District of Columbia § 47-4304.01 Defined tax credit related to IRS income adjustments.

District of Columbia Statutes

§ 47-4304.01 — Defined tax credit related to IRS income adjustments.

District of Columbia § 47-4304.01

Title 47Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]

Ch. 43Administration.

Subch. ILimitations.

This text of District of Columbia § 47-4304.01 (Defined tax credit related to IRS income adjustments.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 47-4304.01 (2026).

Text

A taxpayer whose taxable income was changed or corrected by the Commissioner of Internal Revenue for taxable years beginning after December 31, 1997, and ending before January 1, 2001, shall be allowed a tax credit equal to the decrease in the District tax for the applicable years; provided, that:

(1)The changed or corrected taxable income was based on a federal income tax provision to which District tax law conforms;

(2)The District has not previously adjusted the taxpayer’s return to encompass the change or correction;

(3)The tax credit shall be applied over a 4-year period in equal amounts in tax years beginning on or after January 1, 2019.

(4)The credit shall be without overpayment interest; and

(5)In each year in which the credit is taken on a return, the taxpayer shall noti

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A taxpayer whose taxable income was changed or corrected by the Commissioner of Internal Revenue for taxable years beginning after December 31, 1997, and ending before January 1, 2001, shall be allowed a tax credit equal to the decrease in the District tax for the applicable years; provided, that:

(1) The changed or corrected taxable income was based on a federal income tax provision to which District tax law conforms;

(2) The District has not previously adjusted the taxpayer’s return to encompass the change or correction;

(3) The tax credit shall be applied over a 4-year period in equal amounts in tax years beginning on or after January 1, 2019.

(4) The credit shall be without overpayment interest; and

(5) In each year in which the credit is taken on a return, the taxpayer shall notify the Office of Tax and Revenue by designating on that return the tax type or types to which the credit shall apply for that year.

Legislative History

Feb. 22, 2014, D.C. Law 20-85, § 2(b), 61 DCR 184; Feb. 26, 2015, D.C. Law 20-155, § 7002, 61 DCR 9990; Oct. 22, 2015, D.C. Law 21-36, § 7046, 62 DCR 10905