§ 11-602.1 Application of this subchapter.
AC § 11-602.1
1.For taxable years beginning on or after January first, two thousand fifteen, the tax imposed under this subchapter shall only apply to a corporation that (a) has an election in effect under subsection (a) of section thirteen hundred sixty-two of the internal revenue code of 1986, as amended, or (b) is a qualified subchapter S subsidiary within the meaning of paragraph three of subsection (b) of section thirteen hundred sixty-one of the internal revenue code of 1986, as amended.
2.For taxable years beginning on or after January first, two thousand fifteen, the tax imposed under this subchapter shall not apply to a corporation that is not described in subdivision one of this section except to the extent provided in subchapter three-A of this chapter.
3.Cross-reference. For the taxation of corporations that are not described in subdivision one of this section, that were taxable under this subchapter for tax years beginning before January first, two thousand fifteen, see subchapter three-A of this chapter.
