| WAGE CREDITS |
DESCRIPTION |
AVAILABILITY |
| Renewal Community Wage Credit |
Credit against Federal taxes up to $1,500 for businesses for each year of the RC
designation for every existing employee and new hire who lives and works in the RC. |
Available beginning January 1, 2002 through December 31, 2009. Cannot count wages
for both the WOTC and WTW credits and the RC Wage Credit. |
| Work Opportunity Tax Credit |
Credit up to $2,400 against Federal taxes for businesses for each new hire from groups that have high
unemployment rates or other special employment needs, including youth ages 18-24 who live in an RC,
and summer hires ages 16 to 17 who live in an RC. Individuals do not have to work in the RC but must
live within the RC for businesses to be eligible for this credit. |
Businesses do not have to be in an RC to qualify. Cannot be combined with WTW credit but can be coordinated with
it. The Workforce Development Cabinet for the Kentucky Department of Employment Services must certify employees
as being a part of the targeted groups. |
| Welfare-to-Work Tax Credit |
Two-year credit against Federal taxes for businesses that hire long-term family assistance recipients. Credits
up to $3,500 for the first year, and $5,000 for the second year for each new hire. |
Business does not have to be in an RC to qualify. Cannot be combined with the WOTC but can be coordinated with it.
The Workforce Development Cabinet for the Kentucky Department of Employment Services must certify employees as being
a part of the targeted groups. |
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