A 3631
Provides credits under corporation business tax and gross income tax for qualified wages of certain disabled veterans.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates tax credits for corporations and individuals under the corporation business tax and gross income tax. These credits are available to employers who hire certain disabled veterans, specifically those with a service-connected disability rating of 30% or greater and who were honorably discharged. The credits are equal to 15% of qualified wages paid to these veterans, up to a maximum of $1,800 per veteran per year, and are intended to encourage employment opportunities for veterans. The bill includes provisions to prevent abuse and ensure credits don't reduce tax liabilities below statutory minimums.
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