| State: |
DC |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Jobs Credits |
| Description: |
1) NET 2000 EMPLOYMENT CREDITS - For new eligible employees, a credit of 50% of wages paid for the first 24 months of employment, up to $15,000 per employee per year.
2) NET 2000 WAGE TAX CREDIT - For all new employees, a credit of 10% of wages paid for the first 24 months of employment, up to $5,000 per employee.
3) RELOCATION EXPENSE REIMBURSEMENT - A credit of $5000 per employee for reimbursement of employee moving expenses capped at $250,000 per company per year. If a transferred employee leases or purchases a primary residence then the credit is $7500 per employee for reimbursement of moving expenses and payments for the residence. This is capped at $1,000,000 per company per year.
Please also see Special Purpose Zone Incentives and Credits section. |
| Eligibility Requirements: |
1) Employee must be recipient of Temporary Aid for Needy Families (TANF), ex-offenders or meet Welfare-to-Work or Work Opportunity Tax Credit eligibility requirements. Must be a qualified high technology company with 2 or more employees; maintain an office, headquarters, or base operations in DC; and derive 51% or more of gross revenues from a high tech business as defined in New E-conomy Transformation Act of 2000 (D.C. Law 13-526). 2) Must be a qualified high technology company with 2 or more employees; maintain an office, headquarters, or base operations in DC; and derive 51% or more of gross revenues from a high tech business as defined in New E-conomy Transformation Act of 2000 (D.C. Law 13-526). 3) Must be a qualified high technology company which moves at least 2 full-time jobs from outside DC to DC; maintain an office, headquarters, or base operations in DC; and derive 51% or more of gross revenues from a high tech business as defined in New E-conomy Transformation Act of 2000 (D.C. Law 13-526). |
| Geographic Restrictions: |
District-wide |
| Granting Authority: |
District of Columbia |
|
|
