New York S04268 creates a jobs development incentive income tax credit for employers hiring individuals previously receiving unemployment benefits.

New York S04268 amends the tax law to create a jobs development incentive income tax credit for employers. Employers can claim a credit of $2,400 for each creditable employee they hire. A creditable employee is defined as a new employee who has filed a claim for unemployment compensation, received unemployment benefits for at least two months, and is currently receiving unemployment benefits or has completed a training program. The employee must remain employed for at least 24 consecutive months and work at least 30 hours per week.

New York S04268 creates a jobs development incentive income tax credit for employers hiring individuals previously receiving unemployment benefits.

New York S04268 amends the tax law to create a jobs development incentive income tax credit for employers. Employers can claim a credit of $2,400 for each creditable employee they hire. A creditable employee is defined as a new employee who has filed a claim for unemployment compensation, received unemployment benefits for at least two months, and is currently receiving unemployment benefits or has completed a training program. The employee must remain employed for at least 24 consecutive months and work at least 30 hours per week.