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previous page Previous Page: Publication 334 - Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) - Where Do I Report Gains and Losses?
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taxmap/pubs/p334-012.htm#en_us_publink100025154

Chapter 4
General Business Credits(p18)

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taxmap/pubs/p334-012.htm#TXMP4baa592aIntroduction

Your general business credit for the year consists of your carryforward of business credits from prior years plus the total of your current year business credits. In addition, your general business credit for the current year may be increased later by the carryback of business credits from later years. You subtract this credit directly from your tax.

taxmap/pubs/p334-012.htm#TXMP4629854a

Useful items

You may want to see:


Publication
 954 Tax Incentives for Distressed Communities
Form (and Instructions)
 3800: General Business Credit
 6251: Alternative Minimum Tax—Individuals
See chapter 12 for information about getting publications and forms.
taxmap/pubs/p334-012.htm#en_us_publink100025155

Business Credits(p18)


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All of the following credits are part of the general business credit. The form you use to figure each credit is shown in parentheses. You will also have to complete Form 3800.
taxmap/pubs/p334-012.htm#en_us_publink1000117446

Agricultural chemicals security credit (Form 8931).(p18)


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This credit applies to qualified agricultural chemical security expenses paid or incurred by eligible agricultural businesses. For more information, see Form 8931.
taxmap/pubs/p334-012.htm#en_us_publink1000117447

Alcohol and cellulosic biofuel fuels credit (Form 6478).(p19)


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This credit consists of the alcohol mixture credit, alcohol credit, small ethanol producer credit, and cellulosic biofuel producer credit. For more information, see Form 6478.
taxmap/pubs/p334-012.htm#en_us_publink100025156

Alternative fuel vehicle refueling property credit (Form 8911).(p19)


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This credit applies to the cost of any qualified fuel vehicle refueling property you placed in service. For more information, see Form 8911.
taxmap/pubs/p334-012.htm#en_us_publink100025157

Alternative motor vehicle credit (Form 8910).(p19)


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This credit consists of the following four credits for new vehicles you placed in service. For more information, see Form 8910.
taxmap/pubs/p334-012.htm#en_us_publink100025158

Biodiesel and renewable diesel fuels credit (Form 8864).(p19)


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This credit applies to certain fuel sold or used in your business. For more information, see Form 8864.
taxmap/pubs/p334-012.htm#en_us_publink1000116302

Carbon dioxide sequestration credit (Form 8933).(p19)


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This credit is for carbon dioxide which is captured at a qualified facility and disposed of in a secure geological storage or used in a qualified enhanced oil or natural gas recovery project. For more information, see Form 8933.
taxmap/pubs/p334-012.htm#en_us_publink100025160

Credit for contributions to selected community development corporations (Form 8847).(p19)


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This credit applies to certain contributions made to a selected community development corporation before June 30, 1999. For more information, see Form 8847.
taxmap/pubs/p334-012.htm#en_us_publink100025161

Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846).(p19)


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This credit is generally equal to your (employer's) portion of social security and Medicare taxes paid on tips received by employees of your food and beverage establishment where tipping is customary. The credit applies regardless of whether the food is consumed on or off your business premises. For more information, see Form 8846.
taxmap/pubs/p334-012.htm#en_us_publink1000116308

Credit for employer differential wage payments (Form 8932).(p19)


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This credit provides certain small businesses with an incentive to continue to pay wages to an employee performing services on active duty in the uniformed services of the United States for a period of more than 30 days. For more information, see Form 8932.
taxmap/pubs/p334-012.htm#en_us_publink100025162

Credit for employer-provided childcare facilities and services (Form 8882).(p19)


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This credit applies to the qualified expenses you paid for employee childcare and qualified expenses you paid for childcare resource and referral services. For more information, see Form 8882.
taxmap/pubs/p334-012.htm#en_us_publink100025163

Credit for increasing research activities (Form 6765).(p19)


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This credit is designed to encourage businesses to increase the amounts they spend on research and experimental activities, including energy research. For more information, see Form 6765.
taxmap/pubs/p334-012.htm#en_us_publink100025164

Credit for small employer pension plan startup costs (Form 8881).(p19)


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This credit applies to pension plan startup costs of a new qualified defined benefit or defined contribution plan (including a 401(k) plan), SIMPLE plan, or simplified employee pension. For more information, see Publication 560, Retirement Plans for Small Business (SEP, Simple, and Qualified Plans).
taxmap/pubs/p334-012.htm#en_us_publink100025165

Disabled access credit (Form 8826).(p19)


