Form Reap-Eb - Lower Manhattan Relocation And Employment Assistance Program For Eligible Businesses Page 5
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5LM-REAP-EB - Lower Manhattan Relocation and Employment Assistance Program Benefits for Eligible Businesses
Page 5
PART II - SECTION C: DEFINITION OF TERMS
1. Employee: The term “employee” includes any indi-
5. Employment Shares: The term “employment share”
vidual where the existing relationship between that
means, with respect to each employee, partner or
individual and the eligible business is that of em-
sole proprietor of an eligible business, the sum of:
ployer and employee. Generally, an employer-em-
a ) the number of full-time work weeks worked by
ployee relationship exists when the eligible
business has the right to control and direct the indi-
such employee, partner or sole proprietor during
vidual, not only as to the result to be accomplished,
the eligible business’ taxable year, divided by the
but also as to the means by which such result is to
number of weeks in the taxable year, and
be accomplished. If the relationship of employer-
b ) the number of part-time work weeks worked by
employee exists, the designation or description of
such employee, partner or sole proprietor during
the relationship is immaterial. Directors of a corpo-
the eligible business’ taxable year, divided by an
ration in their capacity as directors are not employ-
amount equal to twice the number of weeks in
ees of an eligible business.
Directors of a
the taxable year.
corporation may be considered employees if, in ad-
dition to serving in the capacity of directors, they
6. Aggregate Employment Shares: The term “ag-
serve in the capacity of employees.
gregate employment shares” means the sum of all
employment shares maintained by an eligible busi-
2. Eligible worker: the term “eligible worker” means
ness in a taxable year.
an employee, partner or sole proprietor of the eligi-
ble business.
7. Eligible Lower Manhattan Area: The term “eligible
Lower Manhattan area” refers to the area in Man-
3. Work Week: The term “work week” means a period
hattan lying south of a line that runs from the inter-
of seven or fewer successive days, beginning with
section of the Hudson River with the Holland Tunnel,
a specified day, which the eligible business has
running north along West Avenue to the intersection
adopted and regularly utilizes as its work week.
of Clarkson Street, then running east along the cen-
ter line of Clarkson Street to the intersection of Wash-
A full-time work week is a work week during
ington Street, then running south along the center
l
which an eligible worker has performed at least
line of Washington Street to the intersection of West
35 hours of labor for compensation.
Houston Street, then east along the center line of
West Houston Street, then, at the intersection of the
A part-time work week is a work week during
Avenue of the Americas, continuing east along the
l
which an eligible worker has performed at least
center line of East Houston Street to the easterly
15 but fewer than 35 hours of labor for compen-
bank of the East River.
sation.
Hours in excess of 35 worked by an eligible
l
worker during a work week cannot be carried
over and counted during any other work week.
Terminal leave preceding the termination of a
l
worker’s employment may not be counted as
time worked by the worker. A work week which
begins in one taxable year and ends in the fol-
lowing taxable year shall be treated as a work
week in the taxable year in which it ends.
4. Taxable Year: The term “taxable year” refers to the
taxpayer’s taxable year for the General Corporation
Tax, the Unincorporated Business Tax, or the Bank-
ing Corporation Tax (whichever is applicable), pro-
vided, however, in the case of a taxpayer subject to
the Utility Tax, “taxable year” refers to the calendar
year.
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