NY A04010

Creates two new wage tax credits under New York tax law for employers: one for employing New York National Guard and Reserve members, and one for employing volunteer firefighters and EMS first responder personnel.

Provides a credit of $1,500 per employee for each National Guard member, reservist, volunteer firefighter, or EMS first responder employed by a taxpayer.

Requires employers hiring National Guard and Reserve members to comply with the Uniformed Services Employment and Reemployment Rights Act (federal law).

Allows excess credits that exceed tax liability in any year to be refunded as overpayments or carried forward to subsequent tax years, with no interest paid on refunded amounts.

Effective immediately and applies to taxable years beginning January 1, 2012.