ID H0088

Repeals prior Section 63-3029F and establishes the "Hire One More Employee Act of 2013," creating a new income tax credit for non-profit employers hiring new employees between January 1, 2013 and January 1, 2018.

Credits equal 4% of qualifying new employee gross salary, plus an additional $1,000 for each eligible veteran as defined under 38 U.S.C. section 4211(4).

Qualifying new employees must be hired after January 1, 2013, work in Idaho counties with unemployment rates of 8% or higher (earning minimum $12/hour) or below 8% (earning minimum $15/hour), and work at least 20 hours per week or full-time for at least 9 consecutive months.

Credits are limited annually to tax due under specified Idaho Code sections, with excess amounts carried forward up to 5 succeeding years; employers with decreased employment levels in following years must recalculate carryover credits downward.

Excludes employees previously employed by the taxpayer, acquired through business acquisitions, or transferred from related taxpayers within 12 months; applies retroactively to January 1, 2013.