§ 44-55-4 - Criteria for tax incentives.
SECTION 44-55-4
§ 44-55-4 Criteria for tax incentives.– (a) A business whose employees each meet the following criteria as certified bythe department of labor and training shall be entitled to an incentive in theamount of forty percent (40%) of the eligible employee's first year wages, upto a maximum of two thousand four hundred dollars ($2,400) per eligibleemployee:
(1) The hired employee shall attest and must have beenunemployed for a period of at least twenty-six (26) consecutive calendar weeksimmediately prior to employment with the claimant business; and
(2) The employee must have been in the employ of the claimantbusiness for a minimum period of fifty-two (52) consecutive calendar weeks, anda minimum of one thousand eight hundred twenty (1,820) hours of paid employmentbefore the employer can become eligible for the incentive.
(b) The incentive shall be applied only once for any givenemployee. The employee must be a first time hiree of the claimant business andnot have worked for any company that subsequently merges with or is acquired bythe business. Also, any employee whicha business leases does not qualify forthis incentive.
(c) In order to avail itself of the incentive, the businessmust file for the incentive for the employee with the department of labor andtraining within thirty (30) days from the first day the employee begins work.The department of labor and training shall notify the business as soon aspracticable after the completion of certification pursuant to the provisions ofthis section and § 44-55-4.1.
(d) The employee cannot be a relative of any controllingshareholder, director, or officer of the claimant corporation, nor controllingshareholder, officer, or manager of the claimant limited liability company, norpartner or owner of any claimant partnership, joint venture, soleproprietorship or any other type of legal business entity claiming theincentive under this chapter.