NY A08837

Establishes a tax credit for businesses hiring veterans or wounded veterans, worth $3,000 per veteran and $4,000 per wounded veteran, with an annual cap of $15,000.

Veterans must be newly hired, work at least 35 hours per week, and remain employed for 12 months or more; wounded veterans must work at least 17.5 hours per week for the same duration.

Defines "veteran" as those who served during a period of war or in a presidential-designated combat zone, and "wounded veteran" as those with a service-connected disability certified by the VA or Department of Defense.

Allows unused credits to be carried forward to each of the 10 succeeding taxable years, but credits cannot reduce tax liability below zero.

Applies to taxable years beginning January 1, 2012 and to employees hired after the act takes effect, applying to both general tax law and corporate franchise tax law.