| Hiring-Related
Incentives |
WORK OPPORTUNITY AND WELFARE-TO-WORK TAX CREDITS
These federal programs provide tax relief to your business when you hire individuals from eight targeted groups, including:
Families eligible to receive benefits under the Temporary Assistance for Needy Families Program.
High-risk youth.
Qualified ex-felons.
Vocational rehabilitation referrals.
Qualified summer-youth employees (max credit 0f $1,200, or 40% of the first $3,000 of qualified first-year wages).
Qualified Veterans.
Families receiving food stamps.
Persons receiving certain Supplemental Security Income benefits.
Your business can earn up to 50% of the employee's wages for a maximum credit of $9,000.
STATE AND LOCAL CREDITS
There are more than 500 state and local credits available , many triggered by hiring qualified candidates or the expansion of facilities or equipment.
EMPOWERMENT ZONE AND RENEWAL COMMUNITY CREDITS
If your business is located in a Federal Empowerment Zone and /or Renewal Community, and you employ individuals living in the same area, you can earn credit against your federal tax liability; up to $3,000 per qualified employee.
TRAINING GRANTS & INCENTIVES
Training grant programs help subsidize the eligible costs of training new and existing employees.
The federal government also provides funds for job placement and training assistance through local agencies, benefiting both employers and employees.
JOB CREATION CREDITS
These credits exist to attract new employers to an area and typically focus on identifiable plans for future growth.
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