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Tax Credits
There are several federal and state tax credits available to employers for hiring qualified individuals and/or creating new jobs. The Work Opportunity Tax Credit (WOTC) is designed to promote the hiring of individuals who qualify as a member of a target group. For example businesses can receive up to $2400 in federal tax savings for hiring low-income individuals with barriers to employment. TheWorkers with Disabilities Tax Credit (WETC) is a New York State tax credit that can result in $2100 for each individual hired. WETC is an employer friendly benefit for businesses hiring workers with disabilities. For more information on Tax Credits click this link. |
