Hiring Incentives

Tax Credits

Lower Your Taxes, $ave Money and Boost the Economy

There are a number of tax credit programs that can help businesses reduce their Federal and State tax liability and increase profitability. The employer tax credit incentives can help businesses create jobs, improve their bottom line, boost local economies and help new employees obtain and retain jobs.

Employer Tax Credit

Work Opportunity Tax Credit

The Work Opportunity Tax Credit (WOTC) is a federal income tax credit that provides an incentive for private for profit employers to hire individuals of certain target groups, which have traditionally faced significant barriers to employment. These credits reduce an employer's cost of doing business and require little paperwork. Employers can save up to $2,400 per new hire. For the Long-Term Family Assistance recipients, the employer can save up to $9,000 per new hire, over a two year time period.

Economic Development Tax Credits

Wisconsin's Economic Development Tax Credits programs provide tax incentives to new or expanding businesses whose projects will affect distressed areas throughout the State. For more information contact the WEDC (Wisconsin Economic Development Corporation).

Employee Tax Credits

There are several employee tax credit incentives that can increase the take-home pay of employees at no cost to the employer.

(1) Earned Income, (2) Homestead, and (3) Child Tax Credits

The Earned Income, Homestead and Child Tax Credits can help low income workers increase their income substantially by reducing their income tax liability and, at times, providing a refund greater than the taxes owed. Not only do these credits reduce their tax burden and supplement their wages, but they motivate individuals to pursue employment, promotes self-sufficiency while meeting the labor needs of employers.

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