Senate Bill S3745A

2013-2014 Legislative Session

Establishes a small business tax credit for the employment of unemployed veterans

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee


  • 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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Bill Amendments

co-Sponsors

2013-S3745 - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S4336

2013-S3745 - Summary

Establishes a small business tax credit for the employment of unemployed veterans.

2013-S3745 - Sponsor Memo

2013-S3745 - Bill Text download pdf

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

                                  3745

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sen. ADDABBO -- 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 a  small  busi-
  ness tax credit for the employment of unemployed 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 46 to read as follows:
  46.  SMALL  BUSINESS  TAX CREDIT; UNEMPLOYED VETERANS.  (A) GENERAL. A
TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
IT, TO BE COMPUTED AS PROVIDED IN  THIS  SUBDIVISION,  AGAINST  THE  TAX
IMPOSED BY THIS ARTICLE FOR EACH UNEMPLOYED VETERAN HIRED DURING A TAXA-
BLE  YEAR, PROVIDED THAT SUCH UNEMPLOYED VETERAN IS EMPLOYED FOR THIRTY-
FIVE HOURS OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF  SUCH  TAXPAYER
FOR TWELVE MONTHS OR MORE.
  (B)  AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL EQUAL
FIVE THOUSAND DOLLARS PER HIRED UNEMPLOYED VETERAN BUT SHALL NOT  EXCEED
TWENTY-FIVE THOUSAND DOLLARS.
  (C)  CARRYOVERS.  THE  CREDIT  ALLOWED  UNDER  THIS SUBDIVISION MAY BE
CLAIMED AND IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH  THE  CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (D) DEFINITIONS. AS USED IN THIS SUBDIVISION, THE TERM "VETERAN" SHALL
MEAN  A  PERSON WHO SERVED IN THE ACTIVE MILITARY, NAVAL, OR AIR SERVICE
DURING A PERIOD OF WAR, OR WHO WAS  A  RECIPIENT  OF  THE  ARMED  FORCES
EXPEDITIONARY  MEDAL, NAVY EXPEDITIONARY MEDAL, MARINE CORPS EXPEDITION-
ARY MEDAL, OR GLOBAL WAR ON TERRORISM EXPEDITIONARY MEDAL, AND  WHO  WAS
DISCHARGED OR RELEASED THEREFROM UNDER HONORABLE CONDITIONS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04387-02-3

              

co-Sponsors

2013-S3745A (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §§210 & 606, Tax L
Versions Introduced in 2011-2012 Legislative Session:
S4336

2013-S3745A (ACTIVE) - Summary

Establishes a small business tax credit for the employment of unemployed veterans.

2013-S3745A (ACTIVE) - Sponsor Memo

2013-S3745A (ACTIVE) - Bill Text download pdf

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

                                 3745--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 13, 2013
                               ___________

Introduced  by  Sens.  ADDABBO, AVELLA, PARKER, SAMPSON, TKACZYK -- read
  twice and ordered printed, and when printed to  be  committed  to  the
  Committee  on  Investigations and Government Operations -- recommitted
  to the  Committee  on  Investigations  and  Government  Operations  in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to amend the tax law, in relation to establishing a small busi-
  ness tax credit for the employment of unemployed 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 48 to read as follows:
  48. SMALL BUSINESS TAX CREDIT; UNEMPLOYED VETERANS.   (A)  GENERAL.  A
TAXPAYER WHO HAS ONE HUNDRED EMPLOYEES OR LESS, SHALL BE ALLOWED A CRED-
IT,  TO  BE  COMPUTED  AS  PROVIDED IN THIS SUBDIVISION, AGAINST THE TAX
IMPOSED BY THIS ARTICLE FOR EACH UNEMPLOYED VETERAN HIRED DURING A TAXA-
BLE YEAR, PROVIDED THAT SUCH UNEMPLOYED VETERAN IS EMPLOYED FOR  THIRTY-
FIVE  HOURS  OR MORE PER WEEK AND REMAINS IN THE EMPLOY OF SUCH TAXPAYER
FOR TWELVE MONTHS OR MORE.
  (B) AMOUNT OF CREDIT. A CREDIT AUTHORIZED BY THIS SECTION SHALL  EQUAL
FIVE  THOUSAND DOLLARS PER HIRED UNEMPLOYED VETERAN BUT SHALL NOT EXCEED
TWENTY-FIVE THOUSAND DOLLARS.
  (C) CARRYOVERS. THE CREDIT  ALLOWED  UNDER  THIS  SUBDIVISION  MAY  BE
CLAIMED  AND  IF NOT FULLY USED IN THE INITIAL YEAR FOR WHICH THE CREDIT
IS CLAIMED MAY BE CARRIED OVER, IN ORDER, TO EACH OF THE FIVE SUCCEEDING
TAXABLE YEARS. THE CREDIT AUTHORIZED BY THIS SUBDIVISION MAY NOT BE USED
TO REDUCE THE TAX LIABILITY OF THE CREDIT CLAIMANT BELOW ZERO.
  (D) DEFINITIONS. AS USED IN THIS SUBDIVISION, THE TERM "VETERAN" SHALL
MEAN A PERSON WHO SERVED IN THE ACTIVE MILITARY, NAVAL, OR  AIR  SERVICE
DURING  A  PERIOD  OF  WAR,  OR  WHO WAS A RECIPIENT OF THE ARMED FORCES

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04387-03-4
              

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