(1) The credit available under 15-31-124 through 15-31-127 , MCA, may be claimed for the taxable year the activity for which credit is claimed occurred. Credit may not be accumulated, and if a corporation does not claim credit for which it is eligible during a taxable year, that credit is lost.

(2) Eligibility for the tax credit expires with the corporation's taxable year.

(3) A corporation may use the credit available under 15-31-124 through 15-31-127 , MCA, only when the corporation actually manufactures products in this state. No claim will be recognized if a corporation completes all preparatory phases without manufacturing a product.