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year business credit includes the IEC determined under section
45A(a). Sec. 38(b)(10). Section 45A(a) provides:
SEC. 45A(a). Amount of Credit.--For purposes of
section 38, the amount of the Indian employment credit
determined under this section with respect to any
employer for any taxable year is an amount equal to 20
percent of the excess (if any) of--
(1) the sum of--
(A) the qualified wages paid or
incurred during such taxable year, plus
(B) qualified employee health insurance
costs paid or incurred during such taxable
year, over
(2) the sum of the qualified wages and
qualified employee health insurance costs
(determined as if this section were in effect)
which were paid or incurred by the employer (or
any predecessor) during calendar year 1993.
[Emphasis added.]
“Qualified wages” are defined as “any wages paid or incurred by
an employer for services performed by an employee while such
employee is a qualified employee.” Sec. 45A(b) (emphasis added).
A “qualified employee” is defined in section 45A(c)(1) as:
(1) In general.--Except as otherwise provided in
this subsection, the term “qualified employee” means,
with respect to any period, any employee of an employer
if--
(A) the employee is an enrolled
member of an Indian tribe or the spouse
of an enrolled member of an Indian
tribe,
(B) substantially all of the
services performed during such period by
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Last modified: May 25, 2011