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3. To qualify for this credit the taxpayer must report, on each return filed after this section is effective, <br /> the taxpayer's total number of full-time employment positions. <br /> 4. This credit may be claimed at the end of the fourth consecutive quarter in which fifty or more new <br /> full-time employment positions were created or, upon the taxpayer's request by written application, <br /> following creation of the last new full-time employment position for which credit will be claimed in that <br /> period. <br /> 5. The taxpayer must attach an application, provided by the city, to the return due at the conclusion of <br /> the four consecutive quarters in which fifty or more new full-time employment positions were created, <br /> or on the return due at the time of the taxpayer's application specified in subsection (C)(4) of this <br /> section. <br /> 6. On the return following the creation of the first new full-time employment position for which credit <br /> will be claimed, the taxpayer shall attach its two most recent quarterly tax summary Washington State <br /> unemployment insurance reports filed with the state. On each return submitted to the city thereafter, <br /> and for three years following the return on which credit is claimed, the taxpayer shall attach all quarterly <br /> tax summary Washington State unemployment insurance reports filed with the state but not yet <br /> submitted to the city.The reports submitted must redact employee names and Social Security numbers, <br /> but otherwise be complete replications. <br /> 7. The taxpayer is not eligible for this credit if the taxpayer owes the city any taxes which are due <br /> under a past return, including, but not limited to, amounts due under Chapters 3.19, 3.20, 3.24, 3.28, <br /> and/or 3.36. <br /> 8. This credit may not be applied retroactively by amending prior returns, but may be carried forward <br /> to the extent the credit exceeds the taxes imposed under this chapter. <br /> 9. This credit is not considered a payment of taxes for purposes of Section 3.19.100 or any other <br /> purpose.As such, unused credit amounts will not be refunded and will not accrue interest. <br /> 10. To remain eligible for credit claimed under this section, the taxpayer must keep filled,for three <br /> years after the date on which credit is claimed,the total number of full-time employment positions <br /> existing at the time credit is claimed. <br /> 11. A person entitled to claim credit under this section may transfer the credit for use by another <br /> taxpayer, so long as either of the following conditions is satisfied: (a) either the person entitled to claim <br /> credit is wholly owned by the taxpayer receiving the credit or(b)the taxpayer receiving the credit is <br /> wholly owned by the person entitled to claim the credit. For the purposes of determining eligibility for <br /> the credit and amount of the credit available for transfer under this subsection (C)(11),the number of <br /> new full-time employment positions will be deemed to be the sum of(a)the number of new full-time <br /> employment positions created by the person entitled to claim the credit and (b)the number new full- <br /> time employment positions created by the taxpayer receiving the credit.The director may establish <br /> requirements for submittals from the taxpayer receiving the credit necessary to demonstrate whole <br /> ownership. <br /> ime <br /> me 2019 ORDINANCE: Business and Occupation Tax Page 37 of 40 <br />