Hiring Incentives, Employees with Disabilities

Work Opportunity Tax Credit (WOTC)

Work Opportunity Tax Credit (WOTC) 
WOTC a federal tax credit program that provides an incentive to businesses that hire new employees from unemployed veteran, ex-offender, SSI beneficiary, vocational rehabilitation client, and other employee populations. The WOTC program can help reduce your federal income tax liability by providing your business with a 40% tax credit on eligible employees’ first year of wages after they have worked 400 hours (wage caps apply). With no limit on the number of qualified hires your business can claim, you can receive $2,400 to $9,600, depending on the qualifying target group for each one of your newly hired, eligible employees. WOTC requests must be postmarked or e-filed within 28 days of the employee’s start date. Nonprofit 501(c) entities can participate when hiring WOTC eligible veterans only. Contact: SC WOTC Coordinator at 803-737-2592 or email lrushton@dew.sc.gov.

https://www.doleta.gov/business/incentives/opptax/wotcEmployers.cfm

Apprenticeship Carolina

Apprenticeship Carolina
The Apprenticeship Credit is a state tax credit available to businesses that have employees who have been in an apprenticeship program beginning after 2007 and who are in a registered apprentice agreement with the Office of Apprenticeship of the Employment and Training Administration of the U.S. Department of Labor. A state corporate or individual tax credit equal to $1,000 for each apprentice employed under an apprenticeship agreement is available and can be claimed for up to four tax years for each apprentice. The apprentice must be employed by the taxpayer for at least 7 full months of the tax year. 

http://www.apprenticeshipcarolina.com/

Credit for Employers Hiring Recipients of Family Independence Payments

Credit for Employers Hiring Recipients of Family Independence Payments 
This is a state tax credit for businesses that employ persons who received Family Independence (FI) payments in this state for three months immediately before becoming employed. Businesses can receive basic credit amounts equal to 20% of wages paid to such employee for each full month of employment during the first 12 months of employment; 15% of wages paid during the second 12 months of employment; and 10% of wages paid to the employee during the third 12 months of employment. The employer must make health insurance available to the employee on the same basis as all employees. Other employer eligibility includes submitting an employee release and a written request certifying FI eligibility for each of the newly hired employees from the Department of Social Services. You have 15 days after the end of the tax year in which the FI payment recipient is hired to request verification. The total amount claimed per employee under both the job tax credit and the FI credit is limited to $5,500 unless the taxpaying business is located in a Tier IV county that qualifies for a higher limit. For county classification information, contact the SC Department of Revenue at 803-898-5709. Any unused credit may be carried forward for 15 years. Contact: SC Department of Social Services at 800-768-5700.

http://help.workworldapp.com/wwwebhelp/workforce_development_family_independence_tax_credit_south_carolina.htm

Small Business Health Care Tax Credit

Small Business Health Care Tax Credit 
This federal tax credit is available to small businesses and tax-exempt organizations. To be eligible for the credit, employers must meet the following criteria: 1) have fewer than 25 full-time equivalent employees (two half-time workers count as one full-time equivalent employee); 2) must pay premiums on behalf of the employees enrolled in a qualified health plan provided through The Small Business Health Options Programs (SHOP) Marketplace; 3) pay at least half the cost of qualified “single” (employee-only) health care coverage for of our employees; 4) pay wages averaging less than $50,000 per full-time equivalent employee per year. The credit may be equal up to 50% paid by eligible small businesses and up to 35% paid by eligible small tax-exempt organizations for 2 consecutive years beginning in 2014.

https://www.irs.gov/uac/Small-Business-Health-Care-Tax-Credit:-Questions-and-Answers

 

Disabled Access Tax Incentives

Disabled Access Tax Incentives
Small businesses are eligible for two tax incentives to help cover the cost of providing reasonable accommodations for employees or customers with disabilities, such as sign language interpreters, readers, materials in alternative format (such as Braille or large print), the purchase of adaptive equipment, the modification of existing equipment, or the removal of architectural barriers.

https://askjan.org/media/tax.html

Architectural and Transportation Barrier Removal Deduction

Architectural and Transportation Barrier Removal Deduction
Businesses may choose to deduct up to $15,000 for making a facility or public transportation vehicle, owned or leased for use in the business, more accessible to and usable by individuals with disabilities. A facility is all or any part of a building, structure, equipment, road, walk, parking lot, or similar property. A public transportation vehicle is a vehicle such as a bus or railroad car that provides transportation service to the public or to customers.

For additional information on Section 190, contact your local IRS office, go to their website at http://www.irs.gov/businesses, or phone them at (800) 829-4933 (V) or (800) 829-4059 (TTY).

WIOA Incentives  (Workforce Innovation and Opportunity Act)

WIOA Incentives  (Workforce Innovation and Opportunity Act)

The incentives listed below are through WIOA, and are only available to WIOA eligible and enrolled participants.  WIOA falls under the umbrella of SC Works along with SCDEW.

  1. On-the-Job Training (OJT) is offered through the WIOA Program to enable businesses to reduce their costs for hiring and training new workers who meet WIOA eligibility. The business may be reimbursed up to 75% of the gross wages paid to each eligible worker during their first 4 weeks of employment (depending on qualifying circumstances). The worker must be pre-qualified by WIOA prior to the start of training and the proper OJT paperwork must be in place prior to the new hire beginning employment.
  1. Work Experience (WE) is a planned, structured learning experience that takes place in a workplace for a limited period of time, typically 4 weeks. This temporary training program allows registered WIOA participants an opportunity to gain exposure to the world of work. While the WE may be paid or unpaid, the participant usually earns a stipend through WIOA.
  1. Incumbent Worker Training (IWT) provides resources for businesses to train currently employed workers in an effort to keep businesses and workers competitive. IWT provides funding for training needed in current businesses due to expansion, new technology, retooling, new services/product lines and new organizational structuring or as part of a layoff aversion strategy. IWT may also fund training in new businesses if those jobs are ineligible for assistance through ReadySC™.  

Anyone interested in more information on WIOA incentives can either call (864) 467-8080 or email WIOAinfo@greenvillecounty.org.