Senate Bill S3043

2013-2014 Legislative Session

Establishes business franchise, personal income, insurance franchise and banking franchise tax credits for a portion of the wages paid to newly hired post 9/11 veterans

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Archive: Last Bill Status - Stricken

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Apr 17, 2013	recommit, enacting clause stricken
Jan 29, 2013	referred to investigations and government operations

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2013-S3043 (ACTIVE) - Details

Law Section:: Tax Law
Laws Affected:: Amd §§210, 606, 1456 & 1511, Tax L

2013-S3043 (ACTIVE) - Summary

Establishes business franchise, personal income, insurance franchise and banking franchise tax credits for a portion of the wages paid to newly hired post 9/11 veterans.

2013-S3043 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S3043

TITLE OF BILL:  An act to amend the tax law, in relation to establishing
business  franchise,  personal  income,  banking franchise and insurance
franchise tax credits for a portion of the wages paid to certain  veter-
ans

PURPOSE:  This  legislation  creates a tax credit for hiring young unem-
ployed veterans to help combat the disproportionately high  unemployment
these men and women face.

SUMMARY OF PROVISIONS:

Section  1:  Amends Tax Law section 210 to add a new subdivision 23-a to
establish an allowance of a tax credit for employment of certain  veter-
ans  against  the New York State corporate franchise tax. To qualify for
the tax credit the employer who pays the corporate  franchise  tax  must
hire  a  qualified veteran. A qualified veteran is one who: A) served on
active duty in the United States Army, Navy, Air Force,  Marines,  Coast
Guard  or  reserves thereof, or the National Guard who was released from
active duty after September 11, 2001. 18) was  hired  after  January  1,
2013  and  before  January 1, 2014. C) has not been employed with a full
time job within the past six months, and D) was  not  hired  to  replace
another  employee  by such employer.   The amount of the corporate fran-
chise tax credit is 10 percent of the qualified wages of any such veter-
an up to a cap of $10,000, except for disabled veterans, whose tax cred-

it is 15 percent of the qualified wages of such veteran up to a  cap  of
$15,000.  The  bill  provides  for  a  carryover of the tax credit if it
cannot be used by such taxpayer in the same tax year.

Sections 2 and 3: Amends Tax Law section 606 to add a new clause  (xxxv)
and  subdivision  (a-2)  to  establish  an allowance of a tax credit for
employment of certain veterans  against  the  New  York  State  personal
income  tax.  To  qualify  for  the tax credit the employer who pays the
personal income tax must hire a qualified veteran. A  qualified  veteran
is  one  who:  A) served on active duty in the United States Army, Navy,
Air Force, Marines, Coast Guard or reserves  thereof,  or  the  National
Guard who was released from active duty after September 11, 2001. B) was
hired  after January 1, 2013 and before January 1, 2014. C) has not been
employed with a full time job within the past six months, and D) was not
hired to replace another employee by such employer. The  amount  of  the
personal  income  tax credit is 10 percent of the qualified wages of any
such veteran up to a cap of $10,000, except for disabled veterans, whose
tax credit is 15 percent of the qualified wages of such veteran up to  a
cap  of  $15,000. The bill provides for a carryover of the tax credit if
it cannot be used by such taxpayer in the same tax year.

Section 4: Amends Tax Law section 1456 to add a new subsection (e-1)  to
establish  an allowance of a tax credit for employment of certain veter-
ans against the New York State franchise tax on banking corporations. To
qualify for the tax credit the employer who pays  the  bank  corporation

franchise  tax must hire a qualified veteran. A qualified veteran is one
who: A) served on active duty in  the  United  States  Army,  Navy,  Air
Force,  Marines,  Coast Guard or reserves thereof, or the National Guard
who was released from active duty after September 11, 2001. B) was hired
after  January  1,  2013  and  before  January  1, 2014. C) has not been
employed with a full time job within the past six months, and D) was not
hired to replace another employee by such employer. The  amount  of  the
banking  corporation franchise tax credit is 10 percent of the qualified
wages of any such veteran up to a cap of $10,000,  except  for  disabled
veterans,  whose tax credit is 15 percent of the qualified wages of such
veteran up to a cap of $15,000. The bill provides for a carryover of the
tax credit if it cannot be used by such taxpayer in the same tax year.

