Sec. 30a Puerto Rico wage-based tax credit enhancement proposed in Clinton budget.
This article was originally published in The Tan Sheet
Executive Summary
PUERTO RICO WAGE TAX CREDIT (SEC. 30a) WOULD BE PERMANENT AT 60% under a proposal in the FY 1998 budget released by the Clinton Administration Feb. 6. Sec. 30a is the new tax code section created in 1996 to house the wage-based credit available to companies operating in Puerto Rico and other U.S. possessions. It was established under the phased-in repeal of the Sec. 936 tax credit enacted by the 104th Congress ("The Tan Sheet" June 17, 1996, p. 9).
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