Work Opportunity Tax Credit, or WOTC, is a business tax credit that allows companies to receive tax credits for hiring individuals that either live in certain locations or are part of targeted groups that have consistently faced significant barriers to employment. With the WOTC program, one company can receive up to $9,600 in tax credits for each employee hired.
Below is the list of targeted groups that meet the requirements for WOTC eligibility:
- TANF Recipients
- SNAP Recipients
- Designated Community Residents living in Empowerment Zones or Renewal Communities
- Vocational Rehabilitation Referrals
- Supplemental Security Income (SSI) Recipients
- Summer Youth Employees living in Empowerment Zones
- Qualified Long-Term Unemployment Recipients
- Long-Term Family Recipient
For an overview of the WOTC program and to learn more about hiring tax incentives, click here.