HI HB810

Establishes a temporary employment increase tax credit for employers who were in business in 2010 and increase both their number of employees and total wages paid by at least 10 percent in calendar year 2011 or 2012.

Tax credit equals 10 percent of the increase in total wages paid, with a maximum credit of $50,000 per taxable year and ability to carry forward unused credits to future years.

Employers who did not employ any person or pay wages in calendar year 2010 are ineligible for the credit.

Requires claims to be filed within 12 months following the close of the applicable taxable year, with compliance required for all federal, state, and county statutes and regulations.

Act applies to taxable years beginning after December 31, 2010 and ending before January 1, 2014, at which time the provision automatically repeals, though carryover credits may still be claimed after repeal.