Provides tax credits to employers of employees under 18 to offset wage increases.
Establishes a program to provide tax credits to employers of employees under 18 to offset the cost of wage increases caused by minimum wage hikes. Employers can claim a credit against corporation business tax or gross income tax. The total annual tax credits cannot exceed $10 million. The program runs until January 1, 2034. Employers must meet certain wage and hour requirements to qualify for the credits. Misclassification of employees can result in penalties.
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