Wednesday, September 8, 2010

Illinois small business owners get tax break for hiring

Wondering if the time is right to add the next position to grow your small business? Act now and earn a tax credit.

Small businesses are the foundation of a great economy. To help spur on your success, the State of Illinois is offering tax credits when you create a new, full-time position. After hiring the employee, your business can apply online to receive a $2500 tax credit against withholding taxes which will be awarded after July 1, 2011. The credits are available on a first-come, first-served, basis.

To apply, simply go online to jobstaxcredit.illinois.gov. You’ll need to provide basic information including your FEIN. In a year, eligible companies will receive a tax credit certificate.

View the Small Business Flyer as well as a FAQ's

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