The great state of Mississippi has provided CMS with WOTC statistics for the past several years. Data is listed by Fiscal year, as displayed below. What I enjoy about these reports is that you can see there has been an almost 50% increase in employer participation over the past six years, which means employers are seeing real value in the Work Opportunity Tax Credit.
The Magnolia state reports that they issued a total of 42,464 Work Opportunity Tax Credit certifications between July 1, 2015 and June 30, 2016 to employers who hired individuals from certain target groups. The Mississippi Department of Employment Security issued up to $80,617,000 in tax credits to employers for that fiscal year, an almost 50% increase in certifications over the previous year.
WOTC Participation Mississippi, Fiscal Years 2010-2016:
Note, there is additional reporting data on the Mississippi Employment Security Annual Reports website.
About Cost Management Services WOTC Services
CMS has worked with WOTC since 1997, and we have found over the years that on average 10-15% of all new employees may fall into one of the tax credit categories (or target groups) that qualify for a tax credit. The average credit received is between $1,500 – $9,600 per qualified new hire depending on the target group. Some of our customers have saved a phenomenal $100,000 in a single year.
How Much Can We Save You?
To find out your potential savings, please see our WOTC Calculator. There’s never been a better time to learn about WOTC. Please contact us at 800-517-9099 to speak to a Work Opportunity Tax Credit expert today.