In 2022 the state of New Mexico issued 22,360 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 2022 it was worth approximately $5 Billion dollars to employers. 2,569,056 total Work Opportunity Tax Credits were issued in the United States in 2022. WOTC was renewed for five years, and is currently active through 12/31/2025.
Nationwide, New Mexico issued 0.87% of WOTC Tax Credits in 2022.
Work Opportunity Tax Credit Statistics for New Mexico 2022:
In 2022 the state of New Mexico issued 22,360 Work Opportunity Tax Credit certifications, or 0.87% overall.
More about the Work Opportunity Tax Credit’s target groups.
New Mexico WOTC Tax Credit Certification 2014 – 2022:
| WOTC Certifications | Current Pending* | Denials | Total Requests | |
| 2022 | 22,360 | 0 | 32,475 | 54,835 |
| 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 (February 2023).
About Our WOTC Screening Services
- Why you should use CMS’s WOTC Tax Screening Service rather than doing it yourself.
- Get an idea of how much you could be saving by utilizing the Work Opportunity Tax Credit for your company, try our WOTC Calculator.
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