Work Opportunity Tax Credit Statistics for Colorado

In 2020 the state of Colorado issued 22,066 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 in 2020 it was worth approximately $3.8 Billion dollars to employers. 1,620,806 total Work Opportunity Tax Credits were issued in the United States in 2020. WOTC was renewed for five years in 2020, and is active through 12/31/2025.

Overall, Colorado issued 1.36% of WOTC Tax Credits in 2020.

 

Work Opportunity Tax Credit Statistics for Colorado 2020:

WOTC Target Group Total Credits Percentage
SNAP (FS) 11,800 53.48%
Veteran unemp. 6 Mo. 1,916 8.68%
Ex-felon 1,541 6.98%
Long term IV-A (TANF) 1,495 6.78%
IV-A (TANF) 1,432 6.49%
Veteran unemp. 4 Wk 1,300 5.89%
Long Term Unemployment 857 0.00%
SSI Recipient 671 3.04%
Veteran Receiving SNAP 443 2.01%
Vocational Rehabilitation 253 1.15%
Disabled Veteran 197 0.89%
Disabled Veteran unemp. 6 Mo. 73 0.33%
Ticket Holder 70 0.32%
Designated Community Resident 18 0.08%
Summer Youth 0 0.00%

In 2020 the state of Colorado issued 22,066 Work Opportunity Tax Credit certifications, or 1.36% overall. Colorado issued the most tax credit certifications in the Disabled Veteran category.

More about the Work Opportunity Tax Credit’s target groups.

 

Colorado WOTC Tax Credit Certification 2014 – 2020:

WOTC Certifications Current Pending* Denials Total Requests
2020 22,066 4,799 50,665 77,530
2019 24,464 5,638 52,995 83,097
2018 25,663 7,107 48,831 81,601
2017 27,017 9,155 58,366 94,568
2016 39,945 29,208 57,142 126,295
2015 21,687 52,439 1,691 75,817
2014 12,342 25,613 181,480 56,135

*Pending at time of publishing (February 2021).

 

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