Tag: Vaughn Hromiko

A little good news for employers and foster youth living in New Mexico. Republican Governor Susana Martinez has signed into law a bill providing a $1,000 tax credit to employers that hire qualifying foster youth.
Although the New Mexico Foster Youth Tax Credit was signed on March 1, the law does not go into effect until July 1. Beginning then, employers may claim a tax credit of up to $1,000 per each qualifying foster youth they hire.
The $1,000 is based on the qualifying youth’s first full year of employment. If a youth does not remain employed for an entire year, the employer may claim a pro-rated portion of the $1,000 based on the percentage of a year worked. For example, work half a year, claim half the credit or $500.

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