(a) A taxable entity is not eligible for a credit on a report against the tax imposed under this chapter for qualified research expenses incurred during the period on which the report is based if the taxable entity, or a member of the combined group if the taxable entity is a combined group, received an exemption under § 151.3182 during that period.
(b) A taxable entity’s ineligibility under this section for a credit on a report for the period on which the report is based does not affect the taxable entity’s eligibility to claim a carryforward of unused credit under § 171.659 on that report.