Business Credit for Hiring Unemployed Veterans

Beginning October 1, 2016, businesses that hire unemployed veterans for positions in Washington State may qualify for credit against their State business and occupation (B&O) tax or public utility tax (PUT).

The credit equals 20 percent of the wages and benefits a business pays to or on behalf of a qualified employee, up to a maximum of $1,500 for each qualified employee hired on or after October 1, 2016. There is no limit on the total credit an employer may receive. However, the total statewide credits may not exceed $500,000 per fiscal year.

I have provided a link to a Special Notice, Credit for hiring unemployed veterans, which contains further information.

http://dor.wa.gov/Docs/Pubs/SpecialNotices/2016/sn_unemployed_vets.pdf

 

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