How are the WOTC Tax Credits Calculated?
At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website.
CMS Says: The Work Opportunity Tax Credit is equal to 25% or 40% of a new employee’s first-year wages, up to the maximum for the target group to which the employee belongs. Employers will earn 25% if the employee works at least 120 hours and 40% if the employee works at least 400 hours. Typically 10-15% of new hires may be eligible, and the average tax credit is $2,400 based on 400 hours.
Contact CMS Today to Start Saving!
In our 21+ years of performing WOTC Screening and Administration we’ve saved millions for our customers.
Contact CMS today to start taking advantage. Call 800-517-9099, or click here to use our contact form to ask any questions.