§ 47-1817-03

03. Tax credit to Qualified High Technology Companies for wages to qualified employees; exceptions. (a) Except as provided in subsection (b) of this section, for taxable years beginning after December 31, 2000, and ending on December 31, 2019, a Qualified High Technology Company shall be allowed a credit against the tax imposed by § 47-1807.02 equal to 10% of the wages paid during the first 24 calendar months of employment to a qualified employee hired after December 31, 2000. (a-1) Except as provided in subsection (b) of this section, for taxable years beginning after December 31, 2019, a Qualified High Technology Company shall be allowed a credit against the tax imposed by § 47-1807.02 equal to 5% of the wages paid during the first 24 calendar months of employment to a qualified employee hired after December 31, 2017. (b) The credit under subsections (a) and (a-1) of this section shall not be allowed: (1) To exceed, for each qualified employee: (A) $5,000 in a taxable year for the credit under subsection (a) of this section. (B) $3,000 in a taxable year for the credit under subsection (a-1) of this section.

eed, for each qualified employee: (A) $5,000 in a taxable year for the credit under subsection (a) of this section. (B) $3,000 in a taxable year for the credit under subsection (a-1) of this section. (2) If the Qualified High Technology Company accords the qualified employee lesser benefits or rights than it accords other employees in similar jobs; (3) If the qualified employee was employed as the result of: (A) The displacement, other than for cause, of another employee; (B) A strike or lockout; (C) A layoff in which other employees are awaiting recall; or (D) A reduction of the regular wages, benefits, or rights of other employees in similar jobs; or (4) If the qualified employee is a member of the board of directors of the Qualified High Technology Company or, directly or indirectly, owns a majority of its stock. (c) A credit allowable under this section may be carried forward for 10 years if: (1) The amount of the credit allowable under this section exceeds the tax otherwise due from a Qualified High Technology Company; and (2) The amount of the credit allowable under this section was obtained for wages of a qualified employee hired before October 1, 2019. (Apr. 3, 2001, D.C.

rom a Qualified High Technology Company; and (2) The amount of the credit allowable under this section was obtained for wages of a qualified employee hired before October 1, 2019. (Apr. 3, 2001, D.C. Law 13-256, § 202(b), 48 DCR 730; Sept. 11, 2019, D.C. Law 23-16, § 7212(a)(1), 66 DCR 8621; Dec. 3, 2020, D.C. Law 23-149, § 7152(b)(4), 67 DCR 10493.) Section References This section is referenced in § 47-1818.01 and § 47-1818.06. Emergency Legislation For temporary (90 days) amendment of this section, see § 7212(a)(1) of Fiscal Year 2020 Budget Support Congressional Review Emergency Act of 2019 (D.C. Act 23-112, Sept. 4, 2019, 66 DCR 11964). For temporary (90 days) amendment of this section, see § 7212(a)(1) of Fiscal Year 2020 Budget Support Emergency Act of 2019 (D.C. Act 23-91, July 22, 2019, 66 DCR 8497).