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§42-64.11-4  Partial modification of performance-based compensation. –

Published: 2015

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State Affairs and Government

CHAPTER 42-64.11

Jobs Growth Act

SECTION 42-64.11-4

   § 42-64.11-4  Partial modification of

performance-based compensation. –

(a) Fifty percent (50%) of the performance-based compensation realized by an

eligible employee in any credit year shall be allowed as a modification

decreasing adjusted gross income and alternative minimum income for purposes of

the personal income tax.

   (b) The modification provided under subsection (a) shall be

taken into account in determining withholding under § 44-30-71 to be

deducted by a fully-certified company with respect to performance-based

compensation paid to eligible employees.

   (c) The amount of income, otherwise qualifying as

performance-based compensation, derived from employer granted stock options is

subject to the fifty percent (50%) modification provided for in subsection (a)

only to the extent that the same amount is subject to tax under §


History of Section.

(P.L. 2005, ch. 53, § 1; P.L. 2005, ch. 54, § 1.)