Sec. 6. (a) This section applies to a taxpayer that does not meet the requirements under section 5(a) of this chapter and employs five hundred (500) or less total employees.
(b) The amount of the tax credit is determined according to the following:
(1) In the first taxable year for which the credit is claimed with respect to wages paid to a particular employee, an amount equal to twenty percent (20%) of the wages paid to the employee during the taxable year.
(2) In the second taxable year for which the credit is claimed with respect to wages paid to a particular employee, an amount equal to thirty percent (30%) of the wages paid to the employee during the taxable year.
(3) In the third and each subsequent taxable year for which the credit is claimed with respect to wages paid to a particular employee, an amount equal to forty percent (40%) of the wages paid to the employee during the taxable year.