Bill > A01678

This bill establishes a tax credit for companies that employ members of the New York National Guard and Reserves. The credit is $1,500 per National Guard or Reserve member employed, and $2,500 per National Guard or Reserve member who has completed or returned from a deployment or activation, up to a maximum of $2,500 per employee. The credit can be used to reduce the company's state tax liability, with any remaining credit amount treated as an overpayment to be refunded. The bill requires companies to comply with the Uniformed Services Employment and Reemployment Rights Act, and the credit applies to taxable years beginning on or after January 1, 2022.