US Code

Public Law 119-73 (01/23/2026)

26 U.S.C. § 53

Credit for prior year minimum tax liability

(a)

Allowance of credit

There shall be allowed as a credit against the tax imposed by this chapter for any taxable year an amount equal to the minimum tax credit for such taxable year.

(b)

Minimum tax credit

For purposes of subsection (a), the minimum tax credit for any taxable year is the excess (if any) of—
(1)
the adjusted net minimum tax imposed for all prior taxable years beginning after 1986, over
(2)
the amount allowable as a credit under subsection (a) for such prior taxable years.
(c)

Limitation

The credit allowable under subsection (a) for any taxable year shall not exceed the excess (if any) of—
(1)
the regular tax liability of the taxpayer for such taxable year reduced by the sum of the credits allowable under subparts A, B, D, E, and F of this part, over
(2)
the tentative minimum tax for the taxable year.
(d)

Definitions

For purposes of this section—
(1)

Net minimum tax

(A)

In general

The term “net minimum tax” means the tax imposed by section 55.

(B)

Credit not allowed for exclusion preferences

(i)

Adjusted net minimum tax

The adjusted net minimum tax for any taxable year is—
(I)
the amount of the net minimum tax for such taxable year, reduced by
(II)
the amount which would be the net minimum tax for such taxable year if the only adjustments and items of tax preference taken into account were those specified in clause (ii).
(ii)

Specified items

The following are specified in this clause—
(I)
the adjustments provided for in subsection (b)(1) of section 56, and
(II)
the items of tax preference described in paragraphs (1), (5), and (7) of section 57(a).
(iii)

Credit allowable for exclusion preferences of corporations

In the case of a corporation—
(I)
the preceding provisions of this subparagraph shall not apply, and
(II)
the adjusted net minimum tax for any taxable year is the amount of the net minimum tax for such year.
(2)

Tentative minimum tax

The term “tentative minimum tax” has the meaning given to such term by section 55(b).

(e)

Application to applicable corporations

In the case of a corporation—
(1)
subsection (b)(1) shall be applied by substituting “the net minimum tax for all prior taxable years beginning after 2022” for “the adjusted net minimum tax imposed for all prior taxable years beginning after 1986”, and
(2)
the amount determined under subsection (c)(1) shall be increased by the amount of tax imposed under section 59A for the taxable year.

Pub. L. 99–514, title VII, § 701(b)100 Stat. 2339Pub. L. 100–647, title I, § 1007(g)(4)102 Stat. 3435Pub. L. 101–239, title VII103 Stat. 2373Pub. L. 102–486, title XIX, § 1913(b)(2)(C)106 Stat. 3020Pub. L. 103–66, title XIII107 Stat. 429Pub. L. 104–188, title I110 Stat. 1776Pub. L. 108–357, title IV, § 421(a)(2)118 Stat. 1514Pub. L. 109–58, title XIII, § 1322(a)(3)(G)119 Stat. 1012Pub. L. 109–432, div. A, title IV, § 402(a)120 Stat. 2953Pub. L. 110–172, § 2(a)121 Stat. 2473Pub. L. 110–343, div. C, title I, § 103(a)122 Stat. 3863Pub. L. 111–5, div. B, title I, § 1142(b)(4)123 Stat. 331Pub. L. 113–295, div. A, title II, § 221(a)(8)(A)(i)128 Stat. 4038Pub. L. 115–97, title I131 Stat. 2092Pub. L. 116–136, div. A, title II, § 2305(a)134 Stat. 357Pub. L. 117–169, title I, § 10101(e)136 Stat. 1828(Added , , ; amended , title VI, § 6304(a), , , 3756; , §§ 7612(a)(1), (2), (b)(1), 7811(d)(2), , , 2374, 2408; , , ; , §§ 13113(b)(2), 13171(c), , , 455; , §§ 1205(d)(5), 1704(j)(1), , , 1881; , , ; , , ; , , ; , , ; , (b), , ; , , ; , , ; , §§ 12001(b)(2), 12002(a), (b), , , 2094; , (b), , ; , , .)

