The state of Utah’s Department of Workforce Services has provided CMS with its Work Opportunity Tax Credit statistics by target group for 2015 and 2016.
The Work Opportunity Tax Credit (WOTC) is a federal tax credit incentive that Congress provides to employers that hire individuals from target groups who have consistently faced significant barriers to employment.
The Beehive State reports that they received 28,908 WOTC applications in 2015, certifying 10,386 applications, or almost 36% of the total applications.
In 2016, Utah received 30,186 applications, and have certified 14,364 applications. An increase of 3,978 over the prior year. 47.5% of applications in 2016 were certified.
In both years the dominant qualifying category was SNAP (food stamp recipients). 68% in 2015 and 70% in 2016 were SNAP recipients.
Ex-Felons: 8.6% in 2015, and 9.4% in 2016.
Vocational Rehab: 8% in 2015, and 6.8% in 2016.
Short-Term TANF: 3.2% in 2015, and 3.8% in 2016.
Long-Term TANF: 1.8% in 2015, and 2.1% in 2016.
Veteran Categories:
Veteran SNAP: 3.1% in 2015, and 2% in 2016.
Disabled Veteran: 0.43% in 2015, and 0.37% in 2016.
Unemployed Veteran: 2% in 2015, and 1.5% in 2016
The 5 Veteran Categories accounted for a total of 6.5% of certifications in 2015, and 4.3% in 2016.
Utah WOTC Statistics 2015-2016:
(Click to see full-size table)
About CMS Tax Credit Services
CMS has worked with WOTC since 1997, and we have found over the years that on average 10-15% of all new employees can fall into one of the tax credit categories that qualify for a tax credit. The average credit received is between $1,500 – $9,600 per qualified new hire depending on the target group. Some of our customers have saved a phenomenal $100,000 in a single year.
How Much Can We Save You?
To find out your potential savings, please see our WOTC Calculator. There’s never been a better time to learn about WOTC. Please contact us at 800-517-9099 to speak to a Work Opportunity Tax Credit expert today.