NY A01355

Creates a $1,500 per employee wage tax credit for employers who employ New York National Guard and Reserve members, provided they comply with the Uniformed Services Employment and Reemployment Rights Act.

Creates a $1,500 per employee wage tax credit for employers who employ volunteer firefighters and Emergency Medical Services (EMS) first responder personnel.

Allows excess credits that exceed a taxpayer's annual tax liability to be treated as an overpayment, refunded without interest, or carried over to subsequent taxable years.

Applies to both corporate franchise tax (Section 210) and personal income tax (Section 606) in New York.

Takes effect immediately and applies to taxable years beginning on or after January 1, 2014.