Section 5: Amends Tax Law section 1511 to add a new subdivision (g-1) to
establish an allowance of a tax credit for employment of certain  veter-
ans  against the New York State franchise tax on insurance corporations.
To qualify for the tax credit the employer who pays the insurance corpo-
ration franchise tax must hire a qualified veteran. A qualified  veteran
is  one  who:  A) served on active duty in the United States Army, Navy,
Air Force, Marines, Coast Guard or reserves  thereof,  or  the  National
Guard who was released from active duty after September 11, 2001. B) was
hired  after January 1, 2013 and before January 1, 2014. C) has not been
employed with a full time job within the past six months, and D) was not
hired to replace another employee by such employer. The  amount  of  the
insurance  corporation  franchise tax credit is 10 percent of the quali-
fied wages of any such veteran,. up to a  cap  of  $10,000,  except  for
disabled veterans, whose tax credit.is 15 percent of the qualified wages
of such veteran up to a cap of $15,000.The bill provides for a carryover
of  the tax credit if it cannot be used by such taxpayer in the same tax
year.

Section 6: This act shall take effect immediately, and shall  be  deemed
to have full force and effect on or after January 1, 2013.

JUSTIFICATION:    Tens  of  thousands  of  New  Yorkers have served with
distinctions in the various  conflicts  waged  after  the  September  11
attack  on  our  country.    Too many of these men and women, who risked
their lives to protect our life and liberty, have  returned  home  to  a
weak  job  market  and diminished employment opportunities. According to
the Bureau of Labor Statistics, in 2011 the  overall  unemployment  rate
for  veterans  in  New York State was 7.7% but the unemployment rate for
veterans who had served after the 9/11 attacks  was  a  stunning  16.7%.
This  rate is far above the general unemployment rate in New York, which
according to the New York Labor Bureau was an average of 8.2%.

The IDC believes that New York should do something to lower  this  into-
lerably  high  unemployment  rate  for  young  veterans.  The tax credit
proposed in this legislation is crafted  specifically  to  benefit  this
group.  Any  private  employer in New York, regardless of size, would be
eligible for a credit equal to 10% of the gross wages  of  a  previously
unemployed  post-9/11  veteran  they  hired, up to a maximum of $10,000.
There is no limit to the number of credits any business can  claim,  and

they  would be able to carry over the credit for three tax years if they
did not use it immediately. This credit will apply for young  and  unem-
ployed  veterans  hired  between  January 2013 and January 2015. The job
that the veteran is hired must be full time and not replace any existing
employees.

Many  of these young people who chose to serve after 9/11 have come back
from war with serious and disabling injuries. Unfortunately,  Any  indi-
vidual  with  disabilities  is at a disadvantage in the job market.  The
IDC has taken this disadvantage into account by making the credit higher
if a business hires a young, unemployed and disabled veteran.   In  this
case, the business can claim a credit equal to 15% of gross wages, up to
$15,000.

The  IDC  believes  that  instituting this proposed tax credit will help
lower the extremely high unemployment rate that this cohort of  veterans
face.  This  is  just one small way in which New Yorkers can ensure that
those who chose to serve to protect us all can  have  the  dignity  they
deserve.

LEGISLATIVE HISTORY: New legislation

FISCAL IMPLICATIONS: Fiscal implications to the state to be determined

EFFECTIVE  DATE:  This  act  shall  take effect immediately and shall be
deemed to have been in full force and effect on  and  after  January  1,
2013.

2013-S3043 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3043

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 29, 2013
                               ___________

Introduced  by  Sens.  CARLUCCI,  ADDABBO, BALL, GRISANTI, KLEIN, LANZA,
  SAVINO, SMITH, VALESKY -- read twice and  ordered  printed,  and  when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN  ACT to amend the tax law, in relation to establishing business fran-
  chise, personal income, banking franchise and insurance franchise  tax
  credits for a portion of the wages paid to certain veterans

