MN HF10

Establishes a state income tax credit for employers who hire qualified veterans as employees during the taxable year.

Credit amounts equal 10% of wages paid to the qualified employee, with maximum credits of $3,000 for disabled veterans, $1,500 for unemployed veterans, and $500 for other veterans.

Qualified employees must be Minnesota residents at time of hire, cannot be related to the employer, and cannot own more than 50% of the business.

Employers can claim the credit in either the year of hire or the immediately following year, but not both years, and cannot claim credits for previously employed veterans.

Credits pass through to partners, members, shareholders, or owners of partnerships, LLCs, S corporations, and multi-owner businesses on a pro rata basis.