Tax credit to Qualified High Technology Companies for wages to qualified employees; exceptions

(a) Except as provided in subsection (b) of this section, for taxable years beginning after December 31, 2000, a Qualified High Technology Company shall be allowed a credit against the tax imposed by § 47-1817.06 equal to 10% of the wages paid during the first 24 calendar months of employment to a qualified employee hired after December 31, 2000. (b) The credit under subsection (a) of this section shall not be allowed: (1) To exceed, for each qualified employee, $5,000 in a taxable year; (2) If the Qualified High Technology Company accords the qualified employee lesser benefits or rights than it accords other employees in similar jobs; (3) If the qualified employee was employed as the result of: (A) The displacement, other than for cause, of another employee; (B) A strike or lockout; (C) A layoff in which other employees are awaiting recall; or (D) A reduction of the regular wages, benefits, or rights of other employees in similar jobs; or (4) If the qualified employee is a member of the board of directors of the Qualified High Technology Company or, directly or indirectly, owns a majority of its stock. (c) If the amount of the credit allowable under this section exceeds the tax otherwise due from a Qualified High Technology Company, the unused amount of the credit may be carried forward for 10 years.