Firms Hiring Jobless Vets Eligible for Tax Credits
Feb 21, 2012
Businesses who hire unemployed veterans now can receive a tax credit.
The VOW to Hire Heroes Act of 2011 provides a tax credit of as much as $9,600 for for-profit companies, or $6,240 for tax-exempt organizations. The amount depends on a number of factors including the length of time the veteran was unemployed before hire, hours a veteran works and the amount of first-year wages paid.
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U.S. Sen. Sherrod Brown, D-Ohio, supported the bill when it was signed into law in November. Brown is a member of the Senate Veterans’ Affairs Committee.
“Service members who work to keep our country safe shouldn’t have to worry about finding work when they leave the service,” Brown said.
