Tax credits for hiring vets extended

NORWICH – The Returning Heroes and Wounded Warrior Tax Credit, which was set to expire at the beginning of the new year, has been extended as part of the year-end fiscal cliff deal. The measure has been extended for a year, allowing Chenango County employers who hire an unemployed or wounded veteran up to $9,600 in tax credits.

Over the past few years, the percentage of unemployed veterans nationwide has far outstripped the percentage of unemployed nonveterans. But, since 2011, when President Obama first signed The Returning Heroes and Wounded Warrior Tax Credits into law, the gap has narrowed. While a disparity still exists, New York State politicians believe the tax credits will go along way towards aiding veterans in search of work.

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