Businesses that hire the hard-to-place can get tax credits

This from the Washington Department of Employment Security today. Contact them for more, Rachel Pritchett

OLYMPIA – Washington employers will collect a record $56 million in 2011 federal tax credits because they hired certain hard-to-place job seekers.

The Work Opportunity Tax Credit provides up to $2,400 in tax savings per worker to businesses that hire military veterans, the disabled, ex-inmates, food-stamp recipients and individuals who receive Supplemental Security Income. Additionally, businesses that hire long-term welfare recipients can save as much as $9,000 per person over two years.

In 2012, businesses can enjoy even greater tax savings for hiring veterans, including up to $5,600 for long-term unemployed veterans and as much as $9,600 for those who have a service-connected disability.

To receive the tax credit, each new employee must work a minimum of 400 hours during the first year of employment and earn at least $6,000.

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