Monthly Small Business Jobs Tax Credit Form

Monthly Small Business Jobs Tax Credit Form - 2006 Page 2

STEP I, Part A (cont.)

2006 (tax year) threshold:

8. State’s per capita income at the end of the taxpayer’s tax year (see STEP 1, Part A

instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. County’s per capita income at the end of the taxpayer’s tax year (see STEP 1, Part A

instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Lesser of Line 8 or Line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10.

11. 120% threshold percentage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X

11.

120%

12. Multiply Line 10 by Line 11. This is the 120% threshold (Round to nearest whole dollar) . . . .

12.

13. Number of months in a year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ÷

13.

14. Divide Line 12 by Line 13. This is the monthly 120% threshold (Round to nearest whole

dollar). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14.

In the tax year, if gross wages are paid for the full month at or above the amount on Line 14, a new job qualifies for the

100% credit. If gross wages are paid for the full month below the amount on Line 14, a new job qualifies for the 50%

credit.

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Monthly Small Business Jobs Tax Credit Form - 2006 Page 2