§ 42-64.11-5 - Tax on employing unit.
SECTION 42-64.11-5
§ 42-64.11-5 Tax on employing unit. –For any taxable year beginning in a credit year, each employing unit (withinthe meaning of subsection 28-42-3(16)) that is a certified company or one ofits affiliated entities shall each pay a tax equal to five percent (5%) of theaggregate performance-based compensation paid to its eligible employees for thecredit year. The tax shall be reported at the same time as tax on the employingunit may be due to be reported under chapter 11, 13, 13.1, 14, or 17 of title44, or, if the employing unit is not taxable under those chapters, at such timeas the tax administrator may prescribe. The tax imposed by this section shallnot be offset by credits provided under those sections or any other provisionof law.