The Arkansas Trucking Association (ATA) named new endorsed partner Clarus Solutions, which offers a Work Opportunity Tax Credit service. Clarus Solutions helps businesses and communities maximize the multi-faceted benefits of WOTC.
The Work Opportunity Tax Credit is a federal program available to employers of all sizes. Enacted in 1996, this program was created to encourage the hiring of individuals who typically have a difficult time finding employment. Any entity that pays federal taxes is eligible to leverage the WOTC program.
“We are pleased to help inform our members and aid them in navigating the WOTC program. We believe the program is a perfect fit for the trucking industry because our members are hiring drivers every week. With this partnership, we encourage them to take advantage of available tax credits to help recapture some of those costs,” stated Shannon Newton, president of ATA.
Estimates show that carriers could be eligible for tax credits on18 percent of newly hired drivers, and the average credit is approximately $2,150, potentially eliminating a company’s federal tax liability by 50 to 100 percent.
WOTC represents a permanent reduction in income tax and directly reduces a business’s effective tax rate. There is no limit to the amount of credit available through the program as a whole or to a single employer.
Clarus Solutions has developed a process to screen applicants for eligibility, ensure compliance with necessary requirements and evaluate the direct impact of hiring decisions to tax credits using online tools.
“It is important that there is zero disruption of payroll, accounting, human resources or recruiting staff,” said Philip Wentworth, vice president of sales and business development at Clarus Solutions. “I think the reason that we have retained all of our trucking and logistics customers is that we know the tax credits and they know trucks; so our team is able to deliver a turnkey project plan specific to each motor carrier that fully maximizes our client’s tax credits which reduces their federal tax liability.”
ATA members are invited to call today for a free, no obligation WOTC Assessment. Within 20-minutes, Clarus Solutions can estimate your carrier’s expected tax credits. Email at wotc@clarussolutions.org or call 614-545-9100.
