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What is the Teacher Retention Credit?

The Teacher Retention Credit has been suspended for 2004-2009. It was reinstated for 2003 after being suspended for the 2002 tax year. For 2003, a California teacher may claim a credit against net tax on wages received for services as a teacher for an amount up to $1,500. Taxpayers should complete form FTB 3505, Teacher Retention Credit, to claim the credit.