For purposes of section 38, the employer social security credit determined under this section for the taxable year is an amount equal to the excess employer social security tax paid or incurred by the taxpayer during the taxable year.
In applying paragraph (1), there shall be taken into account only tips received from customers in connection with the providing, delivering, or serving of food or beverages for consumption if the tipping of employees delivering or serving food or beverages by customers is customary.
No deduction shall be allowed under this chapter for any amount taken into account in determining the credit under this section.
This section shall not apply to a taxpayer for any taxable year if such taxpayer elects to have this section not apply for such taxable year.