Annualized Withholding Guideline a. Step 1: Subtract the Base Employment Number from the total number of Full- Time Employees at the Project Location as of the end of the Taxable Year;
b. Step 2: Multiply the difference in Step 1 by the product of: Actual average wage paid to New Employees multiplied by 2,080 (hours worked per year) multiplied by the effective state income tax withholdings rate, as determined by the IEDC;
c. Step 3: Multiply the result in Step 2 by the applicable share provided to the Company, as determined by the IEDC.
Annualized Withholding Guideline a. Step 1: Subtract the Base Employment Number (as described in Exhibit A) from the total number of Full-Time Employees at the Project Location as of the end of the Taxable Year;
b. Step 2: Multiply the difference in Step 1 by the product of: Actual average wage paid to New Employees multiplied by 2,080 (hours worked per year) multiplied by the effective state income tax withholdings rate, as determined by the IEDC;
c. Step 3: Multiply the result in Step 2 by the applicable share provided to the Company, as determined by the IEDC. The applicable share will remain constant throughout the duration of the Term.
