(a) Special corporations engaged in manufacturing that are not enjoying tax exemption under tax or industrial incentive laws, shall be entitled to choose one of the two (2) following deductions:(1) Special corporations whose net income not assigned to the collective reserve account and the social fund, and which has not been capitalized, exceeds two hundred thousand dollars ($200,000), and which has maintained an average employment or working position for regular members of twenty (20) or more persons during such taxable year, may deduct the first forty thousand dollars ($40,000) of said income from credit notices for productivity and patronage ratably distributed to their regular and special members that have not been capitalized, as applicable, so that said amount may be fully exempt from the payment of income tax.(2) Special corporations which for any taxable year derive total net income of less than twenty thousand dollars ($20,000) per job or working position for regular production members, may take a deduction equal to fifteen percent (15%) of their payroll or total production income advances, up to a maximum of fifty percent (50%) of the credit notices for productivity and

on members, may take a deduction equal to fifteen percent (15%) of their payroll or total production income advances, up to a maximum of fifty percent (50%) of the credit notices for productivity and patronage distributed during the taxable year to its regular and special members, as applicable. History —Jan. 31, 2011, No. 1, § 1113.18, retroactive to Jan. 1, 2011.