§ 1.45G-1T - Railroad track maintenance credit (temporary).

§ 1.45G-1T. Railroad track maintenance credit (temporary).

Cross Reference

Link to an amendment published at 83 FR 13185, Mar. 28, 2018.

(a) through (e) [Reserved]. For further guidance, see § 1.45G-1(a) through (e).

(f)

(1) through (3) [Reserved]. For further guidance, see § 1.45G-1(f)(1) through (3).

(4) Allocation of the group credit. The group credit is allocated to each member of the controlled group on a proportionate basis to its share of the aggregate of the QRTMEs taken into account for the taxable year by such controlled group for purposes of the credit.

(5) Special rules for consolidated groups -

(i) In general. For purposes of applying paragraph (f)(4) of this section, members of a consolidated group who are members of a controlled group are treated as a single member of the controlled group.

(ii) Special rule for allocation of group credit among consolidated group members. The portion of the group credit that is allocated to a consolidated group is allocated to each member of the consolidated group on a proportionate basis to its share of the aggregate of the QRTMEs taken into account for the taxable year by such consolidated group for purposes of the credit.

(6) through (8) [Reserved]. For further guidance, see § 1.45G-1(f)(6) through (8).

(g)

(1) through (3) [Reserved]. For further guidance, see § 1.45G-1(g)(1) through (3).

(4) Taxable years beginning after December 31, 2011. Section 1.45G-1T is applicable for taxable years beginning on or after April 3, 2015. Taxpayers may apply § 1.45G-1T to taxable years beginning after December 31, 2011, but before April 3, 2015. For a taxpayer that does not apply § 1.45G-1T to a taxable year beginning after December 31, 2011, but before April 3, 2015, the guidance that applies to such taxable year is contained in Notice 2013-20 (2013-15 IRB 902).

(5) Taxable years ending before January 1, 2012. See § 1.45-1 as contained in 26 CFR part 1, revised April 1, 2014.

(6) Expiration date. The applicability of § 1.45G-1T expires on April 2, 2018.

[T.D. 9717, 80 FR 18099, Apr. 3, 2015]