Editorial Notes

Prior Provisions

Pub. L. 95–30, title II, § 202(b)91 Stat. 146Pub. L. 95–600, title III, § 321(c)(2)92 Stat. 2835Pub. L. 97–34, title II, § 207(c)(2)95 Stat. 225Pub. L. 97–248, title II, § 201(d)(8)(A)96 Stat. 420Pub. L. 97–448, title III, § 306(a)(1)(A)(i)96 Stat. 240096 Stat. 169396 Stat. 2370Pub. L. 98–21, title I, § 122(c)(1)97 Stat. 87Pub. L. 98–369, div. A, title VII, § 713(c)(1)(C)98 Stat. 957Pub. L. 98–369, div. A, title IV, § 474(p)(8)98 Stat. 838A prior section 53, added , , ; amended , , ; , , ; , formerly § 201(c)(8)(A), and § 265(b)(2)(A)(iii), , , 547, renumbered § 201(d)(8)(A), , , ; 97–354, § 5(a)(12), , ; 97–448, title I, § 102(d)(3), , ; , , ; , , , placed limitations on the amount of credit allowed by former section 44B for employment of certain new employees, prior to repeal by , , , applicable to taxable years beginning after , and to carrybacks from such years.

Amendments

Pub. L. 117–169, § 10101(e)(2)(A)2022—Subsec. (d)(2). , struck out “, except that in the case of a corporation, the tentative minimum tax shall be treated as zero” after “section 55(b)”.

Pub. L. 117–169, § 10101(e)(2)(B)Subsec. (d)(3). , struck out par. (3). Prior to amendment, text read as follows: “In the case of a corporation, any references in this subsection to section 55, 56, or 57 shall be treated as a reference to such section as in effect before the amendments made by Tax Cuts and Jobs Act.”

Pub. L. 117–169, § 10101(e)(1)Subsec. (e). , amended subsec. (e) generally. Prior to amendment, subsec. (e) related to portion of credit treated as refundable.

Pub. L. 116–136, § 2305(a)(1)2020—Subsec. (e)(1). , substituted “2018 or 2019” for “2018, 2019, 2020, or 2021”.

Pub. L. 116–136, § 2305(a)(2)Subsec. (e)(2). , substituted “2019” for “2021” in introductory provisions.

Pub. L. 116–136, § 2305(b)(1)Subsec. (e)(5). , added par. (5).

Pub. L. 115–97, § 12001(b)(2)2017—Subsec. (d)(2). , inserted “, except that in the case of a corporation, the tentative minimum tax shall be treated as zero” before period at end.

Pub. L. 115–97, § 12002(b)Subsec. (d)(3). , added par. (3).

Pub. L. 115–97, § 12002(a)Subsec. (e). , added subsec. (e).

Pub. L. 113–2952014—Subsecs. (e), (f). struck out subsecs. (e) and (f) which related to special rule for individuals with long-term unused credits and treatment of certain underpayments, interest, and penalties attributable to the treatment of incentive stock options, respectively.

Pub. L. 111–5, § 1142(b)(4)(A)2009—Subsec. (d)(1)(B)(iii). , redesignated cl. (iv) as (iii) and struck out former cl. (iii). Prior to amendment, text read as follows: “The adjusted net minimum tax for the taxable year shall be increased by the amount of the credit not allowed under section 30 solely by reason of the application of section 30(b)(3)(B).”

Pub. L. 111–5, § 1142(b)(4)(B)Subsec. (d)(1)(B)(iii)(II). , struck out “increased in the manner provided in clause (iii)” before period.

Pub. L. 111–5, § 1142(b)(4)(A)Subsec. (d)(1)(B)(iv). , redesignated cl. (iv) as (iii).

Pub. L. 110–343, § 103(a)2008—Subsec. (e)(2). , reenacted heading without change and amended text generally. Prior to amendment, par. (2) defined “AMT refundable credit amount” and provided for phaseout of AMT refundable credit amount based on adjusted gross income.

Pub. L. 110–343, § 103(b)Subsec. (f). , added subsec. (f).

Pub. L. 110–1722007—Subsec. (e)(2)(A). reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘AMT refundable credit amount’ means, with respect to any taxable year, the amount equal to the greater of—

“(i) the lesser of—

“(I) $5,000, or

“(II) the amount of long-term unused minimum tax credit for such taxable year, or

“(ii) 20 percent of the amount of such credit.”

Pub. L. 109–4322006—Subsec. (e). added subsec. (e).

