IL Credit for Wages Paid to Qualified Veterans

Up to $1200!!!

Qualifying Veteran

·        IL resident

·        Member of Armed Forces that served on active duty:

o   Operation Enduring Freedom

o   Operation Iraqi Freedom

o   Desert Storm

·        Honorably discharged

·        Hired on or after 1/1/2007

 

Employer Requirement

·        Employ qualifying veteran for 185 days during the tax year

 

Tax Credit

·        5% of wages up to $600 for veteran hired between 1/1/2007-12/31/2009

·        10% of wages up to $1200 for veteran hired on or after 1/1/2010

·        Reduces IL state income tax

·        May carry forward up to 5 years

 

 

 Let the 'Tax Credit Experts' at Sharp Payroll walk you through how to take advantage of these valuable credits. Call Brad or Joe at (309) 686-1040.