Employers can take advantage of the Work Opportunity Tax Credit on their federal income tax liability. If an employer hires someone that can be certified (a simple process) as being part of a target group (such as being an eligible U.S. military veteran), the tax credit can be claimed. According to the Work Opportunity Tax Credit page on the Tennessee Department of Labor & Workforce Development website, during federal FY11, Tennessee Department of Labor and Workforce Development issued 50,025 federal Work Opportunity Tax Credit (WOTC) certifications representing in excess of $201 million in potential federal income tax savings to Tennessee employers.
… it’s probably here somewhere
Daryl Phillips, CEcD, EDFP
I work as an economic developer consulting with communities and companies developing locations, building communities and identifying and developing workforce. However, my opinions on this blog are free and my own, as is the blog itself.
I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers.
I have earned over 20 years experience in economic and workforce development. I have earned and maintain the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council. I have earned a Master of Business Administration from Tennessee Technological University.
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