[Code of Federal Regulations]
[Title 26, Volume 4]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.381(c)(26)-1]

[Page 446]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.381(c)(26)-1  Credit for employment of certain new employees.

    (a) Carryovers and carrybacks. For taxable years beginning before 
January 1, 1984, the computation of carryovers and carrybacks of unused 
targeted jobs credit (new jobs credit in the case of wages paid before 
1979) under section 44B (as in effect prior to enactment of the Tax 
Reform Act of 1984) in a transaction to which section 381(a) applies 
shall be made under the principles of Sec. 1.381(c)(23)-1 (relating to 
the computation of carryovers and carrybacks of unused investment 
credit), except that the provisions of paragraph (c)(4) and paragraph 
(e)(6), (7) and (8) of such section shall not apply.
    (b) Other items. See Sec. 1.51-1(h) for a rule that applies to 
certain transfers of a trade or business in which a member of a targeted 
group is employed.

[T.D. 8062, 50 FR 46003, Nov. 6, 1985]