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Monthly Archives: January 2014

State tax credits provide valuable incentives to businesses

January 10, 2014

While many businesses know about the Work Opportunity Tax Credit (WOTC) and other federal incentives, in many instances employment related credits are available on a state by state basis that can potentially save thousands in taxes.  HK Payroll Services, Inc. (HKP) research team combed through hundreds of state incentives to locate those that will benefit your business without jumping through too many hoops. Each state’s programs vary widely, and the most important thing to remember before inquiring about these credits is that your business must be paying taxes in that state to take full advantage. While the credits listed below are certainly not all inclusive, they are pertinent examples of potential tax savings for your business.