NY A08933

Allows businesses a tax credit for hiring veterans and wounded veterans who are employed at least 35 hours per week for 12 or more months.

Credit amounts range from $2,400 to $9,600 per veteran hired, depending on unemployment duration and disability status, with a maximum credit of $15,000.

Short-term unemployed veterans (4 weeks to 6 months) qualify for $2,400; long-term unemployed veterans (over 6 months) qualify for $4,800; short-term unemployed wounded veterans qualify for $4,800; long-term unemployed wounded veterans qualify for $9,600.

Unused credits may be carried forward to the next five taxable years and cannot reduce tax liability below zero.

Applies to both corporate franchise tax (Section 210) and business and professions tax (Section 606) for taxable years beginning January 1, 2013 or later.