Texas § TX.171.557 - CARRY FORWARD OR BACKWARD
Full text of Texas The Texas Constitution § TX.171.557 — CARRY FORWARD OR BACKWARD, with citation guidance and answers to common questions.
§ TX.171.557. CARRY FORWARD OR BACKWARD
CARRY FORWARD OR BACKWARD. (a) If a taxable entity is eligible for a credit that exceeds the limitations under Section 171.556 , the taxable entity may carry the unused credit back for not more than three tax years or forward for not more than 10 consecutive reports following the tax year in which the allocation certificate was issued. A credit carryforward from a previous report is considered to be used before the current year installment. A credit carried back to a previous report is considered to be used after any other franchise tax credit is applied to that report. (b) A credit that is not used may not be refunded. (c) The allocation of a credit in accordance with Section 171.559 does not extend the period for which a credit may be carried forward and does not increase the total amount of the credit that may be claimed. (d) An entity may not carry back a credit under this subchapter to a tax year for which the report was originally due before January 1, 2026. Added by Acts 2023, 88th Leg., R.S., Ch. 811 (H.B. 1058 ), Sec. 1, eff. January 1, 2024.
Frequently Asked Questions About Texas § TX.171.557
What does The Texas Constitution § TX.171.557 cover?
Section TX.171.557 ("CARRY FORWARD OR BACKWARD") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § TX.171.557?
A common citation format is "The Texas Constitution § TX.171.557" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § TX.171.557 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.