Income taxes: credits: hiring credit.

The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws, including a credit for an increase in qualified employees, for a qualified employer who employs 20 or fewer employees. This bill would, under both laws, for taxable years beginning on and after January 1, 2011, and before January 1, 2015, allow a credit to a qualified employer, which means an employer of 30 or more employees who are located in California, of either $3,000 or $5,000, as specified, for each qualified employee, as defined, employed by the qualified employer, as specified. This bill would take effect immediately as a tax levy.