Wisconsin Gov. Scott Walker recently signed legislation aimed at creating more jobs in the state by increasing the amount of money available for employers through the state’s Jobs Now Tax Credit.
Under current law, employers who create jobs can claim the Jobs Now Tax Credit based on the wages paid to new employees and on certain training costs. The credit is 10 percent of qualified new employee wages or $10,000, whichever is less. To qualify, new jobs must pay annual wages of at least $20,000 or at least $30,000, depending upon the classification of the municipality or county in which the new job is located. The employer must be certified by the Wisconsin Economic Development Corp. as eligible to claim the credit.
Beginning in the fiscal year 2013-14 and thereafter, the new bill increases the maximum amount of credits that the WEDC can allocate from $5 million to $10 million.
“This bill enhances our efforts to put people in Wisconsin back to work. Job creation fuels the economy and will keep this state moving in the right direction.” Walker said. “I would like to thank Rep. Mary Williams for her work on this important legislation.”
Walker signed the bill during an appearance at Tess Oral Health in Eau Claire Tuesday.
