MN HF270

Establishes a tax credit for qualified employers in Minnesota who hire disabled veterans or unemployed veterans as qualified employees.

Provides a credit equal to 10 percent of wages paid to a disabled veteran (capped at $3,000) or 10 percent of wages paid to an unemployed veteran (capped at $1,500) per taxable year.

Defines qualified employees as Minnesota residents on date of hire who receive wages attributable to Minnesota, excluding related parties and those with significant ownership stakes in the employer.

Limits credit to one type per veteran hired and prohibits credits for veterans previously employed by the same employer.

Credits pass through to partners, members, shareholders, or owners of pass-through entities on a pro rata basis and are effective for taxable years beginning after December 31, 2016.