first credit year
Defined in 1 place of the United States Code.
The term “first credit year” means—
(A) the taxable year which includes the date that the eligible employer plan to which such costs relate becomes effective, or
(B) at the election of the eligible employer, the taxable year preceding the taxable year referred to in subparagraph (A).
Source
- 2013–202226 U.S.C. § 45EInternal Revenue Code · Small employer pension plan startup costs · for purposes of this section
The term "first credit year" means—
(A) the taxable year which includes the date that the eligible employer plan to which such costs relate becomes effective, or
(B) at the election of the eligible employer, the taxable year preceding the taxable year referred to in subparagraph (A).
For purposes of this section—
Source
- 2001–202026 U.S.C. § 45EInternal Revenue Code · Small employer pension plan startup costs · for purposes of this section
The term “first credit year” means—
(A) the taxable year which includes the date that the eligible employer plan to which such costs relate becomes effective with respect to the eligible employer, or
(B) at the election of the eligible employer, the taxable year preceding the taxable year referred to in subparagraph (A).
Source
- 2023–present26 U.S.C. § 45EInternal Revenue Code · Small employer pension plan startup costs · for purposes of this section
The term "first credit year" means—
(A) the taxable year which includes the date that the eligible employer plan to which such costs relate becomes effective with respect to the eligible employer, or
(B) at the election of the eligible employer, the taxable year preceding the taxable year referred to in subparagraph (A).
For purposes of this section—
Source
- 2022–202326 U.S.C. § 45EInternal Revenue Code · Small employer pension plan startup costs · for purposes of this section