What is the WOTC tax credit?
What's in it for Employers?- You make the hiring decision
- Hire Qualified Individuals
- Up to $12,000 in potential tax credits per new hire
- Reduce your recruitment and training costs
- No restrictions on number of qualified hires
- Credits are applied to taxes due
- Unused tax credits may be carried forward 20 years
- Minimal paperwork to claim the tax credit Using tax credits is a good investment in your business and community. "A smart solution for business."
The Federal Work Opportunity Tax Credit (WOTC) program is designed to encourage employers in the private sector to hire qualified job seekers who face barriers to gainful employment.
WOTC Target Groups
An employer is only eligible for qualified wages paid to members of a target group. Those target groups are:
- Families Receiving TANF
- Veterans
- Disabled Veterans
- Ex-felons
- Designated Community Residents living in an Enterprise Community (EC)* or Renewal Community (RC)*
- Vocational Rehabilitation Referral
- Summer Youth living in an Enterprise Community (EC)* or Renewal Community (RC)*
- Food Stamp Recipients
- Supplemental Security Income (SSI) Recipients
- Long-Term Family Assistance (LTFA)
Wisconsin’s Work Opportunity Tax Credit applies to all student hires through the Affirmative Recruiting Initiative program. Adecco will guide you through the process and provide you with the correct tax credit forms. For more information, go to: www.dwd.state.wi.us/jobservice/taxcredit.