| California corporations are looking for ways to | | | | that need economic development. Summer youth |
| make ends meet in today's tough economy, but | | | | hires age sixteen through seventeen who reside in |
| there is hope. There are state tax credits that | | | | the aforementioned locations would allow your |
| California companies can take advantage of that | | | | company to claim a California WOTC. Other |
| will allow them to save money. One of the most | | | | employees who would qualify your corporation for |
| popular is WOTC California, or Work Opportunity | | | | the California tax WOTC credit include ex-felons |
| Tax Credit California. Surprisingly, many companies | | | | under certain conditions and vocational |
| located in California do not take advantage of | | | | rehabilitation referrals. |
| these and other tax WOTC credits allowed under | | | | If your California company hires employees from |
| the law, but if they do, they may be shocked to | | | | any of these groups, you may then qualify for |
| learn just how much it can save them at tax | | | | the WOTC California. For each employee except |
| time. | | | | summer youth hires and those on long term |
| The WOTC tax credit was put into place so that | | | | family assistance, your company may claim |
| employers would hire people in certain | | | | California tax hiring credits of forty percent of the |
| demographic groups, and they would then get the | | | | employee's first year wages up to $6,000, with |
| reward of a tax WOTC credit. Employees who | | | | the condition that the employee is given a |
| would qualify include those on public assistance. | | | | minimum of 400 hours of work. Summer youth |
| This can include those receiving Temporary | | | | hires may earn your company up to $3,000, and |
| Assistance to Needy Families, younger food | | | | those qualifying for long term family assistance |
| stamp recipients, those on Supplemental Security | | | | would allow your company to claim California tax |
| Income, and those on long-term family assistance. | | | | hiring credits of forty percent of the first year's |
| Others who qualify are veterans. | | | | wages up to $10,000, and fifty percent of the |
| Veterans receiving food stamps or disabled | | | | second year's wages, with the condition that the |
| veterans may qualify your company for WOTC | | | | employee works at least 400 hours or 180 days. |
| California when they are hired by your | | | | Your company can claim the WOTC California for |
| corporation. Young people are also targeted by | | | | two years, and if needed, you can carry your |
| the WOTC tax credit. Young people age eighteen | | | | work opportunity tax credit forward for twenty |
| and up to forty years of age may be qualified if | | | | years or make it retroactive for one year. |
| they are living in one of California's forty-two | | | | For more information about applying WOTC |
| Enterprise Zones, Renewal Communities or Rural | | | | California to your corporation, you will want to |
| Renewal Counties, which are targeted locations | | | | contact a CPA experienced with tax hiring credits. |