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The DC Code: § 47-1817.06 Tax on Qualified High Technology Companies.

Index47 Taxation, Licensing, Permits, Assessments, and Fees. (Refs & Annos)
a
(1) Notwithstanding any other provision of this chapter, and in lieu of the tax on taxable income imposed by § 47-1807.02, subject to the credits applicable thereto, a tax on taxable income at a rate of 6% shall be imposed upon Qualified High Technology Companies which are corporations, except as provided for in paragraph (2) of this subsection.
2
(A) For purposes of this paragraph, the term "high technology development zones" mean the geographic areas described in the priority development areas listed in § 2-1219.20 and as designated under subparagraph (B) of this paragraph.
B
The Mayor may propose regulations designating additional high technology development zones. The Mayor shall transmit the proposed regulations to the Council for a 45-day period of review. If the Council does not approve the regulations, in whole or in part, by resolution within the 45-day review period, the regulations shall be deemed approved.
C
A Qualified High Technology Company within a high technology development zone shall not be subject to the tax imposed by this chapter for 5 years after the date that the Qualified High Technology Company commences business in the high technology development zone.
b
The transfer of ownership of a Qualified High Technology Company shall not affect eligibility under this section.
c
The Mayor may issue regulations to carry out the provisions of this section.

Historical and Statutory

Legislative History of Laws For Law 13-256, see notes following § 47-1817.01. DC CODE § 47-1817.06 Current through December 11, 2012

Credits

(Apr. 3, 2001, D.C. Law 13-256, § 403(b), 48 DCR 730.)