Who Qualifies? | Hiring Tax Credit
The hiring tax credit allows a qualified business to reduce its state tax by a percentage of wages paid to one or more qualified employees. This credit allows a business to take credits up to approximately $36,000 per qualified employee over a five year period.
A qualified employee is anyone who is a resident of a targeted employment area (TEA) or eligible for certain federal job training programs such as:
Federal Job Training Partnership Act (JTPA).
Greater Avenues for Independence Act of 1985 (GAIN).Additional qualifying criteria include:
A member of a targeted group as defined in the federal Work Opportunity Tax Credit (WOTC).
Economically disadvantaged employees, dislocated workers, employees with disabilities, military veterans, ex-offenders or Native American employees.Employees eligible for federal Supplemental Security Income (SSI) benefits, Aid to Families with Dependent Children (AFDC), food stamps or state and local general assistance.
