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Are employees of the taxpayers subsidiaries counted in the calculation of the employment tax credit?

April 26, 2017calculation employees employment subsidiaries tax credit taxpayer

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Are employees of the taxpayers subsidiaries counted in the calculation of the employment tax credit?

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Yes, they are included. The taxpayer’s subsidiaries are fully consolidated in the call report filed with our office and taxed on the Final Franchise Tax Return. The employees of the subsidiary are part of the banking organization and are included in the employment tax credit calculation.