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This credit is a nonrefundable tax credit for an eligible small business that pays or incurs expenses to provide access to persons who have disabilities. You must pay or incur the expenses to enable your business to comply with the Americans with Disabilities Act of 1990. For more information, see Form 8826.
taxmap/pubs/p334-012.htm#en_us_publink100025166

Distilled spirits credit (Form 8906).(p19)


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This credit is available to distillers and importers of distilled spirits and eligible wholesalers of distilled spirits. For more information, see Form 8906.
taxmap/pubs/p334-012.htm#en_us_publink100025167

Empowerment zone and renewal community employment credit (Form 8844).(p19)


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You may qualify for this credit if you have employees and are engaged in a business in an empowerment zone or renewal community for which the credit is available. For more information, see Form 8844 and Publication 954.
taxmap/pubs/p334-012.htm#en_us_publink100025168

Energy efficient appliance credit (Form 8909).(p19)


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This credit is available for manufacturers of eligible appliances. For more information, see Form 8909.
taxmap/pubs/p334-012.htm#en_us_publink100025169

Energy efficient home credit (Form 8908).(p19)


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This credit is available for eligible contractors of certain homes sold for use as a residence. For more information, see Form 8908.
taxmap/pubs/p334-012.htm#en_us_publink100025170

Indian employment credit (Form 8845).(p19)


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This credit applies to qualified wages and health insurance costs you paid or incurred for qualified employees. For more information, see Form 8845 and Publication 954.
taxmap/pubs/p334-012.htm#en_us_publink100025171

Investment credit (Form 3468).(p19)


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The investment credit is the total of the following credits. For more information, see Form 3468.
taxmap/pubs/p334-012.htm#en_us_publink100025172

Low sulfur diesel fuel production credit (Form 8896).(p19)


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This credit is for the production of low sulfur diesel by a qualified small business. For more information, see Form 8896.
taxmap/pubs/p334-012.htm#en_us_publink100025173

Low-income housing credit (Form 8586).(p19)


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This credit generally applies to each new qualified low-income building placed in service after 1986. For more information, see Form 8586.
taxmap/pubs/p334-012.htm#en_us_publink100025174

Mine rescue team training credit (Form 8923).(p19)


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This credit applies to training program costs you pay or incur for certain mine rescue team employees. For more information, see Form 8923.
taxmap/pubs/p334-012.htm#en_us_publink100025175

New markets credit (Form 8874).(p20)


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This credit is for qualified equity investments made in qualified community development entities. For more information, see Form 8874.
taxmap/pubs/p334-012.htm#en_us_publink100025176

Nonconventional source fuel credit (Form 8907).(p20)


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This credit is for gas produced from biomass; liquid, gaseous, or solid synthetic fuels produced from coal; and coke or coke gas. For more information, see Form 8907.
taxmap/pubs/p334-012.htm#en_us_publink100025177

Orphan drug credit (Form 8820).(p20)


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This credit applies to qualified expenses incurred in testing certain drugs, known as "orphan drugs for rare diseases and conditions." For more information, see Form 8820.
taxmap/pubs/p334-012.htm#en_us_publink100025178

Qualified railroad track maintenance credit (Form 8900).(p20)


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This credit applies to certain regional and switching railroads who may be able to claim a credit for expenses made to upgrade their railroad tracks (including roadbed, bridges, and related track structures). For more information, see Form 8900.
taxmap/pubs/p334-012.htm#en_us_publink100025179

Renewable electricity, refined coal, and Indian coal production credit (Form 8835).(p20)


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This credit is for the sale of electricity, refined coal, or Indian coal produced in the United States or U.S. possessions from qualified energy resources at a qualified facility. For more information, see Form 8835.
taxmap/pubs/p334-012.htm#en_us_publink100025180

Welfare-to-work credit (Form 8861).(p20)


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This credit provided businesses with an incentive to hire long-term family assistance recipients. It may be available for employees who began work for you before 2007. The work opportunity credit provides a similar incentive for employees who began working for you after 2006. For more information see Form 8861 and Form 5884.
taxmap/pubs/p334-012.htm#en_us_publink100025181

Work opportunity credit (Form 5884).(p20)


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This credit provides businesses with an incentive to hire individuals from targeted groups that have a particularly high unemployment rate or other special employment needs. For more information, see Form 5884.
previous pagePrevious Page: Publication 334 - Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) - Where Do I Report Gains and Losses?
next pageNext Page: Publication 334 - Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) - How To Claim the Credit
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication