In the week when we celebrate Veterans Day, New York Governor Kathy Hochul reminds about the valuable tax credits, exemptions and incentives for qualified military personnel ahead of Veterans Day. The Hire-a-Veteran Tax Credit, which is administered by the New York State Department of Taxation and Finance, can be worth up to $20,000 for eligible New Yorkers. Veterans may also be eligible for additional local tax breaks that can reduce their property tax bills by up to 50%.

Hire-A-Veteran Tax Credit

Businesses hiring qualified veterans may be eligible for New York's Hire-A-Veteran Tax Credit, worth up to $20,000 per veteran hired. Businesses must hire qualified veterans in New York State for one year or more for at least 35 hours each week to claim the tax credit.

Employers can earn a credit up to $15,000 per qualified veteran and $20,000 per disabled veteran. Qualified veterans must submit Form DTF-75, Employee Affidavit for the Hire-a-Veteran Credit, to their employer to certify their eligibility. 

Businesses that are actively recruiting and hiring should visit the Hire-A-Veteran tax credit webpage for more information.

Source: www.ny.gov