(a) In general.- The Secretary or the Secretary's designee shall certify a person as a qualified employer eligible for a tax credit under this subtitle if the person meets the requirements of this section.
(b) Requirements for eligibility.- To be eligible for a tax credit under this subtitle, a person must hire a qualified employee to fill a qualified position and begin employment in that position between the effective date of Chapter 1 (S.B. 106) of the Acts of the General Assembly of 2010 and December 31, 2010.
(c) Application.- To be certified as a qualified employer for a tax credit under this subtitle, a person shall submit to the Department an application certified and executed under the penalty of perjury that specifies:
(1) the name and Social Security number of each qualified employee;
(2) the date of hire of each qualified employee, the wages paid to each qualified employee, the date wages began to be paid to each qualified employee, and the position for which each qualified employee was hired;
(3) the number of qualified positions created;
(4) the evidence that the employer meets the requirements of § 11-1101(c) of this subtitle;
(5) the evidence that the position meets the requirements of § 11-1101(d) of this subtitle; and
(6) any other information that the Department may require.
(d) Certification of amount of tax credit.- Based on the information provided to the Department under subsection (c) of this section, and in accordance with the provisions of subsection (e) of this section, within 60 days after receiving the application, the Secretary or the Secretary's designee shall certify the maximum amount of the tax credit for which a qualified employer is eligible.
(e) Computation of tax credits; limitation.-
(1) Subject to the limitations in paragraphs (2), (3), and (4) of this subsection, the credit earned under this section is $5,000 multiplied by the number of qualified employees hired by the qualified employer between the effective date of Chapter 1 (S.B. 106) of the Acts of the General Assembly of 2010 and December 31, 2010.
(2) The credit earned by a qualified employer under this subtitle may not exceed $250,000.
(3) The total amount of credits approved by the Department under this subtitle may not exceed $20,000,000.
(4) The credits will be available and certified on a first-come, first-served basis at the time of application.
(f) Vacancies; amended applications.- For any qualified position certified under subsection (d) of this section that is vacated for any reason, the qualified employer must submit an amended application under subsection (c) of this section to receive the tax credit for hiring a replacement qualified employee for that vacated position.
(g) Regulations.- The Secretary and the Comptroller may jointly adopt regulations to carry out this subtitle and the provisions of § 10-728 of the Tax - General Article.
(a) In general.- The Secretary or the Secretary's designee shall certify a person as a qualified employer eligible for a tax credit under this subtitle if the person meets the requirements of this section.
(b) Requirements for eligibility.- To be eligible for a tax credit under this subtitle, a person must hire a qualified employee to fill a qualified position and begin employment in that position between the effective date of Chapter 1 (S.B. 106) of the Acts of the General Assembly of 2010 and December 31, 2010.
(c) Application.- To be certified as a qualified employer for a tax credit under this subtitle, a person shall submit to the Department an application certified and executed under the penalty of perjury that specifies:
(1) the name and Social Security number of each qualified employee;
(2) the date of hire of each qualified employee, the wages paid to each qualified employee, the date wages began to be paid to each qualified employee, and the position for which each qualified employee was hired;
(3) the number of qualified positions created;
(4) the evidence that the employer meets the requirements of § 11-1101(c) of this subtitle;
(5) the evidence that the position meets the requirements of § 11-1101(d) of this subtitle; and
(6) any other information that the Department may require.
(d) Certification of amount of tax credit.- Based on the information provided to the Department under subsection (c) of this section, and in accordance with the provisions of subsection (e) of this section, within 60 days after receiving the application, the Secretary or the Secretary's designee shall certify the maximum amount of the tax credit for which a qualified employer is eligible.
(e) Computation of tax credits; limitation.-
(1) Subject to the limitations in paragraphs (2), (3), and (4) of this subsection, the credit earned under this section is $5,000 multiplied by the number of qualified employees hired by the qualified employer between the effective date of Chapter 1 (S.B. 106) of the Acts of the General Assembly of 2010 and December 31, 2010.
(2) The credit earned by a qualified employer under this subtitle may not exceed $250,000.
(3) The total amount of credits approved by the Department under this subtitle may not exceed $20,000,000.
(4) The credits will be available and certified on a first-come, first-served basis at the time of application.
(f) Vacancies; amended applications.- For any qualified position certified under subsection (d) of this section that is vacated for any reason, the qualified employer must submit an amended application under subsection (c) of this section to receive the tax credit for hiring a replacement qualified employee for that vacated position.
(g) Regulations.- The Secretary and the Comptroller may jointly adopt regulations to carry out this subtitle and the provisions of § 10-728 of the Tax - General Article.
(a) In general.- The Secretary or the Secretary's designee shall certify a person as a qualified employer eligible for a tax credit under this subtitle if the person meets the requirements of this section.
(b) Requirements for eligibility.- To be eligible for a tax credit under this subtitle, a person must hire a qualified employee to fill a qualified position and begin employment in that position between the effective date of Chapter 1 (S.B. 106) of the Acts of the General Assembly of 2010 and December 31, 2010.
(c) Application.- To be certified as a qualified employer for a tax credit under this subtitle, a person shall submit to the Department an application certified and executed under the penalty of perjury that specifies:
(1) the name and Social Security number of each qualified employee;
(2) the date of hire of each qualified employee, the wages paid to each qualified employee, the date wages began to be paid to each qualified employee, and the position for which each qualified employee was hired;
(3) the number of qualified positions created;
(4) the evidence that the employer meets the requirements of § 11-1101(c) of this subtitle;
(5) the evidence that the position meets the requirements of § 11-1101(d) of this subtitle; and
(6) any other information that the Department may require.
(d) Certification of amount of tax credit.- Based on the information provided to the Department under subsection (c) of this section, and in accordance with the provisions of subsection (e) of this section, within 60 days after receiving the application, the Secretary or the Secretary's designee shall certify the maximum amount of the tax credit for which a qualified employer is eligible.
(e) Computation of tax credits; limitation.-
(1) Subject to the limitations in paragraphs (2), (3), and (4) of this subsection, the credit earned under this section is $5,000 multiplied by the number of qualified employees hired by the qualified employer between the effective date of Chapter 1 (S.B. 106) of the Acts of the General Assembly of 2010 and December 31, 2010.
(2) The credit earned by a qualified employer under this subtitle may not exceed $250,000.
(3) The total amount of credits approved by the Department under this subtitle may not exceed $20,000,000.
(4) The credits will be available and certified on a first-come, first-served basis at the time of application.
(f) Vacancies; amended applications.- For any qualified position certified under subsection (d) of this section that is vacated for any reason, the qualified employer must submit an amended application under subsection (c) of this section to receive the tax credit for hiring a replacement qualified employee for that vacated position.
(g) Regulations.- The Secretary and the Comptroller may jointly adopt regulations to carry out this subtitle and the provisions of § 10-728 of the Tax - General Article.
