In 2019 the state of Virginia issued 37,822 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 2019 it was worth $4.9 Billion dollars to employers. 2,066,616 total Work Opportunity Tax Credits were issued in the United States in 2019.
Nationwide Virginia issued 2.79% of WOTC Tax Credits in 2019.
Work Opportunity Tax Credit Statistics for Virginia 2019:
|WOTC Target Group||Total Credits||Percentage|
|Veteran unemp. 6 Mo.||1,588||4.20%|
|Long term IV-A (TANF)||1,576||4.17%|
|Designated Community Resident||923||2.44%|
|Veteran unemp. 4 Wk||714||1.89%|
|Long Term Unemployment||277||0.73%|
|Veteran Receiving SNAP||207||0.55%|
|Disabled Veteran unemp. 6 Mo.||50||0.13%|
More about the Work Opportunity Tax Credit’s target groups.
Virginia WOTC Tax Credit Certifications 2014 – 2019:
|WOTC Certifications||Current Pending*||Denials||Total Requests|
*Pending at time of publishing (May 2020).
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- 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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