What is the Teacher Retention Credit?
For tax years 2000, 2001 and 2003, a California teacher could have claimed a credit against net tax on wages received for services as a teacher for an amount up to $1,500. Eligible teachers completed form FTB 3505, Teacher Retention Credit, to claim the credit. The credit was suspended for 2002 and 2004 through 2006 tax years. The credit was repealed in 2007.