Bill > A03238

This bill establishes a tax credit for businesses in New York that hire veterans and disabled veterans, designed to incentivize employment of military personnel. Specifically, businesses can receive a $3,000 tax credit for each veteran hired or $4,000 for each disabled veteran hired, with a maximum annual credit of $15,000. To qualify, veterans must be new employees working at least 35 hours per week, while disabled veterans can work a minimum of 17.5 hours per week, and both must remain employed for at least 12 months. The credit is calculated based on the increase in total employees above the business's base employment level (defined as the average number of full-time employees in the base year of 2023 for existing businesses, or zero for new businesses). Importantly, if a business cannot use the entire credit in a given year, they can carry it forward for up to ten subsequent tax years, though the credit cannot reduce a company's tax liability below zero. The bill defines veterans and disabled veterans according to existing civil service law definitions and will take effect for taxable years beginning on or after January 1, 2026, applying to employees hired after the act's implementation.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A3238