PUBLIC LAW 109–135—DEC. 21, 2005
119 STAT. 2619
(11)(A) Paragraph (6) of section 199(d) is amended to read as follows: ‘‘(6) COORDINATION WITH MINIMUM TAX.—For purposes of determining alternative minimum taxable income under section 55— ‘‘(A) qualified production activities income shall be determined without regard to any adjustments under sections 56 through 59, and ‘‘(B) in the case of a corporation, subsection (a)(1)(B) shall be applied by substituting ‘alternative minimum taxable income’ for ‘taxable income’.’’. (B) Paragraph (2) of section 199(a) is amended by striking ‘‘subsections (d)(1) and (d)(6)’’ and inserting ‘‘subsection (d)(1)’’. (12) Subsection (d) of section 199 is amended by redesignating paragraph (7) as paragraph (8) and by inserting after paragraph (6) the following new paragraph: ‘‘(7) UNRELATED BUSINESS TAXABLE INCOME.—For purposes of determining the tax imposed by section 511, subsection (a)(1)(B) shall be applied by substituting ‘unrelated business taxable income’ for ‘taxable income’.’’. (13) Paragraph (8) of section 199(d), as redesignated by paragraph (12), is amended by inserting ‘‘, including regulations which prevent more than 1 taxpayer from being allowed a deduction under this section with respect to any activity described in subsection (c)(4)(A)(i)’’ before the period at the end. (14) Clauses (i)(II) and (ii)(II) of section 56(d)(1)(A) are each amended by striking ‘‘such deduction’’ and inserting ‘‘such deduction and the deduction under section 199’’. (15) Clause (i) of section 163(j)(6)(A) is amended by striking ‘‘and’’ at the end of subclause (II), by redesignating subclause (III) as subclause (IV), and by inserting after subclause (II) the following new subclause: ‘‘(III) any deduction allowable under section 199, and’’. (16) Paragraph (2) of section 170(b) is amended by redesignating subparagraphs (C) and (D) as subparagraphs (D) and (E), respectively, and by inserting after subparagraph (B) the following new subparagraph: ‘‘(C) section 199,’’. (17) Subsection (d) of section 172 is amended by adding at the end the following new paragraph: ‘‘(7) MANUFACTURING DEDUCTION.—The deduction under section 199 shall not be allowed.’’. (18) Paragraph (1) of section 613A(d) is amended by redesignating subparagraphs (B), (C), and (D) as subparagraphs (C), (D), and (E), respectively, and by inserting after subparagraph (A) the following new subparagraph: ‘‘(B) any deduction allowable under section 199,’’. (19) Subsection (e) of section 102 of the American Jobs Creation Act of 2004 is amended to read as follows: ‘‘(e) EFFECTIVE DATE.— ‘‘(1) IN GENERAL.—The amendments made by this section shall apply to taxable years beginning after December 31, 2004. ‘‘(2) APPLICATION TO PASS-THRU ENTITIES, ETC.—In determining the deduction under section 199 of the Internal Revenue Code of 1986 (as added by this section), items arising from
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26 USC 199.
Applicability.
26 USC 56 note.
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