Tax Credit Strategies: Identify and Hire Veteran Candidates

Walton Management Services, Inc. (WMS) is excited to announce our new partnership with RecruitMilitary, the leading full service military-to-civilian recruiting firm in the United States. This integration will allow employers to strategically target well-regarded veteran hires, thereby maximizing their potential tax credits from the Work Opportunity Tax Credit (WOTC) Program veteran target group. By leveraging ...
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Partner UI News: Michigan Taxable Wage Base for 2015 Updated

Barnett Associates, a key strategic WMS partner and expert in Unemployment Cost Control provides update regarding Michigan taxable wage base for 2015. Beginning with the third quarter of 2015, the TWB – the maximum annual wage on which an employer must pay unemployment taxes – will be lowered from the current rate of $9,500 to $9,000. This means that non-delinquent contributing employers will pay less in unemployment taxes for the upcoming quarters. In 2011, measures were taken by Michigan’s legislature that aimed to ensure adequa...
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iCIMS releases first quarter 2015 U.S. hiring trends

iCIMS, a leading global provider of applicant tracking and recruiting software, has recently released a report on job creation and demand trends for industries, geographies, and company sizes within the United States. Some key findings of the report include: The West has the highest demand for talent (i.e., open positions) in the healthcare industry. The technology and construction industries have the largest gap between talent entering the hiring pipeline and ...
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WOTC Extension Bill Passes Senate Finance Committee

The Senate Finance Committee overwhelmingly approved a tax extenders bill with a vote of 23-3.  In order to enhance passage, only a few amendments were allowed, and none affected a number of significant changes to certain tax credit programs in the original bill. The bill reauthorizes the Work Opportunity Tax Credit (WOTC) Program for a two-year period: Retroactively from January 1, 2015 through December 31, 2016.  The VOW to Hire Heroes Act tax credits for hiring post 9/11 disabled and other veterans also were extended for the same period as were the empowerment zone de...
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New Alabama Jobs Act

The Alabama Jobs Act provides incentives to businesses for projects that create new jobs and whose predominant activity involves chemical manufacturing, data centers, engineering, design, research or metal/machining technology, or for businesses that create new jobs and have a base workforce of at least 50 new employees for all other projects. Unless the program is extended or expanded, project agreements must have been executed on or prior to December 31, 2019, with an aggregate balance of outstanding incentives not to exceed $850 million.  Companies may claim either or both...
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California Film and Television Tax Credit Program – Sales and Use Tax Liability

Significant changes have been made to the California Film and Television Tax Credit Program, which allows qualified taxpayers a tax credit against income and/or sales and use tax liabilities based on qualified expenditures for film and television shows produced in California. Under A1839, not only has a new ranking system replaced the current lottery system as well as an expansion of eligibility to big-budget feature films, one-hour TV series, and TV pilots; elimination of budget caps for studio and independent films; and a funding increase from $100M to $300M per fiscal year; but also a Ne...
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Florida Enterprise Zone Program Set to Expire – Take Advantage Now

Although the Florida Enterprise Zone Act is scheduled to sunset on December 31, 2015, businesses may apply to the Florida Department of Economic Opportunity for the incentives associated with the Florida Enterprise Zone for an additional three years. Businesses must satisfy the following criteria: the business has entered into a contract with the department for a project, as provided, between January 1, 2012, and July 1, 2015; the contract is deemed active by the department and has not expired or been terminated; and the project that is the ...
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Wisconsin Allows Tax Credits to Expire

Several Wisconsin tax credits expired for taxable years beginning on or after January 1, 2014. While no new credits may be computed, according to the Wisconsin Department of Revenue unused nonrefundable credits computed prior to the expiration date may be carried forward subject to the carryforward limitations of each credit. The following Wisconsin tax credits have expired for taxable years beginning on or after January 1, 2014: Refundable Credits Dairy manufacturing facility investment credit Meat processing facility investment credi...
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California Competes Tax Credit Application Period Open

Applications are now being accepted for the California Competes Tax Credit.  The California Competes Tax Credit provides an income or franchise tax credit to businesses that relocate to California or expand within California.  The proposed business venture, investment, or expansion in California is the basis for award of the California Competes Tax Credit.  Applications are reviewed by The Governor's Office of Business and Economic Development (GO-Biz) and will be accepted through April 6, 2015.  This application period is the last of three for fiscal year 2014/15.

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WOTC Extended Deadline for 2014 IRS 8850 Form Filing

IRS Notice 2015-13, “Work Opportunity Tax Credit (WOTC) Extension For 2014.” The notice may be accessed at www.irs.gov/pub/irs-drop/n-15-13. Employers have until April 30, 2015 to file certification requests (IRS Form 8850) with the appropriate state workforce agency for workers hired from January 1 through December 31, 2014. The Not...
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