This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.
More and more states are enacting income tax credits for recently deployed veterans. In Alabama, for example, legislation was enacted that establishes a tax credit for small businesses hiring recently deployed veterans and for recently deployed veterans starting up their own businesses in the state. For more information about the Alabama Heroes for Hire Tax Credit Act of 2012, check out this week's issue of the Weekly State Tax Report.
“This act parallels similar legislation in a number of states,” noted Bruce P. Ely, partner at Bradley Arant Boult Cummings LLP in Birmingham, Alabama. Both New Mexico and Utah recently enacted similar legislation that creates tax credits for recently deployed veterans. California, Illinois, Vermont, and West Virginia also offer veteran tax credits, according to the Bloomberg BNA State Tax Portfolios.
“With Alabama being historically one of the largest contributors of men and women to the Armed Forces, our Legislature and Governor Bentley felt that our returning veterans should be given every possible advantage when they re-enter the workforce or start their own business. That's the least we can do,” added Ely.
In other developments . . .
The cap for the Florida tax credit scholarship program was increased to $229 million for fiscal year 2012-2013, according to a recent Bloomberg BNA Weekly State Tax Reportarticle.
By: Kathleen Caggiano
Follow us on Twitter at:
@SALTax
Join Bloomberg BNA's State Tax Group on
LinkedIn
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to books@bna.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to research@bna.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)