2022 District of Columbia Code
Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
Chapter 18 - Income and Franchise Taxes
Subchapter XVII - Qualified High Technology Companies
§ 47–1817.03. 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.

(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. 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.)

This section is referenced in § 47-1818.01 and § 47-1818.06.

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).