State issues record number of federal tax credits

For the fiscal year ending in September last year, the Tennessee Department of Labor and Workforce Development issued a record high 64,300 Work Opportunity Tax Credit certifications to Tennessee employers — a move representing an estimated $232 million in federal income tax savings, according to a department statement.

“The WOTC program is available for use by any for-profit employer, large or small," said Roger Littlejohn state Work Opportunity Tax Credit coordinator. "Some employers are used to thinking they cannot take advantage of the program or that it’s just for larger employers. That is not the case. And a non-profit employer can now take part if the hired employee is from one of five veteran target groups.”

Click here for more information about the target groups, other rules and the application process.