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Federal (WOTC) and State Tax Credits

HKP

Added 01/11/2016

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The Work Opportunity Tax Credit (WOTC) is a federal tax credit that reduces the federal tax liability of private employers who hire from qualified employees within targeted groups.

Targeted Groups:

• Temporary Assistance to Needy Families recipients (TANF)

• Veterans/disabled veterans

• Ex-felons

• Designated Community Residents (DCR) residing in an Empowerment Zone (EZ), Enterprise Community (EC), Renewal Community (RC) or Rural Renewal County (RRC)

• Vocational Rehabilitation Agency referrals

• Summer Youth (SY)

• Food Stamp Recipients (FS)

• Qualified Long Term Unemployment Recipient

Billions in incentives available to get employees back to work and to improve the economy.

Many incentives go unclaimed - businesses don’t know about the credits or do not have the tools or time to maximize these benefits.

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