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 210 of the tax law  is  amended  by  adding  a  new
subdivision 23-a to read as follows:
  23-A.  CREDIT  FOR  EMPLOYMENT  OF  CERTAIN VETERANS. (A) ALLOWANCE OF
CREDIT. A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT, TO  BE  COMPUTED
AS PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THE ARTICLE,
FOR  HIRING  AND  EMPLOYING, FOR NOT LESS THAN ONE YEAR AND FOR NOT LESS
THAN THIRTY-FIVE HOURS EACH WEEK, A QUALIFIED VETERAN WITHIN THE STATE.
  (B) QUALIFIED TAXPAYER. A QUALIFIED TAXPAYER IS A TAXPAYER WHICH IS AN
EMPLOYER, OTHER THAN THE FEDERAL, THE STATE OR A LOCAL GOVERNMENT OR ANY
INSTRUMENTALITY THEREOF.
  (C) QUALIFIED VETERAN.  A  QUALIFIED  VETERAN  IS  AN  INDIVIDUAL  WHO
RESIDES IN THIS STATE:
  (1)  WHO  SERVED  ON  ACTIVE DUTY IN THE UNITED STATES ARMY, NAVY, AIR
FORCE, MARINE CORPS, COAST GUARD OR THE RESERVES THEREOF, OR WHO  SERVED
IN  ACTIVE MILITARY SERVICE OF THE UNITED STATES AS A MEMBER OF THE ARMY
NATIONAL GUARD, AIR NATIONAL GUARD, NEW YORK GUARD  OR  NEW  YORK  NAVAL
MILITIA;  WHO  WAS  RELEASED  FROM  ACTIVE  DUTY BY GENERAL OR HONORABLE
DISCHARGE AFTER SEPTEMBER ELEVENTH, TWO THOUSAND ONE;
  (2) WHO COMMENCES EMPLOYMENT BY THE QUALIFIED  TAXPAYER  ON  OR  AFTER
JANUARY  FIRST,  TWO  THOUSAND  THIRTEEN,  AND BEFORE JANUARY FIRST, TWO
THOUSAND FIFTEEN;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08350-02-3

S. 3043                             2

  (3) WHO CERTIFIES BY SIGNED AFFIDAVIT, UNDER PENALTY OF PERJURY,  THAT
HE OR SHE HAS NOT BEEN EMPLOYED FOR THIRTY-FIVE OR MORE HOURS DURING ANY
WEEK  IN  THE  ONE HUNDRED EIGHTY DAY PERIOD IMMEDIATELY PRIOR TO HIS OR
HER EMPLOYMENT BY THE QUALIFIED TAXPAYER; AND
  (4)  WHO WAS NOT EMPLOYED BY THE QUALIFIED TAXPAYER TO REPLACE ANOTHER
EMPLOYEE.
  (D) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE TEN PERCENT OF
THE QUALIFIED WAGES PAID TO  THE  QUALIFIED  VETERAN  PRIOR  TO  JANUARY
FIRST,  TWO  THOUSAND  FIFTEEN; PROVIDED, HOWEVER, THAT IF THE QUALIFIED
VETERAN IS A DISABLED VETERAN, AS DEFINED IN PARAGRAPH (B)  OF  SUBDIVI-
SION  ONE OF SECTION EIGHTY-FIVE OF THE CIVIL SERVICE LAW, THE AMOUNT OF
THE CREDIT SHALL BE FIFTEEN PERCENT OF THE QUALIFIED WAGES PAID  TO  THE
QUALIFIED  VETERAN  PRIOR  TO  JANUARY  FIRST, TWO THOUSAND FIFTEEN. THE
CREDIT ALLOWED PURSUANT TO THIS SUBDIVISION SHALL NOT EXCEED, DURING ANY
TAXABLE YEAR, TEN THOUSAND DOLLARS FOR ANY QUALIFIED VETERAN AND FIFTEEN
THOUSAND DOLLARS FOR ANY QUALIFIED VETERAN WHO IS  A  DISABLED  VETERAN.
"QUALIFIED WAGES" MEANS WAGES PAID OR INCURRED BY THE QUALIFIED TAXPAYER
DURING  THE  TAXABLE YEAR TO A QUALIFIED VETERAN WHICH ARE ATTRIBUTABLE,
WITH RESPECT TO SUCH VETERAN, TO  SERVICES  RENDERED  BY  THE  QUALIFIED
VETERAN.
  (E) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
BLE  YEAR  SHALL  NOT  REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
AMOUNT PRESCRIBED IN PARAGRAPH (D) OF SUBDIVISION ONE OF  THIS  SECTION.
HOWEVER,  IF  THE  AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR
ANY TAXABLE YEAR REDUCES THE TAX TO SUCH AMOUNT, ANY  AMOUNT  OF  CREDIT
NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER TO THE FOLLOWING
THREE  YEARS,  AND MAY BE DEDUCTED FROM THE QUALIFIED TAXPAYER'S TAX FOR
SUCH YEARS.
  S 2. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended  by adding a new clause (xxxv) to read as
follows:

