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LM-REAP-SEB - Lower Manhattan Relocation and Employment Assistance Program Benefits for Special Eligible Businesses Page 5
PART II - SECTION C: DEFINITION OF TERMS
1. Special Eligible Business: The term “Special Eligible 6. Aggregate Employment Shares: The term “aggregate
Business” means a business that maintained employees employment shares” means the sum of all employment
in premises in Manhattan at some time between January shares maintained by an eligible business in a taxable year.
1, 2002 and the date it enters into a contract to lease or 7. Relocated Employee: The term “relocated employee”
purchase premises that will qualify as eligible premises, means an employee of a special eligible business who:
and that meets the criteria of Part I, Sections B and C of 1) has worked at a qualifying business location outside
this application. New York City, full-time, or part-time, continuously for
the 10 work weeks prior to the date of relocation and
2. Employee: The term “employee” includes any individual thereafter until that employee’s actual transfer to the
where the existing relationship between that individual eligible premises,
and the business is that of employer and employee.
Generally, an employer-employee relationship exists 2) is transferred to eligible premises and
when the eligible business has the right to control and 3) continues to work at the eligible premises for at least
direct the individual, not only as to the result to be accom- 10 full work weeks after the date of transfer.
plished, but also as to the means by which such result is
to be accomplished. If the relationship of employer- 8. Qualifying Business Location: The term “qualifying
employee exists, the designation or description of the business location” means a business location of the spe-
relationship is immaterial. Directors of a corporation in cial eligible business outside the city at which such busi-
their capacity as directors are not employees of a busi- ness has been carrying on substantial business opera-
ness. Directors of a corporation may be considered tions for the 24 months immediately preceding the year of
employees if, in addition to serving in the capacity of relocation.
directors, they serve in the capacity of employees.
9. Relocated Employee Base Shares: The term
3. Eligible Worker: The term “eligible worker” means an “Relocated Employee Base Shares” means the sum of:
employee, partner or sole proprietor of the eligible busi-
ness. a) the number of full time work weeks worked by relocat-
ed employees in the eligible premises in the 12 cal-
4. Work Week: The term “work week” means a period of endar months after the month of relocation divided by
seven or fewer successive days, beginning with a speci- the number of weeks in such twelve months, and
fied day, which the eligible business has adopted and reg-
ularly utilizes as its work week. b) the number of part-time work weeks worked by relo-
cated employees in the eligible premises in the 12
l A full-time work week is a work week during which an calendar months after the month of relocation divided
eligible worker has performed at least 35 hours of by twice the number of weeks in such twelve months.
labor for compensation.
Note: No special eligible business will be authorized to
l A part-time work week is a work week during which an receive a credit unless it is established that the number of
eligible worker has performed at least 15 but fewer Relocated Employee Base Shares is equal to or greater than
than 35 hours of labor for compensation. either: (i) 250 or (ii) 25% of the number of New York City Base
l Hours in excess of 35 worked by an eligible worker Shares, whichever is less.
during a work week cannot be carried over and count-
ed during any other work week. 10. Eligible Lower Manhattan Area: The term “eligible
Lower Manhattan area” refers to the area in Manhattan
l Terminal leave preceding the termination of a worker’s lying south of a line that runs from the intersection of the
employment may not be counted as time worked by the Hudson River with the Holland Tunnel, running north
worker. A work week which begins in one taxable year along West Avenue to the intersection of Clarkson Street,
and ends in the following taxable year shall be treated then running east along the center line of Clarkson Street
as a work week in the taxable year in which it ends. to the intersection of Washington Street, then running
south along the center line of Washington Street to the
5. Employment Shares: The term “employment share” intersection of West Houston Street, then east along the
means, with respect to each eligible worker in a special center line of West Houston Street, then, at the intersec-
eligible business, the sum of: tion of the Avenue of the Americas, continuing east along
the center line of East Houston Street to the easterly bank
a) the number of full-time work weeks worked by such of the East River.
eligible worker during the eligible business’ taxable
year, divided by the number of weeks in the taxable 11. Taxable Year: The term “taxable year” refers to the tax-
year, and payer’s taxable year for the General Corporation Tax, the
b) the number of part-time work weeks worked by such Unincorporated Business Tax, or the Banking Corporation
eligible worker during the business’ taxable year, Tax (whichever is applicable), provided, however, in the
divided by an amount equal to twice the number of case of a taxpayer subject to the Utility Tax, “taxable year”
weeks in the taxable year. refers to the calendar year.
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