Work Opportunity Tax Credit Statistics for New Jersey

In 2023 the state of New Jersey issued 52,144 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 2023 it was worth approximately $4.7 Billion dollars to employers. 1,982,858 total Work Opportunity Tax Credits were issued in the United States in 2023. WOTC was renewed for five years, and is currently active through 12/31/2025.

Nationwide, New Jersey issued 2.63% of WOTC Tax Credits in 2023.

 

Work Opportunity Tax Credit Statistics for New Jersey 2023:

Work-Opportunity-Tax-Credit-Statistics-for-New-Jersey-2023

In 2023 the state of New Jersey issued 52,144 Work Opportunity Tax Credit certifications, or 2.63% overall.

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

 

New Jersey WOTC Tax Credit Certification 2014 – 2023:

WOTC Certifications Current Pending* Denials Total Requests
2023 52,144 83,316 67,482 202,942
2022 41,702 121,424 55,569 218,695
2021 36,898 101,427 75,116 213,441
2020 14,883 103,334 16,513 134,730
2019 31,783 11,811 33,373 76,967
2018 45,279 3,567 49,524 98,370
2017 42,949 28,588 45,248 116,785
2016 35,296 47,427 34,717 117,440
2015 34,016 42,350 19,654 96,020
2014 30,087 43,847 19,138 93,072

*Pending at time of publishing (February 2024).

 

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