Tc-40 Forms And Instructions - Individual Income Tax Page 25
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2. Was collecting or was eligible to collect unemployment
benefi ts, or has exhausted their unemployment benefi ts
within the last two years, under Title 35A, Chapter 4, Part
4, Benefi ts and Eligibility;
3. Work for the taxpayer for at least 35 hours per week for
not less than 45 of the 52 weeks following the veteran’s
employment start date.
The credit is claimed beginning in the year the 45 consecutive
weeks in paragraph 3 above are met.
The credit is calculated as follows:
First Year Credit (count all months in the year the 45 week require-
ment is met):
1. Number of months or partial months
veteran employed in fi rst year
________
2. Monthly credit allowable in fi rst year
200
3. First year credit – multiply line 1 by line 2
(maximum $2,400)
$________
Second Year Credit:
4. Number of months or partial months
veteran employed in 2nd year
________
5. Monthly credit allowable in second year
400
6. Second year credit – multiply line 4 by line 5
(maximum ($4,800)
$________
Any credit in excess of tax due will not be refunded, but may
be carried forward to offset tax for up to fi ve years.
The following documentation for the qualifi ed recently de-
ployed veteran must be retained by the taxpayer to support
the credit claimed, and made available to the Tax Commission
upon request:
1. Veteran’s name, last known address, and taxpayer iden-
tifi cation or social security number;
2. Start date of employment;
3. Documentation establishing that the veteran was employed
45 out of the 52 weeks after the date of employment;
4. Documentation provided by the recently deployed vet-
eran’s military service unit establishing that the veteran
is a recently deployed veteran; and
5. A signed statement from the Department of Workforce
Services that the recently deployed veteran was collecting,
was eligible to collect, or exhausted their unemployment
benefi ts within the last two years.
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