Bill > S02664

This bill establishes a combat veteran entrepreneur tax credit in New York. The credit provides a $500 tax credit to combat veterans who create a new business in New York State. To qualify, an individual must be a New York resident who has served in the U.S. armed forces and received certain military medals indicating overseas service, and must be an entrepreneur who has organized and operates a new business. The total amount of credits available statewide is capped at $5 million per year. The credit can be claimed against the state's corporate franchise tax (Article 9-A) or personal income tax (Article 22).