20 Jan Hire a veteran credit
You are entitled to this nonrefundable credit if you or your business:
- hires a qualified veteran who begins his or her employment on or after January 1, 2014, but before January 1, 2016; and
- employs the qualified veteran in New York State for one year or more for at least 35 hours each week.
You may claim the credit in the tax year in which the qualified veteran completes one year of employment with you. The credit may be claimed for tax years beginning on or after January 1, 2015, but before January 1, 2017.
How much is the credit?
| If the qualified veteran is | Amount of credit is equal to |
| Disabled | 15% of the total wages paid to the veteran during his or her first full year of employment, but the credit cannot be more than $15,000 per veteran |
| Not disabled | 10% of the total wages paid to the veteran during his or her first full year of employment, but the credit cannot be more than $5,000 per veteran |
To claim the credit, the employer must have the veteran certify that he or she meets the requirements of a qualified veteran on form DTF-75.
Source: http://taxfoundation.org/article/2014-tax-brackets
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