(1) In the event that any person subject to a tax under § 19-1502(1)(c) and who is entitled to a credit pursuant to § 19-1506 does not totally exhaust such credit against tax liability incurred pursuant to § 19-1502(1)(c). The remaining credit may be applied against taxes owed pursuant to this chapter.

(2) The credit provided pursuant to this Section relates to the following tax year;

(a) When a return is made for a fiscal year corresponding to the calendar year, the same calendar year as that which is used as the measuring period for computing net income subject to the tax imposed under Chapter 19-2600 of this Title on which the credit is based.

(b) When a return is made for a fiscal year other than a calendar year, the fiscal year which ends within the calendar year for which the tax imposed under Chapter 19-2600 of this Title is paid, and on which the credit is based.

(3) Nothing in this Section shall permit credits to be charged against any given tax year in excess of the amount of tax due under § 19-2803 for that tax year.