Employment Incentives Are Provided In Many Different Forms
Employment incentives are offered in many federal, state and local jurisdictions. The financial benefit provided by the incentive may come in the form of income tax, sales tax, payroll tax, property tax, cash grant or other financial benefit.
Each program is unique regarding its specific goals and objectives but increasing business growth is a common focus e.g. (job creation and capital investment) and/or emphasis on employing individuals with certain barriers to employment.
A common focus of these programs may include employing individuals with the following background or circumstances:
Receiving some form of public assistance (i.e. food stamps);
Residing in economically distressed or specifically identified areas;
Military background;
Have a disability;
Have a criminal background;
Recently laid off;
Unemployed for an extended time;
Receiving unemployment compensation;
Participating in a local workforce program
Common business related areas of focus include:
Expansion of existing businesses;
Attraction of new business;
Encourage development of specific business industries;
Retention of existing business activity;
Business development in specific geographic areas that are undeveloped or high employment areas;
Encourage business development to replace lost businesses or industries (i.e. military base closures)
Employment Incentives have various rules to secure the benefits. Some incentives are less discretionary in nature by providing specific circumstances and an objective process to receive the benefits. Other incentives may involve a process that is more discretionary and subjective to secure.
Please refer to our Incentives by State Map to identify some specific Employment Incentives.
All businesses that pay income tax in the U.S. qualify for the federal Work Opportunity Tax Credit (WOTC). To quickly estimate your company’s WOTC, fill out the fields below.
Roderick Management
I was able to not only unlock significant tax savings, but also realize there are a lot of hidden assets in my company.
Owners of commercial properties may qualify for substantial tax savings. Try our cost segregation calculator to see if you are qualified to save significant tax dollars.
All businesses that perform research and development activities in the U.S. qualify for R&D tax credits. Quickly estimate your company’s benefits by filling out the fields below.
All businesses that pay income tax in the U.S. qualify for the federal Work Opportunity Tax Credit (WOTC). To quickly estimate your company’s WOTC, fill out the fields below.
