Construction Update

Who Qualifies for the WOTC?

Employers can qualify for a Work Opportunity Tax Credit for new hires who meet certain criteria:

• A member of a family receiving Temporary Assistance to Needy Families (TANF) or Aid to Families with Dependent Children (AFDC).
• A member of a family receiving food stamps — either 18 to 24 years old or a veteran of any age.
• A resident of a federally designated Empowerment Zone, Enterprise Community or Renewal Community — either 18 to 24 years old, or 16 to 17 years old if hired as a summer employee.
• A disabled person who has completed or is enrolled in rehabilitative services from a state or the U.S. Department of Veterans Affairs.
• An ex-felon who is a member of a low-income family.
• A recipient of Supplemental Security Income (SSI) benefits.
• A business employee of the New York Liberty Zone.

The amount of the credit ranges from $750 for a short-time summer hire to $2,400 for a full-time adult who works a minimum of 400 hours.

For more information about our services to the construction industry, Contact:
Mark Lund, Parter-in-Charge of Construction Services at 713.297.6907.

The articles in this newsletter are general in nature and are not a substitute for accounting, legal, or other professional services. We assume no liability for the reader's reliance on this information. Before implementing any of the ideas contained in this publication, consult a professional advisor to determine whether they apply to your unique circumstances.