Work Opportunity Tax Credit in Texas

The Work Opportunity Tax Credit (WOTC) is available to employers in Texas who hire people from specific target groups that experience barriers to employment.

• WOTC can provide up to $2,400 in tax relief for each qualifying hire, and up to $9,000 for long term family assistance recipient hires.
• Easy application process. We do all the work for you.
  
• Full-time, part-time, and temporary employees make your business eligible for the tax credit.
• Employers may claim a tax credit on an unlimited number of qualifying new hires.
  

The Tax Credit program was extended through August 31, 2011. This occurred when the President signed The Small Business and Work Opportunity Tax Act of 2007 into law on May 25, 2007.

• Additional Work Opportunity Tax Credits information for the State of Texas: http://www.twc.state.tx.us/svcs/wotc/wotc.html
  

WOTC Forms

• wotc_8850_2009.pdf
• wotc_9061_2009.pdf

CMS has processed WOTC tax credits for companies for over 13 years and based on our experience up to 15% of the workforce is eligible for the employment tax credits. Why aren’t you taking advantage? Call CMS today at 1-800-517-9099 to find out how we can save you money.

Calculate your potential tax savings with our WOTC Tax Credit Savings Calculator

About CMS
CMS - Sage Abra HRMS is a Sage Software Select certified Business Partner, providing Sage Abra HRMS software solutions to the North East. CMS has been providing Sage Abra HRMS (Human Resource Management Systems), Recruiting, Payroll, Benefits Enrollment, Training, Time and Attendance, Employee Self Service, and Work Opportunity Tax Credits solutions since 1997. Call CMS Today For a Free Assessment of Your HR & Payroll Software Needs at 1-800-517-9099.

Work Opportunity Tax Credits could save employers $154 million

The San Antonio Business Journal reports that employers in the state of Texas may be able to save up to $154 million in tax savings with the WOTC.

The Texas Workforce Commission is notifying private employers throughout the state that they may be able to reduce their federal income liability by as much as $154 million if they have hired employees from qualified targeted populations.

Employers filing their 2008 taxes can take advantage of an estimated $154 million in income tax savings by utilizing the Work Opportunity Tax Credit (WOTC). It is a federal income tax credit that is available to private for-profit employers. Businesses have to apply for certification through the Texas Workforce Commission to claim qualified employees on their income taxes. All applications must be postmarked no later than 28 days from the worker’s start date.

Companies can earn credits up to $2,400 per employee. Employers will be able to claim the credit on their business taxes. The tax credit is designed to encourage employers to hire new employees from nine targeted groups of job seekers who may face barriers to employment.

Click here for the full story:
http://www.bizjournals.com/

To speak with a CMS WOTC Representative, or find out about the Work opportunity Tax Credit Savings in your state, please call us at 1-800-517-9099 and ask for Brian, or send an email.

Click here to download the WOTC brochure for more information.