2005 Idaho Code - 63-2905 — ADDITIONAL INCOME TAX CREDIT FOR NEW JOBS

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 29
            THE IDAHO CORPORATE HEADQUARTERS INCENTIVE ACT OF 2005
    63-2905.  ADDITIONAL INCOME TAX CREDIT FOR NEW JOBS. (1) Subject to the
limitations of this chapter, for taxable years beginning on or after January
1, 2005, and before December 31, 2009, a taxpayer who has certified that the
tax incentive criteria will be met within a project site during a project
period shall, for the number of new employees earning more than a rate of
twenty-four dollars and four cents ($24.04) per hour worked, in lieu of the
credit amount in subsection (2)(a) of section 63-3029F, Idaho Code, be allowed
the credit provided by this section. The number of new employees is the
increase in the number of employees for the current taxable year over the
greater of the following:
    (a)  The number of employees for the prior taxable year; or
    (b)  The average of the number of employees for the three (3) prior
    taxable years.
    (2)  The credit provided by this section shall be:
    (a)  One thousand five hundred dollars ($1,500) for each new employee
    whose annual salary during the taxable year for which the credit is earned
    is greater than twenty-four dollars and four cents ($24.04) per hour
    worked but equal to or less than an average rate of twenty-eight dollars
    and eighty-five cents ($28.85) per hour worked;
    (b)  Two thousand dollars ($2,000) for each new employee whose annual
    salary during the taxable year for which the credit is earned is greater
    than an average rate of twenty-eight dollars and eighty-five cents
    ($28.85) per hour worked but equal  to or less than an average rate of
    thirty-six dollars and six cents ($36.06) per hour worked;
    (c)  Two thousand five hundred dollars ($2,500) for each new employee
    whose annual salary during the taxable year for which the credit is earned
    is greater than an average rate of thirty-six dollars and six cents
    ($36.06) per hour worked but equal to or less than an average rate of
    forty-three dollars and twenty-seven cents ($43.27) per hour worked;
    (d)  Three thousand dollars ($3,000) for each new employee whose annual
    salary during the taxable year for which the credit is earned is greater
    than an average rate of forty-three dollars and twenty-seven cents
    ($43.27) per hour worked.
    (3)  The credit allowed by subsection (1) of this section shall apply only
to employment primarily within the project site. No credit shall be earned
unless such employee shall have performed such duties for the taxpayer for a
minimum of nine (9) months during the taxable year for which the credit is
claimed.
    (4)  The credit allowed by this section shall not be subject to the fifty
percent (50%) limitation provided in section 63-3029F, Idaho Code.
    (5)  Employees transferred from a related taxpayer or acquired from
another taxpayer within the prior twelve (12) months shall not be included in
the computation of the credit unless the transfer creates a net new job in
Idaho.