taxable year determined without regard to this paragraph, and (II) the amounts which, by reason of this paragraph, are carried to such taxable year and are attributable to taxable years before the unused amount. (3) Separate application to each possession For purposes of determining the amount of the credit allowed under this section, this section shall be applied separately with respect to each possession. . (b) Conforming amendments (1) Section 904(b) of the Internal Revenue Code of 1986 is amended by redesignating paragraph (4) as paragraph (5) and by inserting after paragraph (3) the following new paragraph: (4) Coordination with section 30E For purposes of subsection (a), in the case of a qualified domestic corporation described in section 30E(b)(1)(A), the taxable income shall not include any portion thereof taken into account for purposes of the credit (if any) allowed by section 30E (without regard to subsection (c) thereof). . (2) Section 904(f)(1) of such Code is amended by inserting and section 30E after For purposes of this subpart . (3) Section 904(g)(1) of such Code is amended by striking section 936 and inserting section 30E . (4) The table of sections for subpart B of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following: Sec. 30E. Possession economic activity credit. . (c) Treatment of credit under BEAT Section 59A(b)(1)(B)(ii) of the Internal Revenue Code of 1986 is amended by redesignating subclause (II) as subclause (III) and by inserting after subclause (I) the following new subclause: (II) the credit allowed under section 30E, plus . (d) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.