New York S03694 establishes a work opportunity tax credit for businesses with fifty employees or less for hiring long-term unemployed individuals.

New York S03694 amends the tax law to establish a work opportunity tax credit for businesses with fifty employees or less. The credit allows businesses to claim up to $2,400 per long-term unemployed person hired during a taxable year. A "long term unemployed person" is defined as an individual who has been a resident of New York for three years, had been unemployed and receiving public assistance for six consecutive months or more, and is retained for full-time employment by the business for at least one year.

New York S03694 establishes a work opportunity tax credit for businesses with fifty employees or less for hiring long-term unemployed individuals.

New York S03694 amends the tax law to establish a work opportunity tax credit for businesses with fifty employees or less. The credit allows businesses to claim up to $2,400 per long-term unemployed person hired during a taxable year. A "long term unemployed person" is defined as an individual who has been a resident of New York for three years, had been unemployed and receiving public assistance for six consecutive months or more, and is retained for full-time employment by the business for at least one year.