|
|
|
|
|
|
|
|
|
|
|
|
|
1946 LAWS OF MARYLAND Ch. 597
absence of a federal act, meets the criteria that the Secretary
of Economic and Community Development shall adopt to identify the
economically disadvantaged;
2. Was hired by the business entity
subsequent to the date on which the enterprise zone was
designated or the date on which the business entity became
located in the enterprise zone, whichever is later; and
3. Was not hired to replace an individual
who was employed by the business entity in that or any previous
taxable year; and
(ii) A credit equal to an amount not exceeding
$500 of the wages paid to each qualified employee not meeting the
criterion of subparagraph (i)l. who:
1. Was hired by the business entity after
the date on which the enterprise zone was designated or the date
on which the business entity became located in the enterprise
zone, whichever is later; and
2. Was not hired to replace an individual
who was employed by the business entity in that or any previous
taxable year.
(2) For each taxable year succeeding the taxable year
described in paragraph (1) above so long as the area is
designated an enterprise zone:
(i) A credit equal to an amount not exceeding
$1,500 of the wages paid to each qualified employee meeting the
criterion of paragraph (l)(i)l. provided that such qualified
employee became a qualified employee during the taxable year to
which the credit applies and was not hired to replace an
individual who was employed by the business entity in that or any
preceding taxable year, except that if such qualified employee
was hired to replace a qualified employee with respect to which
the business entity received a credit under paragraphs (l)(i) or
(2)(ii) in the immediately preceding taxable year, the business
entity may treat such new qualified employee as though he were
the replaced qualified employee for purposes of determining any
credit that may be available to the business entity under
paragraphs (2)(ii) or (2)(iii)l.; and
(ii) A credit equal to an amount not exceeding
$1,000 of the wages paid to each qualified employee meeting the
criterion of paragraph (l)(i)l., provided that the business
entity received a credit under paragraph (l)(i) with respect to
such qualified employee in the immediately preceding taxable
year; and
(iii) A credit equal to an amount not exceeding
$500 of the wages paid to each qualified employee:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
