stat. 499, 503, 506, 507; Pub. L. 93–406, title II, §§ 2001(g)(2)(B), 2002(g)(2), 2005(c)(4), Sept. 2, 1974, 88 Stat. 957, 968, 991; Pub. L. 94–12, title III, § 301(a), (b)(1)–(3), 302(a), (b)(1), Mar. 29, 1975, 89 Stat. 36, 37, 40, 43; Pub. L. 94–455, title V, § 503(b)(4), title VIII, §§ 802(a), (b)(1)–(5), 803(a), (b)(1), 805(a), title XVI, § 1607(b)(1)(B), title XVII, §§ 1701(b), 1703, title XIX, §§ 1901(a)(4), (b)(1)(C), 1906(b)(13)(A), title XXI, § 2112(a)(2), Oct. 4, 1976, 90 Stat. 1562, 1580–1583, 1596, 1756, 1759, 1761, 1764, 1790, 1834, 1905; Pub. L. 95–600, title I, § 141(e), (f)(2), title III, §§ 311(a), (c), 312(a), (b), (c)(2), 313(a), 316(a), (b)(1), (2), title VII, § 703(a)(1), (2), (j)(9), Nov. 6, 1978, 92 Stat. 2794, 2795, 2824–2826, 2829, 2939, 2941; Pub. L. 95–618, title II, § 241(a), title III, § 301(a), (c)(1), Nov. 9, 1978, 92 Stat. 3192, 3194, 3199; Pub. L. 96–222, title I, §§ 101(a)(7)(A), (L)(iii)(I), (v)(I), (M)(i), 103(a)(2)(A), (B)(i)–(iii), (3), (4)(A), 107(a)(3)(A), Apr. 1, 1980, 94 Stat. 197, 200, 201, 208, 209, 223; Pub. L. 96–223, title II, §§ 221(a), 222(e)(2), 223(b)(1), Apr. 2, 1980, 94 Stat. 260, 263, 266; Pub. L. 97–34, title II, §§ 207(c)(1), 211(a)(1), (b), (d), (e)(1), (2), (f)(1), 212(a)(1), (2), title III, §§ 302(c)(3), (d)(1), 332(a), Aug. 13, 1981, 95 Stat. 225, 227–229, 235, 236, 272, 274, 296; Pub. L. 97–248, title II, § 201(d)(8)(A), formerly § 201(c)(8)(A), §§ 205(b), 265(b)(2)(A)(i), Sept. 3, 1982, 96 Stat. 420, 430, 547, renumbered § 201(d)(8)(A), Pub. L. 97–448, title III, § 306(a)(1)(A)(i), Jan. 12, 1983, 96 Stat. 2400; Pub. L. 97–354, § 5(a)(4)–(6), Oct. 19, 1982, 96 Stat. 1692; Pub. L. 97–424, title V, §§ 541(b), 546(b), Jan. 6, 1983, 96 Stat. 2192, 2199; Pub. L. 97–448, title I, § 102(e)(1), (f)(5), title II, § 202(f), Jan. 12, 1983, 96 Stat. 2370, 2372, 2396; Pub. L. 98–21, title I, § 122(c)(1), Apr. 20, 1983, 97 Stat. 87; Pub. L. 98–369, div. A, title I, §§ 16(a), 31(f), 113(b)(2)(B), title IV, §§ 431(a), (b)(1), (d)(1)–(3), 474(o)(1)–(7), title VII, § 713(c)(1)(C), July 18, 1984, 98 Stat. 505, 521, 637, 805, 807, 810, 834–836, 957; Pub. L. 99–514, title II, §§ 201(d)(7)(B), 251(a), title IV, § 421(a), (b), title XVIII, §§ 1802(a)(6), (8), 1844(a), (b)(3), (5), 1847(b)(11), 1848(a), Oct. 22, 1986, 100 Stat. 2141, 2183, 2229, 2789, 2855, 2857; Pub. L. 100–647, title I, §§ 1002(a)(4), (15), (17), (25), 1009(a)(1), 1013(a)(44), title IV, § 4006, Nov. 10, 1988, 102 Stat. 3353, 3355, 3356, 3445, 3545, 3652; Pub. L. 101–239, title VII, §§ 7106, 7814(d), Dec. 19, 1989, 103 Stat. 2306, 2413; Pub. L. 101–508, title XI, §§ 11406, 11813(a), Nov. 5, 1990, 104 Stat. 1388–474, 1388–536; Pub. L. 108–357, title III, § 322(d)(1), Oct. 22, 2004, 118 Stat. 1475; Pub. L. 109–58, title XIII, § 1307(a), Aug. 8, 2005, 119 Stat. 999; Pub. L. 111–5, div. B, title I, § 1302(a), Feb. 17, 2009, 123 Stat. 345; Pub. L. 111–148, title IX, § 9023(b), Mar. 23, 2010, 124 Stat. 880; Pub. L. 113–295, div. A, title II, § 220(c), Dec. 19, 2014, 128 Stat. 4035; Pub. L. 117–167, div. A, § 107(d)(1), Aug. 9, 2022, 136 Stat. 1398; Pub. L. 117–169, title I, § 13702(b)(1), Aug. 16, 2022, 136 Stat. 1996.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 46
- § 1.46-1 Determination of amount.