(XXXV) CREDIT FOR EMPLOYMENT         QUALIFIED WAGES
OF CERTAIN VETERANS UNDER            UNDER SUBDIVISION
SUBSECTION (A-2)                     TWENTY-THREE-A
                                     OF SECTION TWO
                                     HUNDRED TEN OR
                                     SUBSECTION (E-1)
                                     OF SECTION FOURTEEN
                                     HUNDRED FIFTY-SIX
  S 3. Section 606 of the tax law is amended by adding a new  subsection
(a-2) to read as follows:
  (A-2)  CREDIT  FOR  EMPLOYMENT  OF  CERTAIN VETERANS. (1) ALLOWANCE OF
CREDIT. A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT, TO  BE  COMPUTED
AS PROVIDED IN THIS SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE,
FOR  HIRING  AND  EMPLOYING, FOR NOT LESS THAN ONE YEAR AND FOR NOT LESS
THAN THIRTY-FIVE HOURS EACH WEEK, A QUALIFIED VETERAN WITHIN THE STATE.
  (2) QUALIFIED TAXPAYER. A QUALIFIED TAXPAYER IS A TAXPAYER WHO  IS  AN
EMPLOYER, OTHER THAN THE FEDERAL, THE STATE OR A LOCAL GOVERNMENT OR ANY
INSTRUMENTALITY THEREOF.
  (3)  QUALIFIED  VETERAN.  A  QUALIFIED  VETERAN  IS  AN INDIVIDUAL WHO
RESIDES IN THIS STATE:
  (A) WHO SERVED ON ACTIVE DUTY IN THE UNITED  STATES  ARMY,  NAVY,  AIR
FORCE,  MARINE CORPS, COAST GUARD OR THE RESERVES THEREOF, OR WHO SERVED
IN ACTIVE MILITARY SERVICE OF THE UNITED STATES AS A MEMBER OF THE  ARMY
NATIONAL  GUARD,  AIR  NATIONAL  GUARD, NEW YORK GUARD OR NEW YORK NAVAL

