Small business taxpayer definition

Small business taxpayer means an employer with at least one 2 employee but not more than one hundred full-time employees. 3 (2) "Base year" shall mean the prior tax year. 4 (3) "Employee" shall mean an individual employed on a full-time basis. 5 (c) No credit shall be allowed under this section to a taxpayer for 6 any new employee if the taxpayer claims any other credit under this 7 article for such new employee where the basis of such other credit is an 8 increase in employment. 9 § 2. Section 210-B of the tax law is amended by adding a new subdivi- 10 sion 52 to read as follows: 11 52. Small business employee retention tax credit. (a) Allowance of 12 credit. A taxpayer will be allowed a credit, to be computed as provided 13 in section forty-two of this chapter, against the tax imposed by this 14 article. 15 (b) Application of credit. The credit allowed under this subdivision 16 for any taxable year may not reduce the tax due for such year to less 17 than the amount prescribed in paragraph (d) of subdivision one of 18 section two hundred ten of this article. However, if the amount of cred- 19 it allowed under this subdivision for any taxable year reduces the tax 20 to such amount, any amount of credit thus not deductible in such taxable 21 year will be treated as an overpayment of tax to be credited or refunded 22 in accordance with the provisions of section one thousand eighty-six of 23 this chapter. Provided, however, the provisions of subsection (c) of 24 section one thousand eighty-eight of this chapter notwithstanding, no 25 interest will be paid thereon. 26 § 3. Section 606 of the tax law is amended by adding a new subsection 27 (ccc) to read as follows: 28 (ccc) Small business employee retention tax credit. (1) A taxpayer 29 will be allowed a credit, to the extent allowed under section forty-two 30 of this chapter, against the tax imposed by this article. 31 (2) Application of credit. The credit allowed under this subsection 32 for any taxable year may not reduce the tax due for such year to less 33 than the amount prescribed in paragraph (d) of subdivision one of 34 section two hundred ten of this chapter. However, if the amount of 35 credit allowed under this subsection for any taxable year reduces the 36 tax to such amount, any amount or credit thus not deductible in such 37 taxable year will be treated as an overpayment of tax to be credited or 38 refunded in accordance with the provisions of section one thousand 39 eighty-six of this chapter. Provided, however, the p...
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Small business taxpayer means a taxpayer, other than a tax shelter under
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Small business taxpayer means a taxpayer (i) which has entire net income of not more than$290,000 for the taxable year; (ii) which constitutes a small business as defined in section 1244(c)(3) of the Internal Revenue Code (without regard to the second sentence of subparagraph (A) thereof) as of the last day of the taxable year; and (iii) which is not part of an affiliated group, as defined in section 1504 of the Internal Revenue Code, unless such group, if it had filed a report under this article on a combined basis, would have itself qualified as a small business taxpayer.
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Examples of Small business taxpayer in a sentence

  • Small business taxpayer exception: if line 73 (tax on capital base) is larger than line 72 (tax on entire net income base) only because of the reduced rate applicable to small business taxpayers, enter the largest amount from line 71, 72, or 74.Taxable DISCs must enter the larger of lines 73 or 74.

  • Small business taxpayer exception: if line 29 (tax on capital base) is larger than line 28 (tax on entire net income base) only because of the reduced rate applicable to small business taxpayers, enter the largest amount from line 27, 28, or 30.

  • As used in this section, the following terms shall 43 have the following meanings: 44 (1) "Small business taxpayer" shall mean an employer with at least one 45 employee but not more than one hundred full time employees.

  • For more information, see Small business taxpayer in the Instructions for Schedule F (Form 1040).

  • Small business taxpayer means a taxpay- er, other than a tax shelter under § 448(d) (3), proposed § 1.448-2(b)(2), or § 1.448- 2(b)(2), as applicable, that meets the gross receipts test as provided in § 448(c), pro- posed § 1.471-1(b)(2), or § 1.471-1(b)(2), as applicable.

  • Small business taxpayer exception: if line 73 (tax on capital base) is larger than line 72 (tax on entire net income base) only because of the reduced rate applicable to small business taxpayers, enter the largest amount from line 71, 72, or 74.Line 77 — Add lines 75 and 76.

  • Lectures Lectures are lecturer-led classes and are the vehicle by which students are introduced to some of the fundamental concepts of a subject and appropriate methodological approaches.

  • Expenses per trip for unused and non-refundable travel and accommodation expenses and other pre-paid excur- sions, tours and activities for all insured persons travel- ling together and paid or required to be paid for by the Cardholder as a result of additional travel expenses.

  • On January 1, 2012, the Alaska PDMP became available for statewide use to licensees who registered.

  • For more information, see Small business taxpayer in the instructions for Schedule F (Form 1040).


