Employer wage credit for employees who are active duty members of the uniformed services

For purposes of section 38, the differential wage payment credit for any taxable year is an amount equal to 20 percent of the sum of the eligible differential wage payments for each of the qualified employees of the taxpayer during such taxable year. For purposes of this section— The term “eligible differential wage payments” means, with respect to each qualified employee, so much of the differential wage payments (as defined in section 3401(h)(2)) paid to such employee for the taxable year as does not exceed $20,000. The term “qualified employee” means a person who has been an employee of the taxpayer for the 91-day period immediately preceding the period for which any differential wage payment is made. All persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 shall be treated as a single employer. The amount of credit otherwise allowable under this chapter with respect to compensation paid to any employee shall be reduced by the credit determined under this section with respect to such employee. No credit shall be allowed under subsection (a) to a taxpayer for— For purposes of this section, rules similar to the rules of subsections (c), (d), and (e) of section 52 shall apply.