S. 3043                             3

MILITIA; WHO WAS RELEASED FROM  ACTIVE  DUTY  BY  GENERAL  OR  HONORABLE
DISCHARGE AFTER SEPTEMBER ELEVENTH, TWO THOUSAND ONE;
  (B)  WHO  COMMENCES  EMPLOYMENT  BY THE QUALIFIED TAXPAYER ON OR AFTER
JANUARY FIRST, TWO THOUSAND THIRTEEN,  AND  BEFORE  JANUARY  FIRST,  TWO
THOUSAND FIFTEEN;
  (C)  WHO CERTIFIES BY SIGNED AFFIDAVIT, UNDER PENALTY OF PERJURY, THAT
HE OR SHE HAS NOT BEEN EMPLOYED FOR THIRTY-FIVE OR MORE HOURS DURING ANY
WEEK, IN THE ONE HUNDRED EIGHTY DAY PERIOD IMMEDIATELY PRIOR TO  HIS  OR
HER EMPLOYMENT BY THE QUALIFIED TAXPAYER; AND
  (D)  WHO WAS NOT EMPLOYED BY THE QUALIFIED TAXPAYER TO REPLACE ANOTHER
EMPLOYEE.
  (4) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE TEN PERCENT OF
THE QUALIFIED WAGES PAID TO  THE  QUALIFIED  VETERAN  PRIOR  TO  JANUARY
FIRST,  TWO  THOUSAND  FIFTEEN; PROVIDED, HOWEVER, THAT IF THE QUALIFIED
VETERAN IS A DISABLED VETERAN, AS DEFINED IN PARAGRAPH (B)  OF  SUBDIVI-
SION  ONE OF SECTION EIGHTY-FIVE OF THE CIVIL SERVICE LAW, THE AMOUNT OF
THE CREDIT SHALL BE FIFTEEN PERCENT OF THE QUALIFIED WAGES PAID  TO  THE
QUALIFIED  VETERAN  PRIOR  TO  JANUARY  FIRST, TWO THOUSAND FIFTEEN. THE
CREDIT ALLOWED PURSUANT TO THIS SUBSECTION SHALL NOT EXCEED, DURING  ANY
TAXABLE YEAR, TEN THOUSAND DOLLARS FOR ANY QUALIFIED VETERAN AND FIFTEEN
THOUSAND  DOLLARS  FOR  ANY QUALIFIED VETERAN WHO IS A DISABLED VETERAN.
"QUALIFIED WAGES" MEANS WAGES PAID OR INCURRED BY THE QUALIFIED TAXPAYER
DURING THE TAXABLE YEAR TO A QUALIFIED VETERAN WHICH  ARE  ATTRIBUTABLE,
WITH  RESPECT  TO  SUCH  VETERAN,  TO SERVICES RENDERED BY THE QUALIFIED
VETERAN.
  (5) CARRYOVER. IF THE AMOUNT OF CREDIT ALLOWABLE UNDER THIS SUBSECTION
FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  ANY
AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY BE CARRIED OVER
TO  THE  FOLLOWING  THREE  YEARS, AND MAY BE DEDUCTED FROM THE QUALIFIED
TAXPAYER'S TAX FOR SUCH YEARS.
  S 4. Section 1456 of the tax law is amended by adding a new subsection
(e-1) to read as follows:
  (E-1) CREDIT FOR EMPLOYMENT OF  CERTAIN  VETERANS.  (1)  ALLOWANCE  OF
CREDIT. A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT TO BE COMPUTED AS
PROVIDED  IN  THIS  SUBSECTION, AGAINST THE TAX IMPOSED BY THIS ARTICLE,
FOR HIRING AND EMPLOYING, FOR NOT LESS THAN ONE YEAR AND  FOR  NOT  LESS
THAN THIRTY-FIVE HOURS EACH WEEK, A QUALIFIED VETERAN WITHIN THE STATE.
  (2) QUALIFIED TAXPAYER. A QUALIFIED TAXPAYER IS A TAXPAYER WHICH IS AN
EMPLOYER, OTHER THAN THE FEDERAL, THE STATE OR A LOCAL GOVERNMENT OR ANY
INSTRUMENTALITY THEREOF.
  (3)  QUALIFIED  VETERAN.  A  QUALIFIED  VETERAN  IS  AN INDIVIDUAL WHO
RESIDES IN THIS STATE:
  (A) WHO SERVED ON ACTIVE DUTY IN THE UNITED  STATES  ARMY,  NAVY,  AIR
FORCE,  MARINE CORPS, COAST GUARD OR THE RESERVES THEREOF, OR WHO SERVED
IN ACTIVE MILITARY SERVICE OF THE UNITED STATES AS A MEMBER OF THE  ARMY
NATIONAL  GUARD,  AIR  NATIONAL  GUARD, NEW YORK GUARD OR NEW YORK NAVAL
MILITIA; WHO WAS RELEASED FROM  ACTIVE  DUTY  BY  GENERAL  OR  HONORABLE
DISCHARGE AFTER SEPTEMBER ELEVENTH, TWO THOUSAND ONE;
  (B)  WHO  COMMENCES  EMPLOYMENT  BY THE QUALIFIED TAXPAYER ON OR AFTER
JANUARY FIRST, TWO THOUSAND THIRTEEN,  AND  BEFORE  JANUARY  FIRST,  TWO
THOUSAND FIFTEEN;
  (C)  WHO CERTIFIES BY SIGNED AFFIDAVIT, UNDER PENALTY OR PERJURY, THAT
HE OR SHE HAS NOT BEEN EMPLOYED FOR THIRTY-FIVE OR MORE HOURS DURING ANY
WEEK IN THE ONE HUNDRED EIGHTY DAY PERIOD IMMEDIATELY PRIOR  TO  HIS  OR
HER EMPLOYMENT BY THE QUALIFIED TAXPAYER; AND

