New Tax Breaks For Employers That Hire Unemployed Veterans
by: Troops to Trades
October 4, 2016
There’s a new perk in Washington State for companies that hire unemployed veterans — a tax break. The benefit is meant to encourage business owners to hire vets who sometimes have difficulty applying military skills in the workplace.
“They may need a little bit of extra training to make that transition, but once they make that transition they make great employees,” said Alice Stevenson, co-owner of Geeks at Site, a small computer repair business in Federal Way.
The company has prioritized applicants with military experience, yet veterans still have a higher unemployment rate than the national average. Washington is hoping to change that.
The new tax incentive can give business owners up to $1,500 in tax credits per veteran hire. To qualify, the veteran must have been honorably discharged, unemployed for more than 30 days and hired into a full-time position held for at least six months.
The tax credit program took effect Oct. 1.
More info: http://www.dva.wa.gov/new-bo-tax-credit
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