Monday, January 4, 2010

"Claw-Back" Process in Place

The City of Tacoma’s Tax & License Department is notifying businesses that have received the employment credit for new hires of family-wage jobs, of the action by the Tacoma City Council to rescind the “claw-back” provisions.

The economic conditions have forced some businesses to lay-off employees. If the two actions of having received the B&O credit and laying-off some of those employees overlap, the original city ordinance would have required the affected company to pay the tax once claimed as a credit.

Some companies may have already paid the “claw-back” and are eligible for return of that payment. A form for claiming that refund is here too.

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