S. 3043                             4

  (D)  WHO WAS NOT EMPLOYED BY THE QUALIFIED TAXPAYER TO REPLACE ANOTHER
EMPLOYEE.
  (4) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE TEN PERCENT OF
THE  QUALIFIED  WAGES  PAID  TO  THE  QUALIFIED VETERAN PRIOR TO JANUARY
FIRST, TWO THOUSAND FIFTEEN; PROVIDED, HOWEVER, THAT  IF  THE  QUALIFIED
VETERAN  IS  A DISABLED VETERAN, AS DEFINED IN PARAGRAPH (B) OF SUBDIVI-
SION ONE OF SECTION EIGHTY-FIVE OF THE CIVIL SERVICE LAW, THE AMOUNT  OF
THE  CREDIT  SHALL BE FIFTEEN PERCENT OF THE QUALIFIED WAGES PAID TO THE
QUALIFIED VETERAN PRIOR TO JANUARY  FIRST,  TWO  THOUSAND  FIFTEEN.  THE
CREDIT  ALLOWED PURSUANT TO THIS SUBSECTION SHALL NOT EXCEED, DURING ANY
TAXABLE YEAR, TEN THOUSAND DOLLARS FOR ANY QUALIFIED VETERAN AND FIFTEEN
THOUSAND DOLLARS FOR ANY QUALIFIED VETERAN WHO IS  A  DISABLED  VETERAN.
"QUALIFIED WAGES" MEANS WAGES PAID OR INCURRED BY THE QUALIFIED TAXPAYER
DURING  THE  TAXABLE YEAR TO A QUALIFIED VETERAN WHICH ARE ATTRIBUTABLE,
WITH RESPECT TO SUCH VETERAN, TO  SERVICES  RENDERED  BY  THE  QUALIFIED
VETERAN.
  (5)  CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY TAXA-
BLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR  TO  LESS  THAN  THE
MINIMUM  TAX  FIXED  BY  SUBSECTION  (B)  OF  SECTION  FOURTEEN  HUNDRED
FIFTY-FIVE OF THIS ARTICLE. HOWEVER, IF THE AMOUNT OF  CREDIT  ALLOWABLE
UNDER  THIS  SUBSECTION  FOR  ANY  TAXABLE  YEAR REDUCES THE TAX TO SUCH
AMOUNT, ANY AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR MAY  BE
CARRIED OVER TO THE FOLLOWING THREE YEARS, AND MAY BE, DEDUCTED FROM THE
QUALIFIED TAXPAYER'S TAX FOR SUCH YEARS.
  S  5.  Section 1511 of the tax law is amended by adding a new subdivi-
sion (g-1) to read as follows:
  (G-1) CREDIT FOR EMPLOYMENT OF  CERTAIN  VETERANS.  (1)  ALLOWANCE  OF
CREDIT. A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT TO BE COMPUTED AS
PROVIDED  IN  THIS SUBDIVISION, AGAINST THE TAX IMPOSED BY THIS ARTICLE,
FOR HIRING AND EMPLOYING, FOR NOT LESS THAN ONE YEAR AND  FOR  NOT  LESS
THAN THIRTY-FIVE HOURS EACH WEEK, A QUALIFIED VETERAN WITHIN THE STATE.
  (2) QUALIFIED TAXPAYER. A QUALIFIED TAXPAYER IS A TAXPAYER WHICH IS AN
EMPLOYER, OTHER THAN THE FEDERAL, THE STATE OR A LOCAL GOVERNMENT OR ANY
INSTRUMENTALITY THEREOF.
  (3)  QUALIFIED  VETERAN.  A  QUALIFIED  VETERAN  IS  AN INDIVIDUAL WHO
RESIDES IN THIS STATE:
  (A) WHO SERVED ON ACTIVE DUTY IN THE UNITED  STATES  ARMY,  NAVY,  AIR
FORCE,  MARINE CORPS, COAST GUARD OR THE RESERVES THEREOF, OR WHO SERVED
IN THE ACTIVE MILITARY SERVICE OF THE UNITES STATES AS A MEMBER  OF  THE
ARMY  NATIONAL  GUARD,  AIR  NATIONAL  GUARD, NEW YORK GUARD OR NEW YORK
NAVAL MILITIA; WHO WAS RELEASED FROM ACTIVE DUTY BY GENERAL OR HONORABLE
DISCHARGE AFTER SEPTEMBER ELEVENTH, TWO THOUSAND ONE;
  (B) WHO COMMENCES EMPLOYMENT BY THE QUALIFIED  TAXPAYER  ON  OR  AFTER
JANUARY  FIRST,  TWO  THOUSAND  THIRTEEN,  AND BEFORE JANUARY FIRST, TWO
THOUSAND FIFTEEN;
  (C) WHO CERTIFIES BY SIGNED AFFIDAVIT, UNDER PENALTY OF PERJURY,  THAT
HE OR SHE HAS NOT BEEN EMPLOYED FOR THIRTY-FIVE OR MORE HOURS DURING ANY
WEEK  IN  THE  ONE HUNDRED EIGHTY DAY PERIOD IMMEDIATELY PRIOR TO HIS OR
HER EMPLOYMENT BY THE QUALIFIED TAXPAYER; AND
  (D) WHO WAS NOT EMPLOYED BY THE QUALIFIED TAXPAYER TO REPLACE  ANOTHER
EMPLOYEE.
  (4) AMOUNT OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE TEN PERCENT OF
THE  QUALIFIED  WAGES  PAID  TO  THE  QUALIFIED VETERAN PRIOR TO JANUARY
FIRST, TWO THOUSAND FIFTEEN; PROVIDED, HOWEVER, THAT  IF  THE  QUALIFIED
VETERAN  IS  A DISABLED VETERAN, AS DEFINED IN PARAGRAPH (B) OF SUBDIVI-
SION ONE OF SECTION EIGHTY-FIVE OF THE CIVIL SERVICE LAW, THE AMOUNT  OF

