Laserfiche WebLink
quarters will encourage businesses that are financially sound and well established in the marketplace to <br /> relocate to the city or expand within the city.Therefore, considering situations particular and unique to <br /> the city, the city finds that it is appropriate to differ from the business and occupation tax model <br /> ordinance in providing for a new jobs tax credit as described in this section. <br /> B. The credit described in this section is available to taxpayers located in the city. <br /> C. Subject to the conditions of this section, a taxpayer may claim a credit against the tax imposed <br /> under this chapter when, after January 1, 2010,the taxpayer creates fifty or more new full-time <br /> employment positions within the city in a period not to exceed four consecutive quarters and keeps <br /> those positions filled for three consecutive years following the date on which credit for the positions is <br /> claimed. <br /> 1. This credit is one thousand dollars for each new full-time employment position created in a single <br /> period. A taxpayer may claim credit under this section multiple times, up to a cap of five hundred <br /> thousand dollars per taxpayer, for separate and distinct periods, provided the taxpayer satisfies the <br /> requirements of this section for each period. <br /> 2. A"new full-time employment position" means a permanent,full-time position that has not been <br /> filled by the taxpayer at any time in the five preceding years or which has not been located within the <br /> city at any time in the five preceding years. <br /> a. "Full-time" means a position that is filled by one employee who works a normal work week of at <br /> least thirty-five hours. <br /> b. The employee filling the new full-time employment position must perform work primarily at <br /> locations within the city for the relevant periods specified under this section. For the purposes of this <br /> subsection, "primarily" means that the employee will perform at least fifty-one percent of his or her job <br /> duties in the city. <br /> c. If an employee is voluntarily or involuntarily separated from employment,the new full-time <br /> employment position is considered filled on a full-time basis if the taxpayer actively seeks a replacement <br /> and does not allow the position to remain vacant for more than ninety days in any four consecutive <br /> quarters, which time may be extended an additional thirty days by the director upon a showing of good <br /> cause. <br /> d. A position is a new full-time employment position only if,when filled, it results in a net increase in <br /> the taxpayer's total number of full-time employment positions located within the city. <br /> e. New full-time employment positions filled by existing employees performing work primarily within <br /> the city are eligible for the credit under this section only if the position vacated by the existing employee <br /> is filled by a new hire. <br /> f. A taxpayer does not create any new full-time employment positions for purposes of this section by: <br /> (1) purchasing a business already located within the city; (2) moving a business already located within <br /> the city to a new location; or(3) being annexed into the city. <br /> ani <br /> 2019 ORDINANCE: Business and Occupation Tax Page 36 of 40 <br />