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1947
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HARRY HUGHES, Governor
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1. Meeting the criterion of paragraph
(l)(i)l., provided that the business entity received a credit
under paragraphs (l)(i) and (2)(ii) with respect to such
qualified employee in the 2 immediately preceding taxable years;
or
2. Meeting the criteria of paragraph
(l)(ii), provided that such qualified employee became a qualified
employee during the taxable year to which the credit applies and
was not hired for the purpose of replacing an individual who was
employed by the business entity in that or any preceding taxable
year.]
(B) ANY BUSINESS ENTITY WHICH LOCATES IS LOCATED IN AN
ENTERPRISE ZONE AND SATISFIES THE REQUIREMENTS OF SECTION 266KK-4
OF ARTICLE 41 SHALL RECEIVE THE FOLLOWING CREDITS AGAINST THE TAX
IMPOSED BY SECTION 288 OF THIS ARTICLE.
(1) FOR THE TAXABLE YEAR THAT COMMENCES IMMEDIATELY
FOLLOWING THE TAXABLE YEAR IN WHICH THE BUSINESS ENTITY SATISFIES
THE REQUIREMENTS OF SECTION 266KK-4 OF ARTICLE 41, A CREDIT SHALL
BE GRANTED OF:
(I) UP TO $1,500 OF THE WAGES PAID IN THE
TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED TO EACH QUALIFIED
EMPLOYEE WHO:
1. IS AN ECONOMICALLY DISADVANTAGED
INDIVIDUAL; AND
2. IS NOT HIRED TO REPLACE AN INDIVIDUAL
WHO WAS EMPLOYED BY THE BUSINESS ENTITY IN THAT OR ANY PREVIOUS
TAXABLE YEAR; AND
(II) UP TO $500 OF THE WAGES PAID IN THE
TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED TO EACH QUALIFIED
EMPLOYEE WHO:
1. IS NOT AN ECONOMICALLY DISADVANTAGED
INDIVIDUAL; AND
2. IS 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 AFTER THE TAXABLE YEAR
DESCRIBED IN PARAGRAPH (1) OF THIS SUBSECTION, WHILE THE AREA IS
DESIGNATED AN ENTERPRISE ZONE, A CREDIT SHALL BE GRANTED:
(I) UP TO $1,500 OF THE WAGES PAID IN THE
TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED TO EACH QUALIFIED
EMPLOYEE WHO:
1. IS AN ECONOMICALLY DISADVANTAGED
INDIVIDUAL, AND BECAME A QUALIFIED EMPLOYEE DURING THE TAXABLE
YEAR TO WHICH THE CREDIT APPLIES;
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