Section 42-64.5-1. – Short title.

§ 42-64.5-1. Short title. This chapter shall be known as the “Jobs Development Act”. History of Section.P.L. 1994, ch. 84, § 1.

Section 42-64.5-2. – Definitions.

§ 42-64.5-2. Definitions. As used in this chapter, unless the context clearly indicates otherwise: (1) “Adjusted current employment” means, for any taxable year ending on or after July 1, 1995, the aggregate of the average daily number of full-time equivalent active employees employed within the State by an eligible company and its eligible subsidiaries during […]

Section 42-64.5-3. – Tax rate reduction.

§ 42-64.5-3. Tax rate reduction. The rate of tax payable by an eligible company and each of its eligible subsidiaries for any taxable year ending on or after July 1, 1995, on its net income pursuant to the applicable income tax provisions of the general laws, including the provisions of §§ 44-11-2(a), 44-14-3(a), 44-14-4 and […]

Section 42-64.5-4. – Reduction rate schedule.

§ 42-64.5-4. Reduction rate schedule. (a)(i) The amount of the rate reduction specified in § 42-64.5-3 for any eligible company that is not a telecommunications company for each taxable year ending on or after July 1, 1995, shall be based upon the aggregate amount of new employment of the eligible company and its eligible subsidiaries […]

Section 42-64.5-5. – Election.

§ 42-64.5-5. Election. (a) An eligible company may elect to determine its “base employment” for the purposes of this chapter on July 1 of any year subsequent to 1994, rather than on July 1, 1994; provided, however, that an eligible company that is a telecommunication company shall determine its base employment on either July 1, […]

Section 42-64.5-6. – Severability.

§ 42-64.5-6. Severability. If any provision of this chapter or the application of any section or part of this chapter to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application. History of Section.P.L. 1994, […]

Section 42-64.5-7. – Business reorganizations.

§ 42-64.5-7. Business reorganizations. (a) If: (i) An eligible company (hereinafter referred to as the “resulting company”) continues, succeeds to or acquires all or substantially all of the business of one or more eligible companies including all of its eligible subsidiaries (each such eligible company, together with its eligible subsidiaries being hereinafter referred to as […]

Section 42-64.5-8. – Reporting requirement.

§ 42-64.5-8. Reporting requirement. On or before September 1, 2009, and every September 1 thereafter, all eligible companies qualifying for a rate reduction pursuant to § 42-64.5-3 shall file an annual report with the tax administrator. Said report shall contain each full-time equivalent active employee’s name, social security number, date of hire, and hourly wage […]