Tax Credit Offered For When Employees Are Called Up to Active Duty
Legislation sponsored by Senators Steve Oroho (R-24) and Anthony Bucco (R-25) that provides tax credits to businesses who have employees that are called up for active duty military service was passed by the Senate Budget and Appropriations Committee today.
“Some employers may be hesitant to hire and invest in the training of an individual who serves in the National Guard or a reserve component of the armed forces because they may be concerned that a leave of absence will provide an undue financial hardship to their business, ”
Oroho stated. “This legislation provides a small form of assistance to those businesses who have an employee that is honorably serving in defense of our nation.”
The bill applies to businesses who have an employee who is a member of the National Guard or of a reserve component of the Armed Forces and receives orders for mobilization to active duty service. The amount of credit will be equal to 20 percent of salary but not to exceed $2, 000 for each qualified employee.
“It is important, especially now, that all New Jerseyans in both the public and private sectors support our citizen soldiers, ” Bucco stated. “Offering private employers incentives to hire and retain those called to serve our nation will strengthen our economy and provide peace of mind to those deployed overseas.”