Earn Tax Credits Through NYS Youth Works Program
Governor Andrew M. Cuomo signed the NY Youth Works Program into law on December 9, 2011 to encourage businesses to hire unemployed, disadvantaged youth.
The program will support job training and employment for eligible youth ages 16 to 24, who live in these areas of New York State:
To qualify for the tax credit, businesses must first be certified by the NYS Department of Labor. The Department must receive their applications for certification between January 1 and June 1, 2012.
The tax credit only applies to hiring employees, ages 16 to 24, who are certified to participate in the program. There is a separate certification process for youth. The businesses must hire those certified youth between January 1 and July 1, 2012.
Businesses may earn tax credits equal to the following amounts. Furthermore, if the amount of credit exceeds your tax liability, you may receive the excess as a refund.
If the youth is hired for a full-time position (35 hours or more per week), maximum tax credit $4,000:
- $500 per month, for a maximum of six months ($3,000 maximum) and
- $1,000 if the youth is retained for six months beyond the first six months of employment (employed one full year)