compensated employee The term non-highly compensated employee means, with respect to an employer, an employee whose— (A) compensation (as such term is defined in section 415(c)(3)) from such employer for services provided for the taxable year does not exceed $82,000, and (B) rate of compensation, if applied to a full-time employee for a year, would not exceed $82,000. (c) Special rules (1) Special rule in case of no qualified training expenditures in any of 3 preceding taxable years (A) Taxpayers to which paragraph applies The credit under this section shall be determined under this paragraph if the taxpayer has no qualified training expenditures in any one of the 3 taxable years preceding the taxable year for which the credit is being determined. (B) Credit rate The credit determined under this paragraph shall be equal to 10 percent of the adjusted qualified training expenditures for the taxable year. (2) Aggregation and allocation of expenditures, etc In determining the amount of the credit under this section, rules similar to the rules of paragraphs (1), (2), (3), (4), and (5) of section 41(f) shall apply. (d) Election To apply credit against payroll taxes (1) In general At the election of a qualified small business (as defined in section 41(h)) or a qualified tax-exempt organization (as defined in section 3111(e)(5)(A)) for any taxable year, section 3111(g) shall apply to the payroll tax credit portion of the credit otherwise determined under subsection (a) for the taxable year and such portion shall not be treated (other than for purposes of section 280C) as a credit determined under subsection (a). (2) Payroll tax credit portion For purposes of this subsection, the payroll tax credit portion of the credit determined under subsection (a) with respect to any taxpayer for any taxable year is the least of— (A) the amount specified in the election made under this subsection, (B) the credit determined under subsection (a) for the taxable year (determined before the application of this subsection), or (C) in the