INCENTIVE DESCRIPTION

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


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.