Pub. L. 109–582005—Subsec. (d)(1)(B)(iii). struck out “under section 29 (relating to credit for producing fuel from a nonconventional source) solely by reason of the application of section 29(b)(6)(B), or not allowed” before “under section 30”.

Pub. L. 108–3572004—Subsec. (d)(1)(B)(i)(II). struck out “and if section 59(a)(2) did not apply” before period at end.

Pub. L. 104–188, § 1205(d)(5)(A)1996—Subsec. (d)(1)(B)(iii). , which directed that cl. (iii) be amended by striking out “or not allowed under section 28 solely by reason of the application of section 28(d)(2)(B),” was executed by striking out “not allowed under section 28 solely by reason of the application of section 28(d)(2)(B),” after “29(b)(6)(B),”, to reflect the probable intent of Congress.

Pub. L. 104–188, § 1704(j)(1)Subsec. (d)(1)(B)(iv)(II). , amended subcl. (II) generally. Prior to amendment, subcl. (II) read as follows: “the adjusted net minimum tax for any taxable year is the amount of the net minimum tax for such year increased by the amount of any credit not allowed under section 29 solely by reason of the application of section 29(b)(5)(B) or not allowed under section 28 solely by reason of the application of section 28(d)(2)(B).”

Pub. L. 104–188, § 1205(d)(5)(B)Pub. L. 104–188, § 1704(j)(1)section 1701 of Pub. L. 104–188section 1 of this titlesection 1205(d)(5)(B) of Pub. L. 104–188, which directed that subcl. (II) be amended by striking out “or not allowed under section 28 solely by reason of the application of section 28(d)(2)(B)”, could not be executed because the phrase sought to be struck out did not appear in text subsequent to the general amendment of subcl. (II) by , see above, which, pursuant to , set out as a note under , is treated as having been enacted before .

Pub. L. 103–66, § 13171(c)1993—Subsec. (d)(1)(B)(ii)(II). , substituted “(5), and (7)” for “(5), (6), and (8)”.

Pub. L. 103–66, § 13113(b)(2), substituted “(6), and (8)” for “and (6)”.

Pub. L. 102–486, § 1913(b)(2)(C)(i)1992—Subsec. (d)(1)(B)(iii). , substituted “section 29(b)(6)(B),” for “section 29(b)(5)(B) or”.

Pub. L. 102–486, § 1913(b)(2)(C)(ii), inserted before period at end “, or not allowed under section 30 solely by reason of the application of section 30(b)(3)(B)”.

Pub. L. 101–239, § 7811(d)(2)1989—Subsec. (d)(1)(B)(i)(II). , inserted before period at end “and if section 59(a)(2) did not apply”.

Pub. L. 101–239, § 7612(a)(2)Subsec. (d)(1)(B)(ii). , substituted “subsection (b)(1)” for “subsections (b)(1) and (c)(3)” in subcl. (I) and struck out at end “In the case of taxable years beginning after 1989, the adjustments provided in section 56(g) shall be treated as specified in this clause to the extent attributable to items which are excluded from gross income for any taxable year for purposes of the regular tax, or are not deductible for any taxable year under the adjusted current earnings method of section 56(g).”

Pub. L. 101–239, § 7612(b)(1)Subsec. (d)(1)(B)(iii). , which directed amendment of cl. (iii) by inserting “or not allowed under section 28 solely by reason of the application of section 28(d)(2)(B)” after “section 29(d)(5)(B)”, was executed by making the insertion after “section 29(b)(5)(B)”, as the probable intent of Congress.

Pub. L. 101–239, § 7612(b)(1)Subsec. (d)(1)(B)(iv). , which directed amendment of cl. (iv) by inserting “or not allowed under section 28 solely by reason of the application of section 28(d)(2)(B)” after “section 29(d)(5)(B)”, was executed by making the insertion after “section 29(b)(5)(B)” in subcl. (II), as the probable intent of Congress.

Pub. L. 101–239, § 7612(a)(1), added cl. (iv).

Pub. L. 100–647, § 1007(g)(4)1988—Subsec. (d)(1)(B)(ii). , substituted “current earnings” for “earnings and profits” in last sentence.

Pub. L. 100–647, § 6304(a)Subsec. (d)(1)(B)(iii). , added cl. (iii).

