Work Opportunity Tax Credit Statistics for New Mexico

In 2021 the state of New Mexico issued 18,881 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 2021 it was worth approximately $5 Billion dollars to employers. 2,081,474 total Work Opportunity Tax Credits were issued in the United States in 2021. WOTC was renewed for five years, and is currently active through 12/31/2025.

Nationwide, New Mexico issued 0.91% of WOTC Tax Credits in 2021.

 

Work Opportunity Tax Credit Statistics for New Mexico 2021:

Work-Opportunity-Tax-Credit-Statistics-New Mexico-2021

In 2021 the state of New Mexico issued 18,881 Work Opportunity Tax Credit certifications, or 0.91% overall.

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

 

New Mexico WOTC Tax Credit Certification 2014 – 2021:

WOTC Certifications Current Pending* Denials Total Requests
2021 18,881 0 18,624 37,505
2020 12,582 0 16,515 29,097
2019 15,032 0 16,356 31,388
2018 24,447 0 17,953 42,400
2017 15,912 10,871 31,396 58,179
2016 19,932 33,421 24,244 77,597
2015 8,245 47,314 3,334 58,893
2014 5,117 25,835 6,002 36,954

*Pending at time of publishing (January 2022).

 

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