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Incentives Alerts

New State Tax Credit Opportunity - Maryland Work Opportunity Tax Credit

Apr 22, 2022 by Maureen Hourihan

Maryland recently passed legislation that creates a state income tax credit match for the federal Work Opportunity Tax Credit (WOTC). WOTC is a federal tax credit program which incentivizes employers to hire individuals with barriers to employment. Maryland has created a nonrefundable state income tax credit which provides a credit...

Reminder to pre-certify Colorado Enterprise Zone locations yearly

Mar 15, 2022 by Julie Dietz

The Colorado Enterprise Zone Program is a valuable tax credit opportunity for businesses located in one of 19 designated areas of Colorado. Companies in any industry can qualify for this tax credit opportunity. Enterprise Zone businesses can participate in several Colorado Income Tax Credit programs including the Investment Tax Credit,...

Georgia Job Tax Credit change benefits companies affected by COVID-19

Feb 08, 2021 by Julie Dietz

As we begin the filing season for tax years beginning on January 1, 2020, Georgia has recently made a positive change for companies negatively affected by COVID-19.

Georgia House Bill 846 allows businesses who calculate the Georgia Job Tax Credit to use 2019 headcount for their 2020 and 2021 credit reports....

COVID-Related Tax Relief Act of 2020 Provides Corporate Tax Benefits

Dec 27, 2020 by Maureen Hourihan

The President signed the COVID-Related Tax Relief Act of 2020 (COVIDTRA) and government funding bill into law today. Many of the provisions of COVIDTRA will benefit Silverlode clients, including the following extensions and expansions:

  • Federal Empowerment Zones (FEZ) and Work Opportunity Tax Credit (WOTC) - Five year extension
  • Indian Employment Credit (IEC)...

    Overlooked Indian Employment Tax Credit Opportunity

    Oct 30, 2020 by Julie Dietz

    The Federal Indian Employment tax credit is a lucrative and often overlooked business tax credit. The credit equals 20% of an employee’s wages and companies can claim a federal tax credit of up $4,000 per employee.

    Many companies who qualify for this credit do not capitalize upon this opportunity because of...