NY Outlines Minimum Wage Reimbursement Tax Credit

Law360, New York (January 2, 2014, 3:44 PM EST) -- The New York State Department of Taxation and Finance issued a memorandum Monday providing detailed guidance on a newly implemented minimum wage reimbursement tax credit that incentivizes employers to hire young students at the state's minimum wage rate.

The refundable credit, which went into effect on Jan. 1, allows employers to multiply a tax credit rate against the number of hours that eligible minimum wage workers log in a given year. The credit ends right before January 2019 and starts at 75 cents and reaches a...
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