1106.1 Notwithstanding any other provision of this chapter, and in lieu of the tax on taxable income imposed by D.C. Official Code § 47-1807.2, subject to the credits applicable thereto, a tax on taxable income at a rate of six percent (6%) shall be imposed upon QHTCs that are corporations.

1106.2 A QHTC within a high technology development zone shall not be subject to the franchise tax imposed by Chapter 18 of Title 47 of the D.C. Official Code for five (5) years after the date that the QHTC commences business in the high technology development zone.

1106.3 The QHTC will be deemed to commence business on the first day of the taxable year for which a tax return is filed claiming benefits as a QHTC.

1106.4 The transfer of ownership of a QHTC shall not affect the provisions of this section.

SOURCE: Final Rulemaking published at 49 DCR 2142 (March 8, 2002).