Bill > A02229

This bill establishes a tax credit for businesses in New York that employ members of the New York National Guard and reserves, designed to provide financial incentives for supporting military personnel. The tax credit offers $1,500 for each National Guard or reserve member employed, with an additional $1,000 (totaling $2,500) for employees who have completed or returned from a deployment or activation. To be eligible for the credit, employers must comply with the Uniformed Services Employment and Reemployment Rights Act, which protects the job rights of military service members. The credit can be applied against the employer's tax liability, and if the credit amount exceeds the tax owed, the excess can be treated as an overpayment and potentially refunded, though no interest will be paid on such refunds. The bill will take effect for taxable years beginning on or after January 1, 2028, and applies to both corporate (section 210-B) and individual (section 606) tax returns, providing a consistent incentive across different types of taxpayers to support New York's National Guard and reserve members.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A2229