316 Neb. Admin. Code, ch. 29, § 009 - QUALITY JOBS ACT - ALTERNATIVE WAGE BENEFIT CREDIT
009.01 If the
company has entered into an agreement with the state that provides for the
alternative wage benefit credit, then the company shall receive the wage
benefit credit in the manner provided in this regulation.
009.02 The wage benefit credit shall be paid
or applied by the company for company training programs, employee benefit
programs, educational institution training programs, or company workplace
safety programs, or any combination thereof, as determined by the company.
009.02A Nothing in this section shall be
construed to limit the right of an employee or employees subject to a
collective bargaining agreement to negotiate relative to such
programs.
009.03 The
wage benefit credit shall be an amount equal to the percentage specified in
paragraph 009.04 multiplied by the amount by which the total compensation paid
during each project year to employees of the company while employed at the
project exceeds the average compensation paid at the project multiplied by the
number of equivalent base-year employees.
009.03A Average compensation means the total
compensation paid during each project year divided by the total number of
equivalent employees at the project.
009.04 The percentage used to determine the
wage benefit credit shall be:
| If the average compensation is over | But not over | Then the credit percentage shall be |
| $0 | $20,000 | 0% |
| $20,000 | $30,000 | 3% |
| $30,000 | $40,000 | 4% |
| $40,000 | 5% |
009.05 The wage benefit credit shall be
allowed for each project year the company is above the required levels of
investment and employment.
009.06
The wage benefit credit shall be established by filing the forms required by
the Tax Commissioner with the income tax return for the year.
009.06A The credit may be used to reduce the
taxpayer's Nebraska income tax liability.
009.06B The credits shall be applied in the
order in which they were first allowed.
009.06C The credit may be carried over until
fully utilized, except that the credit may not be carried over more than eight
years after the end of the entitlement period.
009.07 The wage benefit credit shall not be
transferable.
Notes
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