• Nov 20, 2024
  • 10:24 PM

Employers

Employer Toolkit

Patriot Employer Program: The Patriot Employer Program provides your business with education and support to help fill your team with employees who’ve already proven to be successful. The program shows you where to find veterans, how to retain them, the tax credits available and other benefits to hiring men and women who have served our country. Veterans possess outstanding leadership and technical skills that make them an asset to any organization. Engaging this key talent pool benefits a company in measurable ways.

Entrepreneurship: In addition to protecting our freedom at home and abroad, U.S. veterans are returning home and strengthening our economy. In fact, 10% of all small businesses in the United States are launched and run by veterans.

Preference to Veteran-Owned Businesses: There are several federal and state programs that provide opportunities for veteran-owned businesses.

Resources for Employers: Find more resources about the benefits and incentives to hiring veterans.

Other Resources

Governor’s Office of Economic Development (GOED): If you’re a business owner, looking to relocate to the State of Nevada, this Office will provide your company with lots of resources.

GuideStar: Provides assistance to Nevada businesses seeking federal grants.

Local Veterans Employment Representative: Local Veterans Employment Representative (LVER) conduct outreach to employers and engage in advocacy efforts with hiring executives to increase employment opportunities for veterans and encourage the hiring of veterans. LVER staff work with other service providers to promote and facilitate priority services to veterans. LVER staff advocate on behalf of veterans for employment and training opportunities with business, industry and community-based organizations.

Nevada District Office of the Small Business Administration: The Small Business Administration (SBA) provides many different programs, including free counseling, designed to help entrepreneurs. If you’re a veteran, the SBA can assist you in providing information about SBA guaranteed loans. The SBA also offers programs to assist minorities and women business owners. For more information, here is the Small Business Administration’s Resource Guide (PDF).

Nevada State Purchasing System: Many businesses consider the idea of selling their products or services to the government much too complicated and overwhelming.  In today’s marketplace, the government could become your best customer.  The Nevada Procurement Technical Assistance Center (PTAC) helps simplify the process and cut through the red tape, connecting Nevada businesses with lucrative opportunities.

Nevada Small Business Development Center: The Nevada Small Business Development Center is a statewide business assistance outreach program of the University of Nevada, Reno, College of Business. It provides a wide variety of technical assistance to support Nevada Business. The purpose of the Nevada Small Business Development Center is to guide and assist entrepreneurs in starting and growing their businesses in today’s dynamic market.

NevadaSmallBusiness.com (sponsored by Nevada Bank): This is a one-stop, digital resource center for business owners, executives and entrepreneurs. It even provides advice from nationally known financial experts with view on demand webinars and topics of interest to your company.

WomensNet: Provides a variety of Nevada resources for women entrepreneurs, executives or business owners.

Special Employer Incentives for Hiring Veterans

Learn more about the incentives offered and also check out the Patriot Employer Program.

Work Opportunity Tax Credit

The Work Opportunity Tax Credit (WOTC) is a federal tax credit incentive that Congress provides to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment.

Application Process

Employers must apply for and receive certification from the DWS WOTC Unit verifying that their new hire is a member of a WOTC target group before they can claim the WOTC on their federal tax return.

Claiming the Tax Credit

Contact the IRS at irs.gov or 1-800-829-3676 to obtain forms and instructions regarding how to claim the Work Opportunity Tax Credit. Tax law questions should be directed to the IRS or your tax attorney.

Electronic Applications

DWS is now accepting secure transfer of electronic applications for WOTC certifications. Employers and agents must obtain an Access Key prior to their first submission by calling 1-800-859-3203. It is the responsibility of the employer to maintain signed hard copies of Form 8850.

Paper Applications

  1. Complete the IRS Form 8850, Pre-Screening Notice and Certification Request, for the Work Opportunity Tax Credit. Find instructions here. (https://www.irs.gov/pub/irs-pdf/i8850.pdf)
  2. Complete the U.S. Department of Labor ETA Form 9175 (https://www.doleta.gov/business/incentives/opptax/docs/ETA_Form_9175.pdf) Self-Attestation Form for application of the Long-Term Unemployment Recipient category only. This form must be returned following the methods described below.
  3. Complete the U.S. Department of Labor ETA Form 9061, (https://www.doleta.gov/business/incentives/opptax/docs/ETA_Form_9061_English.pdf)Individual Characteristics Form.
  4. Mail or hand-deliver signed and dated forms within 28 calendar days of the new hire’s start date to: Nevada Department of Veterans Services, Attention Matt Taylor, 555 E. Washington Ave., Suite 3200, Las Vegas, Nevada 89101

Unemployed Tax Credits

Qualified Long-term Unemployment: This is a credit for new hires that begin work on or after January 1, 2016 through December 31, 2019, during which the individual is employed no less than 27 consecutive weeks, and includes a period in which the individual was receiving unemployment compensation under State or Federal law. For WOTC-certified new hires working at least 120 hours, employers can claim 25% of the first year wages paid up to $6,000, for a maximum income tax credit of up to $1,500. For WOTC-certified new hires working 400 hours or more, employers can claim 40% of the first year wages up to $6,000, for a maximum income tax credit of up to $2,400.

Returning Heroes Tax Credit

Short-term Unemployment: A credit of 40% of the first $6,000 of wages (up to $2,400) for employers who hire veterans who have been in receipt of unemployment compensation for at least 4 weeks or who have received assistance from a supplemental nutrition assistance program under the Food and Nutrition Act of 2008 for at least a three month period during the 15 month period ending on the hiring date.

Long-term Unemployment: A credit of 40% of the first $14,000 of wages (up to $5,600) for employers who hire veterans who have been in receipt of unemployment compensation for longer than 6 months (whether or not consecutive) in the one year period on the hiring date.

Wounded Warrior Tax Credits

Veterans with Services-Connected Disabilities: Maintains the existing Work Opportunity Tax Credit for veterans with service-connected disabilities hired within one year of being discharged from the military. The credit is 40% of the first $12,000 of wages (up to $4,800).

Long-Term Unemployed Veterans with Services-Connected Disabilities: A new credit of 40% of the first $24,000 of wages (up to $9,600) for firms that hire veterans with service-connected disabilities who have been in receipt of unemployment compensation for longer than 6 months. The credit can be as high as $9,600 per veteran for for-profit employers or up to $6,240 for tax-exempt organizations.

Certain tax-exempt organizations can take advantage of WOTC by hiring eligible veterans and receiving a credit against the employer’s share of Social Security taxes.

To collect on these credits, your company must do the following:

  • Complete IRS Form 8850 by the day the job offer is made.
  • Complete ETA Form 9061, or complete ETA Form 9062 if the employee has been conditionally certified as belonging to a WOTC target group by a State Workforce Agency, Vocational Rehabilitation agency, or another participating agency.
  • Submit the completed and signed IRS and ETA forms to your State Workforce Agency. Forms must be submitted within 28 calendar days of the employee’s start date.
  • Wait for a final determination from your State Workforce Agency. The determination will indicate whether the employee is certified as meeting the eligibility for one of the WOTC target groups.
  • After the target group employee is certified by the State Workforce Agency, file for the tax credit with the Internal Revenue Service.

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