I-3 - Taxation Act

Section 1049.11.1 Disposition versions

2011-04-01

1049.11.1. Every qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), is liable to a penalty equal to 40% of the total amount of a qualified investment where

(a)  in the 12 months preceding the date of the qualified investment or in the months preceding that date in the case of a corporation that has been in operation for less than 12 months, not more than 50%, or a lower percentage determined under paragraph 3 of section 13.2 of the Act respecting Québec business investment companies by the body designated under section 1 of that Act, of the wages paid to its employees and of the wages paid to the employees of corporations with which it is associated, were paid to employees of an establishment situated in Québec; or

(b)  in the 12 months following the date of such an investment, not more than 50% of the wages paid to its employees and of the wages paid to the employees of corporations with which it is associated, were paid to employees of an establishment situated in Québec.

1987, c. 21, s. 79; 2000, c. 39, s. 215; 2002, c. 40, s. 227; 2006, c. 13, s. 201; 2010, c. 37, s. 116.

2006-06-13

1049.11.1. Every qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), is liable to a penalty equal to 40% of the total amount of a qualified investment where

(a)  in the 12 months preceding the date of the qualified investment or in the months preceding that date in the case of a corporation that has been in operation for less than 12 months, not more than 50%, or a lower percentage determined by Investissement Québec under paragraph 3 of section 13.2 of the Act respecting Québec business investment companies, of the wages paid to its employees and of the wages paid to the employees of corporations with which it is associated, were paid to employees of an establishment situated in Québec; or

(b)  in the 12 months following the date of such an investment, not more than 50% of the wages paid to its employees and of the wages paid to the employees of corporations with which it is associated, were paid to employees of an establishment situated in Québec.

1987, c. 21, s. 79; 2000, c. 39, s. 215; 2002, c. 40, s. 227; 2006, c. 13, s. 201.

2006-03-01

1049.11.1. Every qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), is liable to a penalty equal to 40% of the total amount of a qualified investment where

(a)  in the 12 months preceding the date of the qualified investment or in the months preceding that date in the case of a corporation that has been in operation for less than 12 months, the corporation did not pay at least 50%, or a lower percentage determined by Investissement Québec under paragraph 3 of section 13.2 of the Act respecting Québec business investment companies, of the wages paid to its employees to employees of an establishment situated in Québec; or

(b)  in the 12 months following the date of the investment, the corporation did not pay at least 50% of the wages paid to its employees to employees of an establishment situated in Québec.

1987, c. 21, s. 79; 2000, c. 39, s. 215; 2002, c. 40, s. 227.