S. 3043                             5

THE  CREDIT  SHALL BE FIFTEEN PERCENT OF THE QUALIFIED WAGES PAID TO THE
QUALIFIED VETERAN PRIOR TO JANUARY  FIRST,  TWO  THOUSAND  FIFTEEN.  THE
CREDIT ALLOWED PURSUANT TO THIS SUBDIVISION SHALL NOT EXCEED, DURING ANY
TAXABLE YEAR, TEN THOUSAND DOLLARS FOR ANY QUALIFIED VETERAN AND FIFTEEN
THOUSAND  DOLLARS  FOR  ANY QUALIFIED VETERAN WHO IS A DISABLED VETERAN.
"QUALIFIED WAGES" MEANS WAGES PAID OR INCURRED BY THE QUALIFIED TAXPAYER
DURING THE TAXABLE YEAR TO A QUALIFIED VETERAN WHICH  ARE  ATTRIBUTABLE,
WITH  RESPECT  TO  SUCH  VETERAN,  TO SERVICES RENDERED BY THE QUALIFIED
VETERAN.
  (5) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
BLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR  TO  LESS  THAN  THE
MINIMUM  TAX  FIXED  BY  PARAGRAPH  FOUR  OF  SUBDIVISION (A) OF SECTION
FIFTEEN HUNDRED TWO OF THIS ARTICLE. HOWEVER, IF THE  AMOUNT  OF  CREDIT
ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO
SUCH  AMOUNT,  ANY  AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR
MAY BE CARRIED OVER TO THE FOLLOWING THREE YEARS, AND  MAY  BE  DEDUCTED
FROM THE QUALIFIED TAXPAYER'S TAX FOR SUCH YEARS.
  S  6.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after January 1, 2013.

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Senate Bill S3043

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Sponsored By

Archive: Last Bill Status - Stricken

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co-Sponsors

2013-S3043 (ACTIVE) - Details

2013-S3043 (ACTIVE) - Summary

2013-S3043 (ACTIVE) - Sponsor Memo

2013-S3043 (ACTIVE) - Bill Text download pdf

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