a. An eligible person is allowed a credit against the Washington State Business and Occupation Tax as defined by RCW 82.04 et. seq. The tax credit is based on qualified employment positions in the international service zone that is designated in this chapter. The tax credit is available to persons who are engaged in international services as defined in this chapter. In order to receive the credit, the international service activities must take place at a business within the international service zone.

b. The tax credit shall equal three thousand dollars ($3,000.00) for each qualified employment position created after July 1, 1998, in the international service zone. A credit is earned for the calendar year the person is hired to fill the position, plus the four (4) subsequent consecutive years, if the position is maintained for those four (4) years.

c. The tax credit may not be taken for hiring of persons into positions that exist on July 1, 1998. The tax credit is authorized for new employees hired for new positions created after July 1, 1998. New positions filled by existing employees are eligible for the tax credit under this section only if the position vacated by the existing employee is filled by a new hire.

d. When a position is newly created, if it is filled before July 1, 1998, this position is eligible for the full yearly tax credit. If a newly created position is created after June 30, 1998, then this position is eligible for half of the tax credit.

e. Tax credit(s) may be accrued and carried over until the tax credit(s) are used. No refunds may be granted for tax credits under this section. (Ord. M-3407, 1998)