TITLE 44
Taxation

CHAPTER 44-55
Tax Incentives for Employers

SECTION 44-55-4


   § 44-55-4  Criteria for tax incentives. – (a) A business whose employees each meet the following criteria as certified by the department of labor and training shall be entitled to an incentive in the amount of forty percent (40%) of the eligible employee's first year wages, up to a maximum of two thousand four hundred dollars ($2,400) per eligible employee:

   (1) The hired employee shall attest and must have been unemployed for a period of at least twenty-six (26) consecutive calendar weeks immediately prior to employment with the claimant business; and

   (2) The employee must have been in the employ of the claimant business for a minimum period of fifty-two (52) consecutive calendar weeks, and a minimum of one thousand eight hundred twenty (1,820) hours of paid employment before the employer can become eligible for the incentive.

   (b) The incentive shall be applied only once for any given employee. The employee must be a first time hiree of the claimant business and not have worked for any company that subsequently merges with or is acquired by the business. Also, any employee whicha business leases does not qualify for this incentive.

   (c) In order to avail itself of the incentive, the business must file for the incentive for the employee with the department of labor and training within thirty (30) days from the first day the employee begins work. The department of labor and training shall notify the business as soon as practicable after the completion of certification pursuant to the provisions of this section and § 44-55-4.1.

   (d) The employee cannot be a relative of any controlling shareholder, director, or officer of the claimant corporation, nor controlling shareholder, officer, or manager of the claimant limited liability company, nor partner or owner of any claimant partnership, joint venture, sole proprietorship or any other type of legal business entity claiming the incentive under this chapter.

History of Section.
(P.L. 1997, ch. 362, § 1.)