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LM-REAP-EB - Lower Manhattan Relocation and Employment Assistance Program Benefits for Eligible Businesses Page 5
PART II - SECTION C: DEFINITION OF TERMS
1. Employee: The term “employee” includes any indi- 5. Employment Shares: The term “employment share”
vidual where the existing relationship between that means, with respect to each employee, partner or
individual and the eligible business is that of em- sole proprietor of an eligible business, the sum of:
ployer and employee. Generally, an employer-em-
ployee relationship exists when the eligible a) the number of full-time work weeks worked by
business has the right to control and direct the indi- such employee, partner or sole proprietor during
vidual, not only as to the result to be accomplished, the eligible business’ taxable year, divided by the
but also as to the means by which such result is to number of weeks in the taxable year, and
be accomplished. If the relationship of employer-
employee exists, the designation or description of b) the number of part-time work weeks worked by
the relationship is immaterial. Directors of a corpo- such employee, partner or sole proprietor during
ration in their capacity as directors are not employ- the eligible business’ taxable year, divided by an
ees of an eligible business. Directors of a amount equal to twice the number of weeks in
corporation may be considered employees if, in ad- the taxable year.
dition to serving in the capacity of directors, they
serve in the capacity of employees. 6. Aggregate Employment Shares: The term “ag-
gregate employment shares” means the sum of all
2. Eligible worker: the term “eligible worker” means employment shares maintained by an eligible busi-
an employee, partner or sole proprietor of the eligi- ness in a taxable year.
ble business.
7. Eligible Lower Manhattan Area: The term “eligible
3. Work Week: The term “work week” means a period Lower Manhattan area” refers to the area in Man-
of seven or fewer successive days, beginning with hattan lying south of a line that runs from the inter-
a specified day, which the eligible business has section of the Hudson River with the Holland Tunnel,
adopted and regularly utilizes as its work week. running north along West Avenue to the intersection
of Clarkson Street, then running east along the cen-
l A full-time work week is a work week during ter line of Clarkson Street to the intersection of Wash-
which an eligible worker has performed at least ington Street, then running south along the center
35 hours of labor for compensation. line of Washington Street to the intersection of West
Houston Street, then east along the center line of
l A part-time work week is a work week during West Houston Street, then, at the intersection of the
which an eligible worker has performed at least Avenue of the Americas, continuing east along the
15 but fewer than 35 hours of labor for compen- center line of East Houston Street to the easterly
sation. bank of the East River.
l Hours in excess of 35 worked by an eligible
worker during a work week cannot be carried
over and counted during any other work week.
l Terminal leave preceding the termination of a
worker’s employment may not be counted as
time worked by the worker. A work week which
begins in one taxable year and ends in the fol-
lowing taxable year shall be treated as a work
week in the taxable year in which it ends.
4. Taxable Year: The term “taxable year” refers to the
taxpayer’s taxable year for the General Corporation
Tax, the Unincorporated Business Tax, or the Bank-
ing Corporation Tax (whichever is applicable), pro-
vided, however, in the case of a taxpayer subject to
the Utility Tax, “taxable year” refers to the calendar
year.
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