Statutory Notes and Related Subsidiaries

Effective Date of 2022 Amendment

Pub. L. 117–169section 10101(f) of Pub. L. 117–169section 11 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Effective Date of 2020 Amendment

Pub. L. 116–136, div. A, title II, § 2305(c)134 Stat. 357

“The amendments made by this section [amending this section] shall apply to taxable years beginning after .”
, , , provided that:

Effective Date of 2017 Amendment

section 12001(b)(2) of Pub. L. 115–97section 12001(c) of Pub. L. 115–97section 11 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Pub. L. 115–97, title I, § 12002(d)131 Stat. 2095

“(1)

In general .—

section 1374 of this titleThe amendments made by this section [amending this section and ] shall apply to taxable years beginning after .
“(2)

Conforming amendment .—

section 1374 of this titleThe amendment made by subsection (c) [amending ] shall apply to taxable years beginning after .”
, , , provided that:

Effective Date of 2014 Amendment

Pub. L. 113–295section 221(b) of Pub. L. 113–295section 1 of this titleAmendment by effective , subject to a savings provision, see , set out as a note under .

Effective Date of 2009 Amendment

Pub. L. 111–5section 1142(c) of Pub. L. 111–5section 24 of this titleAmendment by applicable to vehicles acquired after , see , set out as an Effective and Termination Dates of 2009 Amendment note under .

Effective Date of 2008 Amendment

Pub. L. 110–343, div. C, title I, § 103(c)122 Stat. 3864

“(1)

In general .—

Except as provided in paragraph (2), the amendments made by this section [amending this section] shall apply to taxable years beginning after .
“(2)

Abatement .—

Section 53(f)(1), as added by subsection (b), shall take effect on the date of the enactment of this Act [].”
, , , provided that:

Effective Date of 2007 Amendment

Pub. L. 110–172, § 2(b)121 Stat. 2474

Pub. L. 109–432“The amendment made by this section [amending this section] shall take effect as if included in the provision of the Tax Relief and Health Care Act of 2006 [] to which it relates.”
, , , provided that:

Effective Date of 2006 Amendment

Pub. L. 109–432, div. A, title IV, § 402(c)120 Stat. 2954

section 6211 of this titlesection 1324 of Title 31“The amendments made by this section [amending this section, , and , Money and Finance] shall apply to taxable years beginning after the date of the enactment of this Act [].”
, , , provided that:

Effective Date of 2005 Amendment

Pub. L. 109–58section 1322(c)(1) of Pub. L. 109–58section 45K of this titleAmendment by applicable to credits determined under the Internal Revenue Code of 1986 for taxable years ending after , see , set out as a note under .

Effective Date of 2004 Amendment

Pub. L. 108–357, title IV, § 421(b)118 Stat. 1514

section 59 of this title“The amendments made by this section [amending this section and ] shall apply to taxable years beginning after .”
, , , provided that:

Effective Date of 1996 Amendment

section 1205(d)(5) of Pub. L. 104–188section 1205(e) of Pub. L. 104–188section 45K of this titleAmendment by applicable to amounts paid or incurred in taxable years ending after , see , set out as a note under .

Pub. L. 104–188, title I, § 1704(j)(1)110 Stat. 1881, , , provided that the amendment made by that section is effective with respect to taxable years beginning after .

Effective Date of 1993 Amendment

Pub. L. 103–66, title XIII, § 13113(e)107 Stat. 430

section 1202 of this title“The amendments made by this section [enacting and amending this section and sections 57, 172, 642, 643, 691, 871, and 6652 of this title] shall apply to stock issued after the date of the enactment of this Act [].”
, , , provided that:

Pub. L. 103–66, title XIII, § 13171(d)107 Stat. 455

“The amendments made by this section [amending this section and sections 56 and 57 of this title] shall apply to contributions made after , except that in the case of any contribution of capital gain property which is not tangible personal property, such amendments shall apply only if the contribution is made after .”
, , , provided that:

Effective Date of 1992 Amendment

Pub. L. 104–188, title I, § 1702(e)(5)110 Stat. 1870

Pub. L. 102–486“The amendment made by section 1913(b)(2)(C)(i) of the Energy Policy Act of 1992 [] shall apply to taxable years beginning after .”
, , , provided that:

