2.628 National Guard Credit

Origin: A business corporation employing not more than 100 employees may be allowed a credit equal to $2,000 for each member of the Massachusetts national guard hired by the business corporation. To be eligible for a credit: (i) the primary place of employment and the primary residence of the member of the Massachusetts national guard must be in Massachusetts; and (ii) not later than the day an individual begins work, the business corporation shall have obtained the applicable certification from the office of the adjutant general that the individual is a member of the Massachusetts national guard. A business corporation that claims this credit is eligible for a second credit of $2,000 in the subsequent taxable year with respect to such member of the Massachusetts national guard, subject to certification of continued employment during the subsequent taxable year. The credit is nontransferable and nonrefundable. Any amount of the credit that exceeds the tax due for a taxable year may be carried forward to any of the three subsequent taxable years. For business corporations subject to a minimum corporate excise, the credit cannot reduce the business corporation's excise liability below the minimum corporate excise amount. The personal income and corporate excise versions of this credit are subject to the same annual cap of $1 million.

Origin: M.G.L. c. 63, §38KK; St.2022, c.154, §8