(a)(1)(A) Notwithstanding any other provision of this chapter and for tax years ending on or before December 31, 2019, and in lieu of the tax on taxable income imposed by § 47-1807.2 [§ 47-1807.02]], subject to the credits applicable thereto, a tax on taxable income at a rate of 6% shall be imposed upon Qualified High Technology Companies which are corporations, except as provided for in paragraph (2) of this subsection.

(B) Notwithstanding any other provision of this chapter and, for tax years beginning after December 31, 2019, the tax on taxable income imposed by § 47-1807.02 shall be imposed upon Qualified High Technology Companies which are corporations, except as provided for in paragraphs (2) and (3) of this subsection.

(2)(A) A Qualified High Technology Company certified pursuant to § 47- 1805.05:

(i) Before January 1, 2012, shall not be subject to the tax imposed by this chapter for 5 years after the date that the Qualified High Technology Company commences business in the District; and

(ii) On or after January 1, 2012, shall not be subject to the tax imposed by this chapter for 5 years after the date that the Qualified High Technology Company has taxable income.

(B) The total amount that each Qualified High Technology Company may receive in exemptions under this paragraph shall not exceed $15 million.

(b) The transfer of ownership of a Qualified High Technology Company shall not affect eligibility under this section.

(c) The Mayor may issue regulations to carry out the provisions of this section.

(Apr. 3, 2001, D.C. Law 13-256, § 403(b), 48 DCR 730; Mar. 5, 2013, D.C. Law 19-211, § 2(d), 59 DCR 13281; Sept. 11, 2019, D.C. Law 23-16, § 7212(a)(2)(A), 66 DCR 8621.)

This section is referenced in § 47-340.26, § 47-1817.02, § 47-1817.03, § 47-1817.04, § 47-1817.05, § 47-1818.02, § 47-1818.06, and § 47-4630.

The 2013 amendment by D.C. Law 19-211 rewrote (a)(2).