New York S00209 establishes a Hire-Now tax credit for employers creating new jobs.

New York S00209 amends the tax law to establish a Hire-Now tax credit for employers creating new jobs. The credit is equal to 6.85 percent of the gross wages paid for each new employee, up to a maximum of $5,000 per employee per year. The credit is available for three consecutive years. If a new employee was receiving unemployment insurance benefits at the time of hire, an additional $3,000 credit is allowed for the first full year of employment.

New York S00209 establishes a Hire-Now tax credit for employers creating new jobs.

New York S00209 amends the tax law to establish a Hire-Now tax credit for employers creating new jobs. The credit is equal to 6.85 percent of the gross wages paid for each new employee, up to a maximum of $5,000 per employee per year. The credit is available for three consecutive years. If a new employee was receiving unemployment insurance benefits at the time of hire, an additional $3,000 credit is allowed for the first full year of employment.