Tuesday, April 19, 2011

This Week With the Chamber

There is still time to earn your $2,500 Illinois Tax Credit!

When your business creates a new position and hires a new full time employee with a salary of $10.00 per hour or more, your company can receive a $2,500 Illinois Tax Credit.

Small businesses (50 or fewer employees) still have time to save $2,500 per person when they hire a new full time employee.  Here are the highlights:
  •  Eligible if, as of June 30, 2010, you employed 50 or fewer full-time employees (counting all locations)
  • Eligible Jobs created between 7/1/10 - 6/30/11
  • Position pays no less than $10/hour or equivalent with minimum $18,200 annually.
  • Position sustained for at least one year (not necessarily held by the same individual for the year).
  • Withholding tax goes to Illinois.
  • Hourly or full-time, but not partners or independent contractors.
  • Tax Credits - Certificate after one year
Visit the website to register and learn more about this tax saving opportunity.  

http://jobstaxcredit.illinois.gov/

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