House committee substitute to the 1st edition makes the following changes. Amends proposed GS 105-129.16K to allow the credit for employing apprentices employed by the taxpayer for at least nine (was, seven) months of the taxable year. Sets the statute to expire for taxable years beginning on or after January 1, 2018.
Provides that the act applies to apprentices hired on or after the January 1, 2014, effective date.
Bill H 341 (2013-2014)Summary date: May 8 2013 - View summary
Bill H 341 (2013-2014)Summary date: Mar 19 2013 - View summary
Enacts new GS 105-129.16K to establish a $1,000 tax credit for each employed apprentice for a taxpayer employing an apprentice under an apprenticeship agreement registered with the Apprenticeship and Training Bureau of the Department of Labor. The credit is allowed only if the apprentice was in the taxpayer's employ for at least seven months of the taxable year and allows the credit for an individual apprentice for up to four taxable years. Requires that written certification be made in order to claim the credit. Effective for taxable years beginning on or after January 1, 2014.