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Tax Credits For Employers
Cost Management Services
saves companies of all sizes between 10% - 30% percent of their
total labor costs with the CMS Work Opportunity Tax Credit
Program. The WOTC program is designed to give employers an
incentive to hire welfare-to-work employees. By
taking advantage of the CMS WOTC program you can save up to
$3,500 per new hire the first year, and up to $5,000 the second
year of employment.
CMS will provide your
organization with the tools to maximize the WOTC tax
incentives. In addition CMS will provide the following
benefits:
- CMS will identify
eligible employees.
- CMS understands all the
Federal and State guidelines for your company to obtain the
eligible tax credits
- CMS handles all the
administrative duties necessary to obtain WOTC in your
state.
- CMS protects your
organization from asking the sensitive questions necessary
to obtain the WOTC tax credits.
WOTC Facts
- The maximum tax credit
for each new employee is $2,400.
- If you hire a qualified
individual whom you employ for at least 400 or more hours
during the first 12 months, your company may receive a
credit of 40% of his or her qualified wages.
- If you hire a qualified
individual whom you employ for at least 120 hours, but fewer
than 400 hours, during the first 12 months, your business
may receive a tax credit of 25% of his or her qualified
wages.
- The Summer Youth group
qualified wages earned from May 1, through September 15 for
an individual are capped at $3,000.
Download or Print the WOTC Brochure.
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| Who is eligible for the WOTC Program?
WOTC applies
to new employees hired on or after December
31, 2003, and before January 1, 2006.
Click on any
of the above groups for a more detailed description. |
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How
WOTC Works For You
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"We have been
using CMS' tax credit program for over five years now, and the
results have been excellent, saving us over $100,000 over all our
corporations. I would strongly recommend using Cost Management
Services' Tax Credit Program."
- Rich McCarthy, Great American |
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