News
Work Opportunity Tax Credit
Posted on September 7, 2010 at 8:34 am
For many years, federal tax law has provided employers with a tax credit for hiring disadvantaged workers. The Work Opportunity Credit (WOTC) expanded the availability of this credit to businesses in rural communites that hire an employee who lives in a "rural renewal" area. Winnebago, Hancock and Worth are among these "rural renewal counties."
The maximum credit is $2,400 for each eligible employee that is hired.
Please note that you cannot take advantage of the Work Opportunity Tax Credit and the HIRE Act for the same employee.
Contact our office for more informaton.