Other Federal and State Tax Incentives
With the right process in place, your strategic investments can yield material tax credits.
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State Jobs Credit
Seeking a competitive advantage in attracting business, many states offer credits for hiring or retaining employees. They may focus on reducing unemployment among certain underserved groups in the population, or on creating a skilled workforce by prioritizing quality jobs in certain industries. TCC navigates compliance on behalf of our clients, while maximizing the benefit.
The Empowerment Zone and Indian Employment Credits expired at the end of 2016. In 2017 they were retroactively extended through the end of that year. Congress will be considering a similar extension for 2018.
A variety of incentives are available for employers located in the state’s Enterprise Zones. Colorado state tax credits are available for businesses investing in job training (whether that training occurs onsite or offsite). Incentives also apply to companies expanding their workforce.