H. B. 4585
(By Delegates Eldridge, Stowers, Butcher,
Stephens, Rodighiero, Longstreth, D. Poling,
Martin, Iaquinta, Shaver and Hall)
[Introduced
February 19, 2010
; referred to the
Committee on Veterans' Affairs and Homeland Security then
Finance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designed §11-21-42a; and to
amend said code by adding thereto a new section, designed §11-
24-12a, all relating to creating a tax credit for hiring
veterans of the United States Military.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended,
by adding thereto a new section, designed §11-21-42a; and that said
code be amended by adding thereto a new section, designed §11-24-
12a, all to read as follows:
PART I. GENERAL.
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-42a. Veteran hiring incentive tax credit.
Every employer who hires veterans of the United States
Military shall receive a tax credit against his or her West Virginia personal income tax liability in the amount of $1000 for
each veteran hired after January 1, 2010. The credits shall be for
the first three years of employment of the veterans. The State Tax
Commissioner shall provide by appropriate rule or regulation for
the reporting, filing and application of claims of the tax credit
provided in a manner in conformity with the legislative purpose of
this section.
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-12a. Veteran hiring incentive tax credit.
Every employer who hires veterans of the United States
Military shall receive a tax credit against its West Virginia
corporate income tax liability in the amount of $1000 for each
veteran hired after January 1, 2010. The credits shall be for the
first three years of employment of the veterans. The State Tax
Commissioner shall provide by appropriate rule or regulation for
the reporting, filing and application of claims for the tax credit
provided in a manner in conformity with the legislative purpose of
this section.
NOTE: The purpose of this bill is to create a tax credit for
hiring veterans of the United States Military.
§11-21-42a and §11-24-12a are new; therefore, they have been
completely underscored.