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NY A02376
Bill
Status
Introduced
1/14/2013
Primary Sponsor
Marcos Crespo
Click for details
AI Summary
- Creates a tax credit equal to 6.85 percent of gross wages paid for each new full-time employee hired between July 1, 2013 and April 1, 2014, with a maximum of $5,000 per employee per year
- Allows taxpayers subject to Article 9-A or 22 tax to claim the credit for three consecutive years of employment for each new employee
- Provides an additional $3,000 credit for the first full year of employment if the new employee was receiving unemployment insurance benefits at the time of hire during calendar years 2014 and 2015
- Permits taxpayers to offset quarterly estimated tax returns with credit amounts earned in previous quarters and treats excess credits as overpayments eligible for refund without interest
- Prohibits taxpayers from claiming this credit and any other employment-increase-based credit for the same new employee
Legislative Description
Establishes a hire-now tax credit.
Last Action
held for consideration in ways and means
6/17/2014
Committee Referrals
Ways and Means1/14/2013
Full Bill Text
No bill text available