(a) (1) The term âtaxâ includes any of the following: (A) The tax imposed under Chapter 2 (commencing with Section 23101). (B) The tax imposed under Chapter 3 (commencing with Section 23501). (C) The tax on unrelated business taxable income, imposed under Section 23731. (D) The tax on âSâ corporations imposed under Section 23802. (2) The term âtaxâ does not include any amount imposed under paragraph (1) of subdivision (e) of Section 24667 or paragraph (2) of subdivision (f) of Section 24667. (b) For purposes of Article 5 (commencing with Section 18661) of Chapter 2, Article 3 (commencing with Section 19031) of Chapter 4, Article 6 (commencing with Section 19101) of Chapter 4, and Chapter 7 (commencing with Section 19501) of Part 10.2, and, for purposes of Sections 18601, 19001, and 19005, the term âtaxâ also includes all of the following: (1) The tax on limited partnerships, imposed under Section 17935, the tax on limited liability companies, imposed under Section 17941, and the tax on registered limited liability partnerships and foreign limited liability partnerships imposed under Section 17948. (2) The alternative minimum tax imposed under Chapter 2.5 (commencing with Section 23400). (3) The tax on built-in gains of âSâ corporations, imposed under Section 23809. (4) The tax on excess passive investment income of âSâ corporations, imposed under Section 23811. (c) Notwithstanding any other provision of this part, credits are allowed against the âtaxâ in the following order: (1) Credits that do not contain carryover provisions. (2) Credits that, when the credit exceeds the âtax,â allow the excess to be carried over to offset the âtaxâ in succeeding taxable years, except for those credits that are allowed to reduce the âtaxâ below the tentative minimum tax, as defined by Section 23455. The order of credits within this paragraph shall be determined by the Franchise Tax Board. (3) The minimum tax credit allowed by Section 23453. (4) Credits that are allowed to reduce the âtaxâ below the tentative minimum tax, as defined by Section 23455, except the credit described in paragraph (5). (5) For taxable years beginning on or after January 1, 2025, the credit allowed by Section 23698.1. (6) For taxable years beginning on or after January 1, 2027, the credit allowed by Section 23036.5. (7) Credits for taxes withheld under Section 18662. (d) Notwithstanding any other provision of this part, each of the following applies: (1) A credit may not reduce the âtaxâ below the tentative minimum tax (as defined by paragraph (1) of subdivision (a) of Section 23455), except the following credits: (A) The credit allowed by former Section 23601 (relating to solar energy). (B) The credit allowed by former Section 23601.4 (relating to solar energy). (C) The credit allowed by former Section 23601.5 (relating to solar energy). (D) The credit allowed by Section 23609 (relating to research expenditures). (E) The credit allowed by former Section 23609.5 (relating to clinical testing expenses). (F) The credit allowed by Section 23610.5 (relating to low-income housing). (G) The credit allowed by former Section 23612 (relating to sales and use tax credit). (H) The credit allowed by Section 23612.2 (relating to enterprise zone sales or use tax credit). (I) The credit allowed by former Section 23612.6 (relating to Los Angeles Revitalization Zone sales tax credit). (J) The credit allowed by former Section 23622 (relating to enterprise zone hiring credit). (K) The credit allowed by Section 23622.7 (relating to enterprise zone hiring credit). (L) The credit allowed by former Section 23623 (relating to program area hiring credit). (M) The credit allowed by former Section 23623.5 (relating to Los Angeles Revitalization Zone hiring credit). (N) The credit allowed by former Section 23625 (relating to Los Angeles Revitalization Zone hiring credit). (O) The credit allowed by Section 23633 (relating to targeted tax area sales
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