[Code of Federal Regulations]
[Title 26, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.41-8]

[Page 136]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.41-8  Special rules for taxable years ending on or after January 3, 2001.

    (a) Alternative incremental credit. At the election of the taxpayer, 
the credit determined under section 41(a)(1) equals the amount 
determined under section 41(c)(4).
    (b) Election--(1) In general. A taxpayer may elect to apply the 
provisions of the alternative incremental credit in section 41(c)(4) for 
any taxable year of the taxpayer beginning after June 30, 1996. If a 
taxpayer makes an election under section 41(c)(4), the election applies 
to the taxable year for which made and all subsequent taxable years.
    (2) Time and manner of election. An election under section 41(c)(4) 
is made by completing the portion of Form 6765, ``Credit for Increasing 
Research Activities,'' relating to the election of the alternative 
incremental credit, and attaching the completed form to the taxpayer's 
timely filed original return (including extensions) for the taxable year 
to which the election applies.
    (3) Revocation. An election under this section may not be revoked 
except with the consent of the Commissioner. A taxpayer must attach the 
Commissioner's consent to revoke an election under section 41(c)(4) to 
the taxpayer's timely filed original return (including extensions) for 
the taxable year of the revocation.
    (4) Effective date. Paragraphs (b)(2) and (3) of this section are 
applicable for taxable years ending on or after January 3, 2001.

[T.D. 8930, 66 FR 295, Jan. 3, 2001]