such person employed not more than 100 full-time employees during the preceding taxable year. For purposes of subparagraph (B), an employee shall be considered full-time if such employee is employed at least 30 hours per week for 20 or more calendar weeks in the taxable year. (4) Underserved community The term underserved community means any area located within— (A) a HUBZone (as defined in section 3(p) of the Small Business Act ( 15 U.S.C. 632(p) )), (B) an empowerment zone, or enterprise community, designated under section 1391 (and without regard to whether or not such designation remains in effect), (C) an area of low income or moderate income (as recognized by the Federal Financial Institutions Examination Council), or (D) a county with persistent poverty (as classified by the Economic Research Service of the Department of Agriculture). (5) Veteran or spouse of veteran The term veteran or spouse of a veteran has the meaning given such term by section 7(a)(31)(G)(iii) of the Small Business Act ( 15 U.S.C. 636(a)(31)(G)(iii) ). (c) Qualified start-Up expenditures For purposes of this section— (1) In general The term qualified start-up expenditures means— (A) any start-up expenditures (as defined in section 195(c)), or (B) any amounts paid or incurred during the taxable year for the purchase or lease of real property, or the purchase of personal property, placed in service during the taxable year and used in the active conduct of a trade or business. (d) Special rules For purposes of this section— (1) Year of election The taxpayer may elect the application of this section only for the first 2 taxable years for which ordinary and necessary expenses paid or incurred in carrying on such trade or business are allowable as a deduction by the taxpayer under section 162. (2) Controlled groups and common control All persons treated as a single employer under subsections (a) and (b) of section 52 shall be treated as 1 person. (3) No double benefit If a credit is determined under this section with respect to any