Form Rpd-41370 - Certification Of Eligibility For The Veteran Employment Tax Credit - State Of New Mexico Taxation And Revenue Department Page 2

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State of New Mexico - Taxation & Revenue Department
RPD-41370
Int. 09/04/2012
CERTIFICATION OF ELIGIBILITY FOR THE VETERAN EMPLOYMENT TAX CREDIT
INSTRUCTIONS
Page 1 of 2
ABOUT THIS TAX CREDIT:
For tax years beginning on or after January 1, 2012, but not
Note: When an entry requires a date, enter the date using a
after December 31, 2016, a taxpayer who employs a quali-
two-digit month and day and a four-digit year (mm/dd/yyyy).
fied military veteran for at least 40 hours per week, in New
Qualification information.
Mexico is eligible for a credit against the taxpayer’s personal
1. Enter the employer’s tax year in which the eligible em-
or corporate income tax liability for up to $1,000 for wages
ployment took place. Enter the first day of the tax year
paid to each qualified military veteran. If the veteran’s quali-
and the last day of the tax year.
fied period of employment is less than a full year, the credit
for that year is reduced based on the ratio of the qualified
2. Enter the name and the social security number of the
period of employment over the full tax year of the employer.
eligible military veteran employed, exactly as the name
An employer may not receive the credit for any individual
and social security number appears on the qualified
qualified military veteran for more than one calendar year
military veteran’s DD Form 214.
from the date of hire.
3.
Enter the date the qualified military veteran was hon-
Multiple employers may not receive a credit for more
orably discharged from a branch of the United States
than one year combined for the same qualified military
military. Attach a copy of the veteran’s DD Form 214,
veteran.
Certificate of Release or Discharge from Active Duty.
Only one employer may receive the credit for a specific
4. Enter the date the employer hired the qualified military
veteran during a tax year.
veteran.
The date of discharge may not exceed two years from
the date the employer hired the military veteran.
5. Enter the qualified period of employment during the tax
The veteran employment tax credit is only allowed for
year. If hired in the middle of the tax year (reported on line
the employment of a veteran who was not previously
1), enter the date of hire. If hired before the employer’s
employed by the taxpayer prior to the individual’s de-
tax year, enter the first day of the employer’s tax year.
ployment.
For the ending date enter the earlier of:
the date the qualified military veteran ceased working
That portion of a veteran employment tax credit approved
for the employer;
by Taxation and Revenue Department (TRD) that exceeds
a taxpayer’s income tax liability in the tax year in which the
the date one year after the date of hire, or
veteran employment tax credit is claimed may not be re-
the last day of the year.
funded to the taxpayer, but may be carried forward for up to
three years. The veteran employment tax credit may not be
Note: The veteran must have been employed for at least
transferred to another taxpayer.
40 hours per week, and the qualified period may not
exceed 1 calendar year from the date of hire.
A husband and wife filing separate returns for a tax year for
6. Indicate whether the veteran was employed by the em-
which they could have filed a joint return, each may claim
ployer prior to the veteran’s deployment or entry into the
only one-half of the veteran employment tax credit that would
U.S. military. If the answer is yes, then the employment
have been claimed on a joint return.
of the military veteran does not qualify for the veteran
employment tax credit.
ATTACHMENTS:
The taxpayer must provide a copy of the qualified military
Compute the veteran employment tax credit.
veteran’s DD Form 214, Certificate of Release or Discharge
7. Enter the total number of days that the qualified military
or other evidence acceptable to the Depart-
from Active Duty,
veteran was employed by the employer during the em-
ment. The document must show the date the military veteran
ployer’s tax year (line 1 of this form).
was honorably discharged from a branch of the United States
8. Enter the number of days in the tax year of this claim.
military. Evidence other than the qualified military veteran’s
Most full-year filers will enter 365 or 366 for a leap year. A
DD Form 214 should be approved through the Department
taxpayer who has a short-year return enters the number
before submitting the application. The Department may re-
of days included in their tax year.
quest additional information establishing that the employee
is a qualified military veteran.
9. Divide line 7 by line 8. Calculate the percentage to 3
decimal places. If the numbers in lines 7 and 8 are the
HOW TO COMPLETE THIS FORM:
same number, enter “1.000”.
Complete all information requested. Enter the name and the
10. Multiply line 9 by $1,000. This is the total veteran employ-
New Mexico CRS identification number of the employer. This
ment tax credit allowed for this qualified military veteran
must be the same name and number on Form RPD-41371,
for this tax year. Include this amount on the Application
Application for Veteran Employment Tax Credit.

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