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WORK
OPPORTUNITY TAX CREDIT AVAILABLE FOR CRAWFORD COUNTY EMPLOYERS!!! |
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Congress passed legislation to have a tax
credit available for employers located in rural renewal counties. Crawford,
Seneca, Van Wert, Paulding and Monroe are all counties in Ohio that qualify.
How you may benefit from this
credit?
Anyone who hires a resident of the above counties may qualify
for a $2,400 credit for the first $6,000 in wages paid to a newly hired
employee who is a certified member of a targeted group.
What are "targeted groups"?
The credit applies to certified members of the following groups:
What is required?
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Employee’s residence
– the employee’s principal place of residence must be in a rural
renewal county listed above.
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Employee’s age – must
be between the ages of 18 and 39 as of the date he or she is hired.
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Certification
Requirements – you must meet one of two requirements:
- On or before the day an
individual begins work, the employer has received a
certification from state employment agency that the employee
is a member of a targeted group.
- On or before the day an
individual is offered employment with the employer, a
pre-screening notice is completed by the employer with respect
to such individual, and not later than the 28th day
after the individual begins work for the employer, the
employer submits such notice, signed by the employer and the
individual under penalties of perjury, to the designated state
agency as part of a written request for certification.
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 | IRS Form 8850,
Pre-Screening Notice and Certification Request for Work
Opportunity Credit may be used for this purpose. |
| ETA Form 9061 from the
Department of Labor is required by the Department of Job
and Family Services for Ohio purposes. |
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How is the credit
calculated?
Multiply 40% times the first $6,000 in wages paid to every new
employee who is a certified member of a targeted group and resides in a
rural renewal county and is between the ages of 18 and 39 (40% x $6,000 =
$2,400).
Observation
IRS form 8850 and ETA Form 9061 must be signed by the employee on
or before the day the job offer is made. If you fail to fill out the
proper paperwork before you offer employment to an individual, you will
lose this valuable credit. We suggest that these forms are incorporated
into your new hire process. Therefore, it will insure you do not miss future
tax credits opportunities.
This tax credit opportunity will be open until September 1, 2011. Take
advantage of this credit which could significantly reduce your tax bill,
benefiting you and your business.
For more information, visit the website of the Ohio Department of Job and
Family Services for specific instructions on how to participate in the
program at http://jfs.ohio.gov/wotc/Participate.stm.
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As always, we thank you for
allowing MizickMiller to serve as your accounting and financial information
professionals.
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