Employee Retention Credit definition

Employee Retention Credit means the employee retention tax credit set forth in Section 2301 of the CARES Act (as modified by the Consolidated Appropriations Act, 2021).
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Employee Retention Credit means (i) the credit against applicable employment Taxes set forth in Section 2301 of the CARES Act, as amended by Section 206 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020; and (ii) the credit against applicable employment Taxes set forth in Section 3134 of the Code.
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Employee Retention Credit means any employee retention credit provided for by the Coronavirus Aid, Relief, and Economic Security Act (including as amended by the Consolidated Appropriations Act, 2021 and the American Rescue Plan Act of 2021) and any similar credit under state or local Law.
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Examples of Employee Retention Credit in a sentence

  • Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”).

  • Represents a payroll tax credit earned in accordance with the Employee Retention Credit under the CARES Act.

  • Employee Retention Credit (“ERC”) is a refundable credit against certain employment taxes equal to 50% of the qualified wages an eligible employer paid to employees from March 17, 2020 to December 31, 2020.

  • Other receivables as at December 31, 2022 include $5.3 million in refundable tax credits from the Galena Complex through the Employee Retention Credit under the U.S. CARES Act collected in April 2023.

  • The Company has filed an appeal under the Paycheck Protection Program for the remaining $0.2 million of the loan and is awaiting details on timing of repayment of the amount.The Company received confirmation via letter dated December 26, 2022 from the U.S. Internal Revenue Service that $3.5 million in refunds was approved through the Employee Retention Credit from the U.S. CARES Act to assist with payroll and other expenses at the Galena Complex during the COVID-19 pandemic.

  • Fourth quarter 2021 included a benefit of $60 relating to the Employee Retention Credit that the Company earned pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”).

  • Additional cash infusions during the first quarter of 2023 included proceeds of approximately $832,000 from the sale of certain equipment of our discontinued US Compounding operations, proceeds of $875,000 from Employee Retention Credit (“ERC”) program of the government and $3.0 million gross proceeds from the sale of equity.Before turning it back to David Marguglio, I would like to encourage you to review our recently filed Annual Report on Form 10-K for additional details and disclosures.

  • In addition to the Purchase Price, Seller shall be eligible to receive from Company additional cash valued at an amount equal to the Employer Retention Credit, if any, due Company under Section 2301 of the CARES Act or any corresponding or similar provision of state or local Tax Law, for the Employee Retention Credit eligibility period preceding the Closing Date.

  • The improvement in 2021 is due to the $10.1 million PPP loan forgiveness and a $7.2 million other income recorded from the Employee Retention Credit.

  • Trade receivables $5,624 $4,740 Value added taxes receivable - 3,219 Other receivables 5,928 249 $11,552 $8,208 Value added taxes was in a net payable position of $0.2 million as at December 31, 2022 and was reclassified to trade and other payables for presentation purposes.Other receivables include $5.3 million in refundable tax credits from the Galena Complex through the Employee Retention Credit under the U.S. CARES Act where collection is reasonably assured.


More Definitions of Employee Retention Credit

Employee Retention Credit means the Federal refundable tax credit for businesses that continued to pay employees while experiencing a full or partial suspension of operations limiting commerce, travel or group meetings due to COVID-19 or had significant declines in gross receipts from March 13, 2020, to December 31, 2020, or declines in gross receipts from January 1, 2021, through September 30, 2021.
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Employee Retention Credit means the receivable with respect to a Federal Employee Retention Credit in an amount not to exceed $2,338,778.07 which is to be paid to the Sellers pursuant to the Jxxx Xxxxxxxx Acquisition Agreement.
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Employee Retention Credit means $131,000 being the amount (expressed in US dollars) of the “employee retention tax credit” claimed by a Group Company pursuant to the U.S. Coronavirus Aid, Relief, and Economic Security Act, Pub. L. 116–136 (116th Cong.) (Mar. 27, 2020) and deducted in the EV to Equity Bridge as a debt-like item in the amount of £94,927.54 in the line item entitled “US Employment Retention Grants”;
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Employee Retention Credit means the employee retention tax credit under Section 2301 of the CARES Act.
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Related to Employee Retention Credit

  • Executive Employee means those employees of the Company of Grade Level 10 or above.

  • Benefit Continuation Period shall have the meaning set forth in Section 5(b).

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Administrative employee means an employee who normally supervises persons engaged in office administration, construction, security or maintenance work who are represented by another trade union. This definition includes employees who share a community of interest with “supervisors”.

  • Post-Employment Period is defined in Section 8.2.

  • Pension Credit ; means the means-tested Guarantee or Savings Credit administered by the Department for Work and Pensions under the State Pension Credit Regulations 2002;

  • converted employment and support allowance means an employment and support allowance which is not income-related and to which a person is entitled as a result of a conversion decision within the meaning of the Employment and Support Allowance (Existing Awards) Regulations 2008;

  • Active Employment means you must be actively at work for the Sponsor:

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Active Employees means all employees employed on the Closing Date by Seller for its business who are employed exclusively in Seller’s business as currently conducted, including employees on temporary leave of absence, including family medical leave, military leave, temporary disability or sick leave, but excluding employees on long-term disability leave.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

  • Living Wage Employee means any and all employees of the Contractor and all Subcontractors of the Contractor that perform any part of the Work on a property owned by or leased to the City, including all streets, sidewalks and other public rights of way, for at least one consecutive hour, but excluding Students, volunteers and employees of Social Enterprises;

  • Risk retention group means any corporation or other limited liability association:

  • Continuing education credit or “CE credit” means one continuing education credit as defined in [insert reference in State law or regulations governing producer continuing education course approval].

  • Transferred Employee has the meaning set forth in Section 6.01(a).

  • Key Employees means each of the following individuals: Xxx Xxxxxxx, Xxxxx Xxxxxxxx, Xxxxx Xxxxxx and Xxxxx Xxxxxxx.

  • Company Employee Agreement means any management, employment, severance, change in control, transaction bonus, consulting, repatriation or expatriation agreement or other contract between any Group Company and any current or former employee, director or officer of such Group Company.

  • Continuing Employee has the meaning set forth in Section 6.7(a).

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • U.S. Employee means a person who is an employee of the Company (or of any Subsidiary) for purposes of section 422 of the Code.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.