Bill Text: IN SB0189 | 2012 | Regular Session | Introduced
Bill Title: New employer tax credit.
Spectrum: Partisan Bill (Democrat 13-0)
Status: (Introduced - Dead) 2012-01-04 - First reading: referred to Committee on Tax and Fiscal Policy [SB0189 Detail]
Download: Indiana-2012-SB0189-Introduced.html
Citations Affected: IC 6-3.1-33.
Synopsis: New employer tax credit. Reduces from ten to one the
number of qualified employees that a corporation or pass through entity
must employ in order to qualify for the new employer tax credit
(credit). Excludes an individual hired as a seasonal worker from the
definition of "qualified employee". Extends the credit for two years (to
taxable years beginning before January 1, 2015).
Effective: July 1, 2012.
January 4, 2012, read first time and referred to Committee on Tax and Fiscal Policy.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
(1) either:
(A) locates or relocates the operations of a business enterprise in Indiana;
(B) incorporates or otherwise first organizes in Indiana; or
(C) expands the entity's operation of a business enterprise in Indiana;
(2) employs at least ten (10) qualified employees;
(3) makes an application to the IEDC under this chapter; and
(4) is issued a certificate of approval by the IEDC under this chapter.
(b) This subsection applies to taxable years beginning after
December 31, 2012. As used in this chapter, "new Indiana
business" means a corporation or pass through entity:
(1) that:
(A) locates or relocates the operations of a business
enterprise in Indiana;
(B) incorporates or otherwise first organizes in Indiana; or
(C) expands the entity's operation of a business enterprise
in Indiana;
(2) that employs at least one (1) qualified employee;
(3) that makes an application to the IEDC under this chapter;
and
(4) that is issued a certificate of approval by the IEDC under
this chapter.
(1) a full-time employee (as defined in IC 6-3.1-13-4) first hired by a new Indiana business during the period specified in section 10(b) of this chapter;
(2) a resident of Indiana; and
(3) not more than a five percent (5%) shareholder, partner, member, or owner of the applicant;
as determined by the IEDC. The term does not include rehired individuals, individuals employed to fill positions vacated as the result of a layoff that occurred during the previous two (2) years,
(b) The IEDC shall promptly review all applications submitted to the IEDC under this chapter.
(c) This subsection applies to taxable years beginning after December 31, 2009, and before January 1, 2013. If the IEDC determines that an applicant for the tax credit provided by this chapter has furnished reliable evidence, as determined by the IEDC, that the
applicant is reasonably capable of:
(1) employing at least ten (10) qualified employees in each month
of the period specified in section 10(b) of this chapter during the
taxable year; and
(2) meeting the requirements for the tax credit provided by this
chapter;
the IEDC may issue the applicant a certificate of approval. If a
certificate of approval is issued, the IEDC shall provide a copy of the
certificate to the department.
(d) This subsection applies to taxable years beginning after
December 31, 2012. If the IEDC determines that an applicant for
the tax credit provided by this chapter has furnished reliable
evidence, as determined by the IEDC, that the applicant is
reasonably capable of:
(1) employing at least one (1) qualified employee in each
month of the period specified in section 10(b) of this chapter
during the taxable year; and
(2) meeting the requirements for the tax credit provided by
this chapter;
the IEDC may issue the applicant a certificate of approval. If a
certificate of approval is issued, the IEDC shall provide a copy of
the certificate to the department.
(d) (e) In making a determination of whether an applicant is
qualified for a credit under this chapter, the IEDC may consider the
following:
(1) The applicant's employment levels in previous years to
determine if the applicant is hiring new individuals or rehiring
individuals.
(2) Whether the applicant is the successor to part or all of the
assets or business operations of another corporation or pass
through entity that conducted business operations in Indiana in
the same line of business to determine if the applicant is a new
Indiana business under this chapter.
(e) (f) This subsection applies to taxable years beginning after
December 31, 2009, and before January 1, 2013. If the IEDC
determines that the applicant will not employ at least ten (10) qualified
employees in each month of the period specified in section 10(b) of this
chapter during the taxable year, is not a new Indiana business, or does
not meet, or is unlikely to meet, any other requirements for the tax
credit provided by this chapter, the IEDC shall notify the applicant of
the IEDC's determination.
(g) This subsection applies to taxable years beginning after
December 31, 2012. If the IEDC determines that the applicant will
not employ at least one (1) qualified employee in each month of the
period specified in section 10(b) of this chapter during the taxable
year, is not a new Indiana business, or does not meet, or is unlikely
to meet, any other requirements for the tax credit provided by this
chapter, the IEDC shall notify the applicant of the IEDC's
determination.
(f) (h) The IEDC may not issue a certificate of approval under this
chapter after December 31, 2012. 2014.
