Did you know that last year the state of Tennessee issued 71,763 Work Opportunity Tax Credit certifications? The Work Opportunity Tax Credit, known as WOTC, is a federal tax incentive designed to help people with barriers to employment into the workplace. By hiring someone from a Target Group, your company may be eligible for a tax credit[…]
In 2023 the state of Tennessee issued 47,772 Work Opportunity Tax Credit certifications. The Work Opportunity Tax Credit, known as WOTC, is a federal tax credit available to employers who hire individuals from target groups, that include qualified Veterans, individuals on food stamps and more. The Work Opportunity Tax Credit is available throughout the United States, and[…]
The Tennessee Department of Labor and Workforce Development (TDLWD) released updated WOTC statistics. The state continues to issue a record number Work Opportunity Tax Credits (WOTC) to business owners across the state. A streamlined, modernized application process makes it easier for employers to take advantage of this beneficial tax credit. Between January and October 2017, TDLWD[…]
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After the state of Tennessee reported their record-breaking year last week, we reached out to them for some more information. The state reports the following statistics over the past five years: Year Number of Certifications Tax Credits Average Tax Credit 2017 (Jan-June) 83,414 $215,530,000.00 $2,583.85 2016 85,448 $225,395,200.00 $2,637.80 2015 28,169 $78,569,400.00 $2,789.21 2014 52,983[…]
State On Pace to Possibly Double Number of Tax Credits Approved in 2016 The Tennessee Department of Labor and Workforce Development (TDLWD) Commissioner Burns Phillips announced yesterday that the department’s Workforce Services Division marked a milestone in June after issuing more than $215 million of Work Opportunity Tax Credits (WOTC) to employers across the state.[…]
The Workforce Services Division of the Tennessee Department of Labor and Workforce Development is on track to issue a record number of work opportunity tax credits to employers across that state. From Jan. 1 through Oct. 31, the department issued 71,336 WOTC certifications, which represents a potential tax savings to Tennessee employers of more than[…]
Tennessee employers taking advantage of the Work Opportunity Tax Credit (WOTC) program achieved a record high in potential federal income tax savings during the fiscal year that ended in September 2012, announced Burns Phillips, acting commissioner for the Tennessee Department of Labor & Workforce Development. Last year the department issued 64,300 WOTC tax credit certifications[…]