§ 6-305
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§6–305.
(a)The provisions of this section do not apply to a tax credit claimed by a small business under § 6–303(b)(2) of this subtitle.
(b)If, during any of the 3 years after the credit year, the number of qualified positions of the qualified business entity falls more than 5% below the average number of qualified positions that existed during the credit year on which the credit was computed, the credit shall be recaptured as follows:
(1)the credit shall be recomputed and reduced by the percentage reduction of the number of qualified employees;
(2)the recomputed credit shall be subtracted from the amount of credit previously allowed; and
(3)the qualified business entity shall pay the difference as taxes payable to the State for the taxable year in which the number of qualified positions falls more than 5% below the average number of qualified positions during the credit year.
(c)If, during any of the 3 years after the credit year, the average number of qualified positions falls below the applicable threshold number of positions required under § 6–303(b)(1) of this subtitle, all credits earned shall be recaptured.
(d)During the 3 taxable years after the credit year, a qualified business entity shall provide any information required by the Department in regulation to verify that the qualified business entity is not subject to subsection
(b)or
(c)of this section.