Pub. L. 102–486, title XIX, § 1913(c)106 Stat. 3020

“The amendments made by this section [enacting sections 30 and 179A of this title and amending this section and sections 55, 62, and 1016 of this title] shall apply to property placed in service after .”
, , , provided that:

Effective Date of 1989 Amendment

Pub. L. 101–239, title VII, § 7612(a)(3)103 Stat. 2373

“The amendments made by this subsection [amending this section] shall apply for purposes of determining the adjusted net minimum tax for taxable years beginning after .”
, , , provided that:

Pub. L. 101–239, title VII, § 7612(b)(2)103 Stat. 2374

“The amendment made by paragraph (1) [amending this section] shall apply for purposes of determining the amount of the minimum tax credit for taxable years beginning after ; except that, for such purposes, section 53(b)(1) of the Internal Revenue Code of 1986 shall be applied as if such amendment had been in effect for all prior taxable years.”
, , , provided that:

section 7811(d)(2) of Pub. L. 101–239Pub. L. 100–647section 7817 of Pub. L. 101–239section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, , to which such amendment relates, see , set out as a note under .

Effective Date of 1988 Amendment

section 1007(g)(4) of Pub. L. 100–647Pub. L. 99–514section 1019(a) of Pub. L. 100–647section 1 of this titleAmendment by effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, , to which such amendment relates, see , set out as a note under .

Pub. L. 100–647, title VI, § 6304(b)102 Stat. 3756

Pub. L. 99–514“The amendment made by this section [amending this section] shall take effect as if included in the amendments made by section 701 of the Tax Reform Act of 1986 [].”
, , , provided that:

Effective Date

section 701(f) of Pub. L. 99–514section 55 of this titleSection applicable to taxable years beginning after , with certain exceptions and qualifications, see , set out as an Effective Date of 1986 Amendment note under .

Pub. L. 99–514Applicability of Certain Amendments by in Relation to Treaty Obligations of United States

section 701(b) of Pub. L. 99–514Pub. L. 100–647Pub. L. 99–514Pub. L. 100–647section 861 of this titleFor applicability of amendment by [enacting this section] notwithstanding any treaty obligation of the United States in effect on , with provision that for such purposes any amendment by title I of be treated as if it had been included in the provision of to which such amendment relates, see section 1012(aa)(2), (4) of , set out as a note under .

Construction

Pub. L. 113–295, div. A, title II, § 221(a)(8)(A)(ii)128 Stat. 4038

“The amendment made by clause (i) striking subsection (f) of section 53 of the Internal Revenue Code of 1986 shall not be construed to allow any tax abated by reason of section 53(f)(1) of such Code (as in effect before such amendment) to be included in the amount determined under section 53(b)(1) of such Code.”
, , , provided that:

Special Rule

Pub. L. 116–136, div. A, title II, § 2305(d)134 Stat. 357

“(1)

In general .—

For purposes of the Internal Revenue Code of 1986, a credit or refund for which an application described in paragraph (2)(A) is filed shall be treated as made under section 6411 of such Code.
“(2)

Tentative refund.—

“(A)

Application .—

A taxpayer may file an application for a tentative refund of any amount for which a refund is due by reason of an election under section 53(e)(5) of the Internal Revenue Code of 1986. Such application shall be in such manner and form as the Secretary of the Treasury (or the Secretary’s delegate) may prescribe and shall—
“(i)
be verified in the same manner as an application under section 6411(a) of such Code,
“(ii)
be filed prior to , and
“(iii)
set forth—
“(I)
the amount of the refundable credit claimed under section 53(e) of such Code for such taxable year,
“(II)
the amount of the refundable credit claimed under such section for any previously filed return for such taxable year, and
“(III)
the amount of the refund claimed.
“(B)

Allowance of adjustments .—

Within a period of 90 days from the date on which an application is filed under subparagraph (A), the Secretary of the Treasury (or the Secretary’s delegate) shall—
“(i)
review the application,
“(ii)
determine the amount of the overpayment, and
“(iii)
apply, credit, or refund such overpayment,
in a manner similar to the manner provided in section 6411(b) of the Internal Revenue Code of 1986.
“(C)

Consolidated returns .—

The provisions of section 6411(c) of the Internal Revenue Code of 1986 Code shall apply to an adjustment under this paragraph to the same extent and manner as the Secretary of the Treasury (or the Secretary’s delegate) may provide.”
, , , provided that: