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Establishes an employment of New York national guard and reserve members wage tax credit
In Assembly Committee · Ways And Means · Sponsor Angelo Santabarbara
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6796
Title of bill
An act to amend the tax law, in relation to creating a wage tax credit for employers who employ New York national guard men and women and reservists
Purpose or general idea of bill
To establish a wage tax credit for businesses that employ members of the National Guard and Reserves, retain those who have been deployed or activated, and for those businesses that fully comply with the USERRA (Uniformed Services Employment and Reemployment Rights Act) reemployment requirements.
Summary of specific provisions
Section 1- Section 210 of the tax law is amended by adding subdivision 48. Employment of New York National Guard and reserve members wage tax credit. A taxpayer shall be allowed a credit, to be computed as provided in this subdivision, against the tax imposed by this article, if it employs members of the New York National Guard or reserves. Provided, however, such taxpayer shall comply with Uniformed Services Employment and Reemployment Rights Act, as found in section 4301 et seq. of title 18 United States Code.
Section 2- Subparagraph (B) of paragraph 1 of subsection (i) of section 606 4 of the tax law is amended by adding a new clause (xxxvii).
Section 3- Amount and application of Credit: a wage tax credit for employment of New York National Guard and reserve members of fifteen hundred dollars, and a wage tax credit for employment of New York National Guard and reserve members who have completed a deployment or activation of twenty-five hundred dollars.
Section 4- Effective date.
Justification
To encourage the employment of the men and women who serve our state and nation as National Guard and Army reservists by giving employers a wage tax credit for hiring these individuals. Moreover, this legislation seeks to encourage employers to retain these National Guard and army reservists after a deployment or activation by providing an additional tax credit. Guard and Army Reservists may be called away at any for their routine or extraordinary obligations as members of our armed services which may put them at a disadvantage when seeking employment. These tax credits will help to even the playing field for those who have decided to serve.
Prior legislative history
None
Fiscal implications
This bill would impact the amount of tax revenue generated annually in New York State beginning in the taxable years on and after January 1, 2016.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.