- § 1.46-2 Carryback and carryover of unused credit.
- § 1.46-3 Qualified investment.
- § 1.46-4 Limitations with respect to certain persons.
- § 1.46-5 Qualified progress expenditures.
- § 1.46-6 Limitation in case of certain regulated companies.
- § 1.46-7 Statutory provisions; plan requirements for taxpayers electing additional investment credit, etc.
- § 1.46-8 Requirements for taxpayers electing additional one-percent investment credit (TRASOP's).
- § 1.46-9 Requirements for taxpayers electing an extra one-half percent additional investment credit.
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited by 16 Code sections
- § 38(b)(1) General business credit
- § 45Z(d)(4)(B)(ii) Clean fuel production credit
- § 47(a)(1) Rehabilitation credit
- § 48(a)(1) Energy credit
- § 48A(a) Qualifying advanced coal project credit
- § 48B(a) Qualifying gasification project credit
- § 48C(a) Qualifying advanced energy project credit
- § 48D(a) Advanced manufacturing investment credit
- § 48E(a)(1) Clean electricity investment credit
- § 49(a)(1)(F) At-risk rules
- § 50(a)(3)(A) Other special rules
- § 52(e)(2) Special rules
- § 59A(b)(3)(C) Tax on base erosion payments of taxpayers with substantial gross receipts
- § 111(b)(3) Recovery of tax benefit items
- § 196(c)(1) Deduction for certain unused business credits
- § 6418(g)(4) Transfer of certain credits
Cited in 42 regulations not issued under it
- § 1.38-1 Investment in certain depreciable property.
- § 1.47-1 Recomputation of credit allowed by section 38.
- § 1.47-7 Rehabilitation credit allocated over a 5-year period.
- § 1.48-1 Definition of section 38 property.
- § 1.48-3 Used section 38 property.
- § 1.48-4 Election of lessor of new section 38 property to treat lessee as purchaser.
- § 1.48-5 Electing small business corporations.
- § 1.48-6 Estates and trusts.
- § 1.48-11 Qualified rehabilitated building; expenditures incurred before January 1, 1982.
- § 1.48-12 Qualified rehabilitated building; expenditures incurred after December 31, 1981.
- § 1.48D-1 Advanced manufacturing investment credit determined.
- § 1.48D-6 Elective payment election.
- § 1.48E-1 Clean electricity investment credit.
- § 1.48E(h)-1 Clean Electricity Low-Income Communities Bonus Credit Amount Program.
- § 1.50-1 Lessee's income inclusion following election of lessor of investment credit property to treat lessee as acquirer.
- § 1.50-2 Recapture of the advanced manufacturing investment credit in the case of certain expansions.
- § 1.52-3 Limitations with respect to certain persons.
- § 1.59A-1 Base erosion and anti-abuse tax.
- § 1.167(a)-11 Depreciation based on class lives and asset depreciation ranges for property placed in service after December 31, 1970.
- § 1.167(l)-1 Limitations on reasonable allowance in case of property of certain public utilities.
- § 1.280F-1T Limitations on investment tax credit and recovery deductions under section 168 for passenger automobiles and certain other listed property; overview of regulations (temporary).
- § 1.280F-2T Limitations on recovery deductions and the investment tax credit for certain passenger automobiles (temporary).
- § 1.280F-3T Limitations on recovery deductions and the investment tax credit when the business use percentage of listed property is not greater than 50 percent (temporary).
- § 1.367(a)-6T Transfer of foreign branch with previously deducted losses (temporary).
Show 18 more
- § 1.381(c)(23)-1 Investment credit carryovers in certain corporate acquisitions.
- § 1.383-1 Special limitations on certain capital losses and excess credits.
- § 1.469-3T Passive activity credit (temporary).
- § 1.1502-3 Consolidated tax credits.
- § 1.1502-79 Separate return years.
- § 1.6411-1 Tentative carryback adjustments.
- § 1.6417-4 Elective payment election for electing taxpayers that are partnerships or S corporations.
- § 1.6418-2 Rules for making transfer elections.
- § 1.6654-2 Exceptions to imposition of the addition to the tax in the case of individuals.
- § 1.9006-1 Interest and penalties in case of certain taxable years.
- § 7.48-2 Election of forty-percent method of determining investment credit for movie and television films placed in service in a taxable year beginning before January 1, 1975.
- § 9.1 Investment credit—public utility property elections.
- § 12.3 Investment credit, public utility property elections.
- § 301.6231(a)(3)-1 Partnership items.
- § 301.6511(d)-4 Overpayment of income tax on account of investment credit carryback.
- § 301.6621-2T Questions and answers relating to the increased rate of interest on substantial underpayments attributable to certain tax motivated transactions (temporary).
- § 301.9100-5T Time and manner of making certain elections under the Tax Equity and Fiscal Responsibility Act of 1982.
- § 301.9100-6T Time and manner of making certain elections under the Deficit Reduction Act of 1984.
