1 definition by tosta
(Work Opportunity Tax Credit).
The company participates in state and federal tax credit programs WOTC (Work Opportunity Tax Credit). The state/federal government requests certain information in order to determine our company's eligibility for tax credits.
The WOTC is one tool in a diverse toolbox of flexible strategies designed to help move people from welfare into gainful employment and obtain on-the-job experience. It joins other tax credits, education, and workforce training programs that help American workers with barriers to employment prepare for good jobs; ease their transition from job to job; benefit from the creation of effective regional economic development strategies; and create high performance workplaces.
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit incentive that the Congress provides to private-sector businesses for hiring individuals from nine target groups who have consistently faced significant barriers to employment. The main objective of this program is to enable the targeted employees to gradually move from economic dependency into self-sufficiency as they earn a steady income and become contributing taxpayers, while the participating employers are compensated by being able to reduce their federal income tax liability. WOTC joins other workforce programs that help incentivize workplace diversity and facilitate access to good jobs for American workers.
The company participates in state and federal tax credit programs WOTC (Work Opportunity Tax Credit). The state/federal government requests certain information in order to determine our company's eligibility for tax credits.
The WOTC is one tool in a diverse toolbox of flexible strategies designed to help move people from welfare into gainful employment and obtain on-the-job experience. It joins other tax credits, education, and workforce training programs that help American workers with barriers to employment prepare for good jobs; ease their transition from job to job; benefit from the creation of effective regional economic development strategies; and create high performance workplaces.
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit incentive that the Congress provides to private-sector businesses for hiring individuals from nine target groups who have consistently faced significant barriers to employment. The main objective of this program is to enable the targeted employees to gradually move from economic dependency into self-sufficiency as they earn a steady income and become contributing taxpayers, while the participating employers are compensated by being able to reduce their federal income tax liability. WOTC joins other workforce programs that help incentivize workplace diversity and facilitate access to good jobs for American workers.
the WOTC has been extended to cover individuals who begin to work for an employer before September 1, 2011.
WOTC Fact Sheet
WOTC Program Brochure
WOTC Veterans Brochure
WOTC Fact Sheet
WOTC Program Brochure
WOTC Veterans Brochure
by tosta August 6, 2011