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MN SF2497
Bill
Status
Introduced
3/19/2012
Primary Sponsor
Michelle Benson
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AI Summary
- Provides a tax credit to employers in Minnesota for hiring qualified veterans against state income tax liability
- Defines "qualified veteran" using the same definition from Section 51 of the Internal Revenue Code
- Sets the credit amount equal to the federal credit under Section 51 of the Internal Revenue Code without regard to federal liability limitations, but limited to the portion allowed for veteran employment
- Credit applies regardless of whether the federal credit is allowed for wages paid during the taxable year
- Effective for taxable years beginning after December 31, 2011, with the stated purpose of incentivizing employers to hire returning veterans and encourage their reintegration into the community
Legislative Description
Veteran employment income tax credit
Last Action
Referred to Taxes
3/19/2012
Committee Referrals
Taxes3/19/2012
Full Bill Text
No bill text available