Bill Type
Long Title
FULL TITLE : AN ACT GRANTING TAX INCENTIVES TO PRIVATE EMPLOYERS THAT HIRE K+12 GRADUATES, APPROPRIATING FUNDS THEREFOR, AND FOR OTHER PURPOSES
Congress Author
Date filed
June 21, 2018
Scope

Legislative History

House Bill/Resolution NO. HB07879
FULL TITLE : AN ACT GRANTING TAX INCENTIVES TO PRIVATE EMPLOYERS THAT HIRE K+12 GRADUATES, APPROPRIATING FUNDS THEREFOR, AND FOR OTHER PURPOSES
ABSTRACT : Grants private employers who hire and employ K+12 graduates a special deduction from the computation of their gross income, equivalent to twenty percent (20%) of the total amount paid as salaries and wages to the aforementioned graduates, subject to Section 4 of the National Internal Revenue Code. Tax deductions shall not exceed ten percent (10%) of the employer"s taxable income.
ALIAS NAME : "K-12 Employers" Tax Incentives Act of 2018."
PRINCIPAL AUTHOR/S : VARGAS, ALFRED D.
DATE FILED : 2018-06-21
SIGNIFICANCE: NATIONAL
CO-AUTHORS (Journal Entries) :
1. Sy-Alvarado (000 2018-08-15) 2. Tambunting (000 2018-08-15)
ACTIONS TAKEN BY THE COMMITTEE ON RULES
REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2018-07-30

Abstract

Grants private employers who hire and employ K+12 graduates a special deduction from the computation of their gross income, equivalent to twenty percent (20%) of the total amount paid as salaries and wages to the aforementioned graduates, subject to Section 4 of the National Internal Revenue Code. Tax deductions shall not exceed ten percent (10%) of the employer"s taxable income

Disclaimer

Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.