Notwithstanding any provision to the contrary of Code Sections 48-7-40 and 48-7-40.1, business enterprises may apply to the commissioner to make a one-time election to calculate new full-time jobs on a calendar year rather than a taxable year basis for all jobs created during calendar year 2001. Such one-time election may be made by claiming job tax credits calculated on the basis set forth in Code Sections 48-7-40 and 48-7-40.1 in connection with any 2002 state income tax return filed after the effective date of this Code section. Such election will not change the taxable year of the business enterprise.
Section: Previous 48-7-40.16 48-7-40.17 48-7-40.18 48-7-40.19 48-7-40.20 48-7-40.21 48-7-40.22 48-7-40.23 48-7-40.24 48-7-40.25 48-7-40.26 48-7-40.27 48-7-40.28 48-7-40.29 48-7-40.30 NextLast modified: October 14, 2016