Fillable Delaware Form 2080de - New Economy Jobs Program Application (Page 2 of 2) in pdf

Instructions: Complete form and mail an original and a copy to addresses indicated below. Once reviewed and if

approved the Delaware Division of Revenue will mail Certification with Tax Credit Forms and Instructions.

The Secretary of Finance shall annually review the certification of qualified employers for eligibility for New Economy Jobs

Program credits before credits are allowed.

(a)

Credits allowable during the first certified year will be prorated upon the basis of the number of months before

and after certification.

(b)

For any single calendar year subsequent to its first certified year in which a qualified employer hires and

employs no fewer than 50 additional qualified employees in new eligible jobs, the qualified employer may:

a. Elect to treat such additional qualified employees either as an addition to its existing number of qualified

employees under its existing certification; or

b. Make a separate application pursuant to this section and § 2083 of this title for certification and credits

with respect to such additional qualified employees.

No qualified employee in any certified year who was employed in Delaware in the base year by a member of an affiliated

group which conducted or conducts business in this State during the base year or any year thereafter shall be counted as

newly hired or employed qualified employees or qualified employees in new eligible jobs for purposes of calculating the

New Economy Jobs Program credits.

"Affiliated group" has the meaning provided by § 1504 of the Internal Revenue Code (26 U.S.C. § 1504), but including for

this purpose pass-through entities, as defined in § 1601 of this title that would be includible if they were classified as

corporations, the equity interests in which would be treated as stock, and the ownership of such interests would satisfy the

stock ownership requirements of the said 26 U.S.C. § 1504.

“Base Year” is the calendar year immediately preceding a qualified employer's first certified year.

“Certified Year” means a calendar year for which an employer is certified to be eligible for New Economy Jobs Program

credits.”

"Qualified employee" means a common-law employee employed in an “Eligible Job” in Delaware. "Eligible job" means any

single position held by a common-law employee in Delaware for which the compensation equals or exceeds the salary

threshold. More than 1 consecutive employee may perform an eligible job during a single calendar year so long as the

total compensation of all consecutive employees performing such eligible jobs during such calendar year equals or

exceeds the salary threshold.

"Eligible job" means any single position held by a common-law employee in this State for which the compensation equals

or exceeds the salary threshold. More than 1 consecutive employee may perform an eligible job during a single calendar

year so long as the total compensation of all consecutive employees performing such eligible jobs during such calendar

year equals or exceeds the salary threshold.

"Inflation adjustment factor" means an amount equal to the Consumer Price Index prepared by the Bureau of Labor

Statistics, U.S. Department of Labor for urban consumers, U.S. city average, all items, that corresponds to the calendar

year for which the credit is calculated divided by the equivalent Consumer Price Index figure for 2007. Final calculations of

the inflation adjustment factor for a calendar year shall be based on data available April 1 of the following calendar year.

"Salary threshold" means the amount of Delaware sourced compensation paid to a common law employee, rounded to

the nearest $100, calculated by multiplying $100,000 times the inflation adjustment factor.

Mail Original Certification to:

Delaware Division of Revenue,

Business Audit Bureau

Floor

Carvel State Office Building, 8

820 N. French Street

Wilmington, DE 19801

Mail Copy of Certification to:

Office of Director

Delaware Economic Development Office

99 Kings Highway

Dover, DE 19901

Delaware Form 2080de - New Economy Jobs Program Application Page 2

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