Pennsylvania SB401 amends tax credit definitions and introduces a tax credit for employers of Pennsylvania National Guard members.
Pennsylvania SB401 amends the Tax Reform Code of 1971 to redefine "tax credit" and introduces a new Pennsylvania National Guard Employer Tax Credit. Employers who hire active members of the Pennsylvania National Guard, employees who enlist, or employees who reenlist in the Pennsylvania National Guard are eligible for a tax credit of up to $1,000 per qualified employee. The credit can be carried over to succeeding taxable years but cannot be carried back or refunded. The total amount of tax credits authorized by this article is capped at $5,000,000 per fiscal year.
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