Amendment history
From the source credit and the official notes, newest first.
- Amended by Pub. L. 117–169
- Amended by Pub. L. 117–167
- Amended by Pub. L. 113–295
- Amended by Pub. L. 111–148
- Amended by Pub. L. 111–5
- Amended by Pub. L. 109–58
- Amended by Pub. L. 108–357
- Amended by Pub. L. 101–508Parts changed in 1990: (b)(2)(A)
- Amended by Pub. L. 101–239Parts changed in 1989: (b)(2)(A)
- Amended by Pub. L. 100–647Parts changed in 1988: (b)(2)(A) (c)(5)(B) (c)(7) (d)(1)(B)(i) (d)(1)(B)(ii) (e)(3) (e)(4)(B) (e)(4)(C) (e)(4)(D) (e)(4)(E)
- Amended by Pub. L. 99–514Parts changed in 1986: (b)(2)(A) (b)(2)(E) (b)(4) (c)(8)(D)(v) (c)(9)(A) (c)(9)(C)(i) (e)(4)(D) (f)(9)
- Amended by Pub. L. 98–369Parts changed in 1984: (a) (a)(4) (b) (c)(7)(A) (c)(8) (c)(8)(A) (c)(8)(B) (c)(8)(C) (c)(8)(D) (c)(8)(D)(i)(I) (c)(8)(E) (c)(8)(F)(i) (c)(8)(F)(ii)(II) (c)(8)(F)(ii)(III) (c)(8)(F)(ii)(IV) (c)(9) (e)(1) (e)(2) (e)(4) (f)(1) (f)(1)(A) (f)(2) (f)(2)(A) (f)(4)(B) (f)(8) (g)(2) (h)(1)
- Amended by Pub. L. 98–21Parts changed in 1983: (a)(2)(C)(i) (a)(2)(C)(iii)(I) (a)(2)(F)(iii)(II) (a)(2)(F)(iii)(III) (a)(4)(B) (c)(7) (f)(10)
- Amended by Pub. L. 97–448
- Amended by Pub. L. 97–424
- Amended by Pub. L. 97–354Parts changed in 1982: (a)(3)(B) (a)(4) (a)(7) (a)(8) (a)(9) (c)(8)(C) (e)(3)
- Amended by Pub. L. 97–248
- Amended by Pub. L. 97–34Parts changed in 1981: (a)(2)(A)(iv) (a)(2)(E) (a)(2)(F) (b)(1) (c)(2) (c)(6)(A) (c)(7) (c)(8) (c)(8)(D)(i)(I) (c)(9) (d)(1) (d)(2)(A)(ii) (e)(3)
- Amended by Pub. L. 96–223Parts changed in 1980: (a)(2)(A) (a)(2)(C) (a)(2)(D) (a)(2)(E) (a)(9) (a)(9)(A) (a)(9)(B) (a)(9)(C) (a)(10) (c)(5)(B) (e)(3) (f)(1) (f)(8) (f)(9)
- Amended by Pub. L. 96–222
- Amended by Pub. L. 95–618Parts changed in 1978: (a)(2) (a)(2)(B) (a)(2)(E) (a)(3) (a)(7) (a)(8) (a)(9) (a)(10) (c)(3)(A) (c)(5) (c)(6) (e)(1)(C) (e)(2)(C) (f)(1) (f)(8) (g)(5) (h)
- Amended by Pub. L. 95–600
- Amended by Pub. L. 94–455Parts changed in 1976: (a)(1) (a)(2) (a)(3) (a)(4) (a)(5) (a)(6) (a)(7) (a)(8) (a)(9) (b) (c)(3)(A) (c)(3)(B)(iii) (c)(5) (d)(4)(D) (e)(1)(C) (e)(2) (f)(1)(B) (f)(4)(A) (f)(4)(B)(ii) (f)(7) (f)(8) (f)(9) (g)
- Amended by Pub. L. 94–12Parts changed in 1975: (a)(1) (a)(6) (c)(3)(A) (c)(4) (d) (f)
- Amended by Pub. L. 93–406Parts changed in 1974: (a)(3)
- Amended by Pub. L. 92–178Parts changed in 1971: (b)(1) (b)(3) (b)(5) (b)(6) (c)(2) (c)(3)(A) (c)(3)(B) (c)(3)(C) (c)(4) (d)(3) (e)
- Amended by Pub. L. 91–172Parts changed in 1969: (a)(3) (a)(5) (b)(5)
- Amended by Pub. L. 90–225Parts changed in 1967: (b)
- Amended by Pub. L. 89–800Parts changed in 1966: (a)(2) (a)(3) (b)(1)
- Amended by Pub. L. 89–389
- Amended by Pub. L. 89–384
- Amended by Pub. L. 88–272Parts changed in 1964: (a)(3)(B)
- Added by Pub. L. 87–834
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter A Determination of Tax Liability
- Part IV CREDITS AGAINST TAX
- Subpart E Rules for Computing Investment Credit
Nearby sections
Official notes
The Law Revision Counsel's notes for this section (amendments, effective dates and related laws) are long, so they have their own page.