Section 47-1817.03 - Tax credit to Qualified High Technology Companies for wages to qualified employees; exceptions(a) Except as provided in subsection (b) of this section, for taxable years beginning after December 31, 2000, and ending on December 31, 2019, a Qualified High Technology Company shall be allowed a credit against the tax imposed by § 47-1817.02 equal to 10% of the wages paid during the first 24 calendar months of employment to a qualified employee hired after December 31, 2000.(a-1) Except as provided in subsection (b) of this section, for taxable years beginning after December 31, 2019, a Qualified High Technology Company shall be allowed a credit against the tax imposed by § 47-1817.02 equal to 5% of the wages paid during the first 24 calendar months of employment to a qualified employee hired after December 31, 2017.(b) The credit under subsections (a) and (a-1) of this section shall not be allowed: (1) To exceed, for each qualified employee: (A) $5,000 in a taxable year for the credit under subsection (a) of this section.(B) $3,000 in a taxable year for the credit under subsection (a-1) of this section.(2) If the Qualified High Technology Company accords the qualified employee lesser benefits or rights than it accords other employees in similar jobs;(3) If the qualified employee was employed as the result of: (A) The displacement, other than for cause, of another employee;(C) A layoff in which other employees are awaiting recall; or(D) A reduction of the regular wages, benefits, or rights of other employees in similar jobs; or(4) If the qualified employee is a member of the board of directors of the Qualified High Technology Company or, directly or indirectly, owns a majority of its stock.(c) A credit allowable under this section may be carried forward for 10 years if: (1) The amount of the credit allowable under this section exceeds the tax otherwise due from a Qualified High Technology Company; and(2) The amount of the credit allowable under this section was obtained for wages of a qualified employee hired before October 1, 2019.Amended by D.C. Law 23-149,§ VII-M-7152, 67 DCR 10493, eff. 12/3/2020.Apr. 3, 2001, D.C. Law 13-256, § 202(b), 48 DCR 730; Sept. 11, 2019, D.C. Law 23-16, § 7212(a)(1), 66 DCR 8621.