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AB 538 - modifying the jobs credit to provide an increased credit to small businesses.

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Sponsor

  • Smith
  • Barca
  • Kahl
  • Jorgensen
  • Hebl
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Brief Summary: Under this bill, a person who operates a small business in this state may claim the jobs tax credit in an amount not to exceed 15 percent of the wages paid to eligible full−time employees in this state. The total amount of the credit may not exceed $10,000 per eligible employee. Under the bill, a “small business" is defined as a business entity that is independently owned and operated and not dominant in its field, and that employs 25 or fewer eligible employees or that has gross annual sales of less than $5,000,000.