Incremental Income Tax definition

Incremental Income Tax means the total amount withheld

Incremental Income Tax means the total amount withheld during the taxable year from the compensation of New Employees and, if applicable, Retained Employees under Article 7 of the Illinois Income Tax Act (35 ILCS 5/101, et seq.) arising from employment at the Project during the Taxable Year, as reflected on the IRS forms W-2 for each New Employee and Retained Employee.

Incremental Income Tax means the total amount withheld during the taxable year from the compensation of High Impact Business construction job employees.

Examples of Incremental Income Tax in a sentence

• By way of example, if the Company commits to the creation of 50 new full-time jobs under Section IV.C(i), the maximum number of New Employees for the purposes of calculating the Incremental Income Tax and the annual Credit would be 100 New Employees.

• If the Project is located in an Underserved Area and the Company hires the minimum number of New Employees and the minimum Retained Employees as set forth in Section IV.D and E, then the maximum amount of the annual Credit may be increased by fifty percent (50%) of the Incremental Income Tax attributable to Retained Employees at the Project.

• If the Project is not located in an Underserved Area and the Company hires the required minimum number of New Employees and the minimum Retained Employees as set forth in Section IV.D and E, then the maximum amount of the Credit may be increased by twenty-five percent (25%) of the Incremental Income Tax attributable to Retained Employees at the Project.

• If known as of the Effective Date, the Company makes the following election with respect to the portion of the Credit based on Incremental Income Tax attributable to New or Retained Employees.

• The sum of (a) seventy-five percent (75%) (or, for projects located in an Underserved area or Energy Transition Area, one hundred percent (100%)) of the Incremental Income Tax attributable to New Employees, which must be above the Statewide baseline of (107) and (b) ten percent (10%) of the Training Costs of New Employees.

More Definitions of Incremental Income Tax

Incremental Income Tax means the total amount

Incremental Income Tax is defined in Section 3.16.

Incremental Income Tax means the total amount withheld during the taxable year from the compensation of new employees and, if applicable, retained employees under Article 7 of the Illinois Income Tax Act arising from employment at a project that is the subject of an agreement.

Incremental Income Tax means the total amount withheld from the compensation of new employees under Article 7 of the Illinois Income Tax Act arising from employment by an eligible employer.

Incremental Income Tax means the total amount withheld during the taxable year from the compensation of Enterprise Zone construction jobs credit employees.

Incremental Income Tax means the total amount withheld during the taxable year from the compensation of River Edge Construction Jobs Employees.

Incremental Income Tax means the incremental payroll attributable to a project that is the subject of an Agreement.