Provide an Income Tax Credit To Encourage Small Business Hiring

Last updated: Feb 10, 2019

Details about this bill
Category: Taxation
Status: In Committee
Sponsor: Representative Jessica Fay, House 66
Session: 129
Bill #: LD 725

Position:

Monitoring.

Summary:

This bill provides a new employee hiring incentive by means of an income tax credit for employers with an average of 25 or fewer full-time employees during a tax year. The credit is equal to the amount of federal social security tax and Medicare tax paid by the employer for the first 40 hours of employment for new employees who are employed for at least 12 consecutive months for year-round jobs or at least 2 consecutive seasons for seasonal jobs.