Tax Credits - Hiring & Training

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Job Creation

State of Illinois Small Business Job Creation Tax Credit
The Illinois Small Business Job Creation Tax Credit program  offers Illinois small businesses a tax credit of $2,500 for every new, full-time job they create. Small businesses are defined as companies with 50 or fewer full-time employees. Register your new positions online and obtain the credit without ever having to leave your office.

$2,500/employee 800.252.2923
JobsTaxCreditProgram@illinois.gov
State of Illinois Angel Investment Program
The Angel Investment Program is designed to attract and encourage the placement of investment dollars into early-stage, innovative companies throughout Illinois. The program can offer a tax credit to qualified investors in an amount equal to 25% of their investment made directly in a qualified new business venture.

25% of investment 217.557.0513
angelinvestment@illinois.gov

Hire Targeted Groups

Federal Work Opportunity Tax Credit
WOTC is a federal program that provides tax savings to employers who hire from certain target groups, including public assistance recipients, veterans, youth, and ex-felons.

5% of qualified wages paid, or up to $600/hire  
Illinois Tax Credit for Hiring Ex-Offenders
The Ex-Offenders Jobs Credit allows any employer that hires any number of "qualified ex-offenders" to apply for a credit amount equal to 5% of qualified wages paid or up to $600 per hire. A "qualified ex-offender" must be formerly incarcerated from an Illinois adult correction facility and was hired within the first year of his/her release from prison.

5% of qualified wages paid, or up to $600/hire  
Illinois Veteran's Tax Credit
Illinois employers can earn a State income tax credit of up to $1,200 annually for hiring veterans of Operation Desert Storm, Operation Enduring Freedom, or Operation Iraqi Freedom. The credit is 10% of the total wages paid to every qualified Veteran hired after January 1, 2010. Veterans must work at least 185 days during the tax year for the employer to qualify for the Veteran's Tax Credit.

Up to $1,200  

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