43-1179

43-1179. Employer credit for technology
training; definition

A. For tax years beginning from and after December 31, 2000 and ending before
January 1, 2006, a credit is allowed against the taxes imposed by this title for expenses
incurred by the taxpayer for providing qualified technology skills training to not more
than twenty of the taxpayer's employees.

B. The amount of the credit is equal to fifty per cent of the amount actually spent
during the calendar year for the cost of training but not more than one thousand five
hundred dollars per employee.

C. To receive a tax credit under this section, a taxpayer must apply to the
department of commerce, on a form prescribed by the department of commerce, on or before
January 15 following the calendar year in which the expenses were incurred. On or before
February 15 of that same year, the department of commerce shall review and determine the
amount of the credit for each taxpayer and issue a certificate to each qualifying
applicant stating the amount of the credit. The taxpayer shall claim the credit on the
next tax return filed after receiving the certificate from the department of commerce.
The department of commerce shall not certify tax credits under this section in any
calendar year exceeding two million five hundred thousand dollars. If qualifying
applications exceed two million five hundred thousand dollars, the department of commerce
shall proportionately reduce the amount of the credit allowed each taxpayer.

D. If the allowable tax credit exceeds the taxes due under this title on the
claimant's income, or if there are no taxes due under this title, the amount of the claim
not used to offset the taxes under this title shall be paid in the same manner as a
refund granted under section 42-1118. Refunds made pursuant to this section are subject
to setoff under section 42-1122.

E. Co-owners of a business, including corporate partners in a partnership, may each
claim only the pro rata share of the credit allowed under this section based on the
ownership interest. The total of the credits allowed all of the owners of the business
shall not exceed the amount that would have been allowed for a sole owner of the
business.

F. For purposes of this section, "qualified technology skills training" means a
training program that is certified by the department of commerce under section
41-1518.01.