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"Our veterans put themselves in harm's way to protect our
freedom. When they come home to Illinois, they should be able to
find jobs and get the benefits they've earned. Both our veterans and
businesses will benefit from the new tax credit and I want to
encourage all employers to participate," said Gov. Blagojevich.
Beginning in tax year 2007, Illinois employers can earn tax credits
for hiring veterans who have recently been on active duty overseas.
Employers can earn the new Veteran's Tax Credit of 5 percent of
total wages paid, up to a maximum of $600 annually, for wages paid
to each veteran hired after Jan. 1, 2007. The veteran must work at
least 185 days during the tax year for the employer to qualify. The
credit is available for veterans who were members of the Armed
Forces, the Armed Force reserves, or the Illinois National Guard on
active duty in Operation Desert Storm, Operation Enduring Freedom,
or Operation Iraqi Freedom.
The Illinois Department of Veterans' Affairs (IDVA) Field Service
Officers and the State Approving Agency (SAA) Education Specialists
will promote the Veteran's Tax Credit by including information in
their regular outreach efforts to businesses during Transition
Assistance Programs (TAP) presentations, National Guard armories,
First Week-end Drill Back Briefings, and Veteran's Benefit Fairs.
Information regarding the tax credit will be distributed through
mass mailings to approved educational institutions, apprenticeship
programs and on the job training programs.
"After returning home from serving our country, our veterans
deserve to have access to quality jobs. This tax credit is an
incentive for businesses to hire our veterans, and in turn, receive
qualified and dedicated employees," said IDVA Acting Director L.
Tammy Duckworth. "With this incentive, Governor Blagojevich
demonstrates his continued support for our veterans."
The Veteran's Tax Credit can be claimed by employers on 2007 tax
returns filed in 2008. The Department of Revenue (IDoR) will advise
employers of the new Veteran's Tax Credit as a part of its regular
mailings to employers.
"It is important to let employers know of the availability of
this new credit so they can claim it when they file their tax
returns next year," said IDoR Director Brian Hamer.
For more information about the Veteran's Tax Credit, go to the
Department of Revenue's website,
www.tax.illinois.gov,
and visit the Taxpayer Answer Center or call the Department of
Revenue's toll-free assistance line at 1-800-732-8866.
In coming weeks, the Illinois Department of Transportation's
Office of Business Development and Workforce Diversity will begin
promoting the Veteran's Tax Credit through a network of 1,800
contractors that are certified in Illinois as Disadvantaged Business
Enterprises (DBE's).
"IDOT will be getting the word out to the hundreds of contracting
companies it works with about the availability of this tax credit
for companies that hire military veterans who served in Iraq and
Afghanistan," said IDOT Acting Secretary Milt Sees. "These brave men
and women have been tested in battle, and just as IDOT is looking to
hire veterans to fill jobs as Highway Maintainers, we encourage
private sector employers to seek out and hire qualified veterans."
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 CMS and the Department of Commerce and Economic Opportunity will
also reach out to small and diverse businesses to increase awareness
about the incentive.
Across Illinois, the Department of Central Management Services
(CMS) Veterans Outreach Program provides professional counseling on
an ongoing basis to veterans seeking state employment. Last year,
these officials attended 25 job fairs and counseled nearly 500
veterans. Interested veterans may learn more about the program or
begin the process of state employment by calling 1-800-643-8138.
The Department of Employment Security (IDES) provides access to
an array of employment programs and services to support both job
seekers and businesses. IDES has a staff of trained Veterans
Representatives and disabled Veterans Outreach Representatives
dedicated to helping Veterans find employment. The Veteran's Tax
Credit will be an added tool for veteran's employment
representatives and other field staff to enlighten the state's
employers on the benefits of hiring veterans. Through one-on-one
meetings and workshops, IDES staff will take the message to
employers that in addition to hiring a highly-skilled veteran
workforce, they also will be eligible for this tax incentive.
"Governor Blagojevich and the State of Illinois truly care for
its veterans and helping its businesses continue to grow. This tax
credit will mean more qualified veterans will be on the job, which
will help businesses of all sizes continue to expand and prosper,"
Illinois Hispanic Chamber of Commerce President and CEO Omar Duque
said.
"This tax incentive is nothing but positive for the state of
Illinois. Our businesses, both small and large, will benefit not
only from the tax credit, but from the quality of employee they
hire," Edwardsville and Glen Carbon Chamber of Commerce Executive
Director Carol Foreman said.
"Many of our veterans are qualified, and equipped with the skills
they need for the jobs available around the state. Our businesses
would be lucky to have employees as dedicated and committed as our
military heroes," Heartland Partnership CEO Jim McConoughey said.
"We must always stand by our veterans who have made us so proud
by bravely defending our country. Governor Blagojevich understands
that this is an important economic development tool that is going to
help put more Illinois veterans on the job and help sustain our
economic momentum here in Galesburg and across the state," Galesburg
Area Chamber of Commerce President Bob Maus said.
(Text
copied from file received from the
Illinois Office of Communication and Information)
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