More Definitions of Small business taxpayer

Small business taxpayer means, unless the Commissioner in a particular case otherwise directs, any taxpayer who is ordinarily resident or carrying on business in Swaziland whose gross turnover derived from carrying on of that business or trade is less than five hundred thousand emalangeni in a year of assessment.
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Small business taxpayer means a taxpayer, other than a tax shelter under § 448(d)(3), proposed § 1.448-2(b)(2), or § 1.448-2(b)(2), as applicable, that meets the gross receipts test as provided in section 448(c), proposed § 1.263A-1(j), or
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Small business taxpayer means a taxpayer liable for small business tax under section 8 of the Income Tax Act [Cap 11.05];
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Small business taxpayer means an employer with at least one
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Related to Small business taxpayer

  • Small Business Firm means a small business concern as defined at section 2 of Pub. L. 85-536 (15 U.S.C. 632) and implementing regulations of the Administrator of the Small Business Administration. For the purpose of this clause, the size standards for small business concerns involved in government procurement and subcontracting at 13 CFR 121.3-8 and 13 CFR 121.3-12, respectively, will be used.

  • Small business means a business that is a continuing, independent, for profit business which performs a commercially useful function with residence in Tennessee and has total gross receipts of no more than ten million dollars ($10,000,000) averaged over a three-year period or employs no more than ninety-nine (99) persons on a full-time basis.

  • Small Business Enterprise (SBE) means a business that is certified as an SBE under this program or the following similar programs and meeting the below economic thresholds (Section III “Economic Size Standards”).

  • Small Business Enterprise means, as MCC 2-92-670 may be updated from time to time, a small business as defined by the U.S. Small Business Administration, pursuant to the business size standards found in 13 C.F.R. Part 121, relevant to the scope(s) of work the firm seeks to perform on city contracts. A firm is not an eligible small business enterprise in any city fiscal year in which its gross receipts, averaged over the firm's previous five fiscal years, exceed the size standards of 13 C.F.R. Part 121.

  • Small business concern means a concern, including its affiliates, that is independently owned and operated, not dominant in the field of operation in which it is bidding on Government contracts, and qualified as a small business under the criteria in 13 CFR Part 121 and size standards in this solicitation.

  • Small Business Act means the Small Business Act (15 U.S. Code Chapter 14A – Aid to Small Business).

  • HUBZone small business concern means a small business concern that appears on the List of Qualified HUBZone Small Business Concerns maintained by the Small Business Administration.

  • Veteran-owned small business concern means a small business concern—

  • Veteran-owned Small Business Enterprise (VSBE) means A business that is verified by the Center for Verification and Evaluation (CVE) of the United States Department of Veterans Affairs as a veteran-owned small business. See Code of Maryland Regulations (COMAR) 21.11.13.

  • Eligible small business means a business entity that, at the time

  • Qualified small business means an entity, whether organized as a corporation, partnership, or proprietorship, organized for profit with its principal place of business located within this state and which meets the following criteria:

  • Women-owned small business concern means a small business concern-

  • Emerging small business means a small business concern whose size is no greater than 50 percent of the numerical size standard for the NAICS code designated.

  • Small brewer means a brewer who manufactures less than 60,000 barrels of beer, heavy beer, and flavored malt beverages per year.

  • State Income Tax means any Tax imposed by any State of the United States (or by any political subdivision of any such State) or the District of Columbia, or any city or municipality located therein, which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Small disadvantaged business concern means a small business concern that represents, as part of its offer that—

  • Affidavit of Small Business Enterprise Certification means the fully completed, signed, and notarized affidavit that must be submitted with an application for SBE certification. Representations and certifications made by the applicant in this Affidavit are made under penalty of perjury and will be used and relied upon by City to verify SBE eligibility and compliance with SBE certification and documentation requirements.

  • Small Diversity business concern means a small business concern that is at least fifty-one (51) percent unconditionally owned by one or more individuals who are both socially and economically diverse, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one or more socially and economically diverse individuals and that has its management and daily business controlled by one or more such individuals. This term also means a small business concern that is at least fifty-one (51) percent unconditionally owned by an economically diverse Indian tribe or Native Hawaiian Organization, or a publicly owned business that has at least fifty-one (51) percent of its stock unconditionally owned by one of these entities, that has its management and daily business controlled by members of an economically diverse Indian tribe or Native Hawaiian organization.

  • Non-Income Tax Return means any Tax Return relating to any Tax other than an Income Tax.

  • Historically Disadvantaged Individual (HDI) means a South African citizen -

  • Income Tax Return means any return, declaration, report, claim for refund, or information return or statement relating to Income Taxes, including any schedule or attachment thereto, and including any amendment thereof.

  • Foreign Income Tax means any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, which is an income tax as defined in Treasury Regulation Section 1.901-2, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Small school district means a school district that meets all

  • Historically Disadvantaged Individual (HDI) - means a South African citizen:

  • Historically disadvantaged individuals (HDIs means all South African citizens –

  • U.S. Taxpayer means a Participant who, with respect to an Award, is subject to taxation under the applicable U.S. tax laws.