Work Opportunity Tax Credit and Federal Bonding
These programs provide incentives to businesses willing to hire individuals facing barriers to employment.
The SC Department of Employment and Workforce administers two U.S. Department of Labor programs, Work Opportunity Tax Credit and Federal Bonding in South Carolina. Both programs are uniquely different but share the same goal of providing incentives to businesses willing to hire individuals facing barriers to employment.
LOWER YOUR GENERAL TAX LIABILITY AS YOU HIRE NEW STAFF
The Work Opportunity Tax Credit (WOTC) program provides tax credits for businesses each time they hire a new, eligible employee. The program is simple. Businesses make the hiring decision and complete minimal paperwork to apply for the credit. With absolutely no limit on the number of qualified hires your business can claim, you can receive a maximum credit anywhere from $1,200 to $9,600 for each one of your eligible employees. Take advantage of the WOTC program and increase your return on investment while helping targeted employees become self-sufficient and earn a steady income.
Contact the S.C. Department of Employment and Workforce for more information at [email protected] or visit https://bit.ly/4bxwnBA.
EXPAND YOUR CANDIDATE POOL & MITIGATE RISK
Federal Bonding is a fidelity insurance program that helps employers confidently hire jobseekers who are considered “at-risk.” The program provides risk mitigation for employers willing to hire employees who may be hard-to-place due to circumstances such as judicial involvement. The fidelity insurance coverage can be issued from $5,000 to $25,000 for the first six months of employment at no cost to either the employer or the employee.
Contact the S.C. Department of Employment and Workforce for more information at [email protected] or visit https://bit.ly/406aVwt.
