Arizona State - Credit 333 - Employing National Guard Members Credit

Article ID: 59693  

Question
Arizona State - Credit 333 - Employing National Guard Members Credit

Answer

Arizona law provides a credit for employers who have an employee that is a member of the Arizona National Guard if the employee is placed on active duty. The credit is $1,000 for each employee who is placed on active duty by the Arizona National Guard.

To qualify for the credit, all of the following must apply:

1. The employee must be a member of the Arizona National Guard.
2. The employee must be in a full time equivalent position when the employee is placed on active duty.
3. Each member of the Arizona National Guard who is employed must have served during the taxable year on active duty for training that exceeds the required annual training period, including any activation for federal or state contingencies or emergencies.

You may claim this credit only once in any taxable year with respect to each employee who is placed on active duty by the Arizona National Guard. However, you may claim the credit again for that employee in a subsequent year if that employee remains on active duty or is placed again on active duty in a subsequent taxable year.

If the allowable credit exceeds your income tax liability, you may carry over any unused amount for up to five taxable years. This credit is available to individuals, corporations and S corporations. A partnership may pass the credit through to its partners. An S corporation may also pass the credit through to its shareholders.


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Views: 1304 Created on: Jun 15, 2013