SB 189 Summary

• Reduces the minimum number of qualified employees required for new businesses to claim the employer tax credit from 10 to 1 employee, effective for taxable years beginning after December 31, 2012.

• Excludes individuals hired as seasonal workers from the definition of "qualified employee" for taxable years beginning after December 31, 2012.

• Extends the deadline for businesses to apply for the credit and for the Indiana Economic Development Corporation (IEDC) to issue certificates of approval from January 1, 2013 to January 1, 2015.

• Maintains existing requirements that qualified employees must be full-time, newly hired Indiana residents who are not majority shareholders, and cannot be rehired or filling positions vacated by recent layoffs.

• Effective date: July 1, 2012.