Employment Tax Credit Act

Summary

Permits a tax credit, under the Internal Revenue Code, in an amount equal to ten percent of the wages paid by the taxpayer during the taxable year to each eligible employee. Defines the term "eligible employee" to mean an individual hired by the taxpayer without displacing any other individual, if such individual was not employed by the taxpayer during the prior 42-day period and if such employee works for the taxpayer more than 13 consecutive weeks or more than 30 weeks. Limits such credit to $800 per eligible employee. Establishes and defines special rules for the administration of this tax credit.

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1 official file

• Introduced in House

  summary · EN · 11 March 1976

  Open at official source

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