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Santa Maria California Form 8850: What You Should Know

Payment due date will be listed on the back of the tax form — Tax Organizer Tax Forms — Tax Organizer Employee Identification Number (EIN), and Tax Identification Number (TIN), to apply for a Work Opportunity Credit Work Opportunity Tax Credit The California Work Opportunity Tax Credit (ROTC) provides a non-refundable, non-refundable tax credit for qualified non-resident individuals for the first 120 consecutive days that the individuals work for or receive wages (including fringe benefits or tips) to qualify for this credit and have their wages fully tax-deductible. All individuals who are unable to obtain benefits within 120 days or who are not employed by a California employer must work at least 26 consecutive hours for an employer not located in California during the tax period, or for an employer who does not collect California tax, in the same job or on the same job, within 120 days of the work credit to qualify for the credit.  How to Apply for the Credit? Employers and individuals must be eligible for the credit by filing IRS Form 8850, Application for Work Opportunity Credit. The form shall be completed and returned to the Department of Education, Employment Development Department, 160 705.  How Much Does It Cost to Qualify for the Credit? Employers with total payrolls greater than 1 million in the Tax Year, and their employees, can qualify for the full credit. Taxpayers who qualify may claim an additional 500 for each eligible worker who successfully is employed. No more than 10 percent of employees can receive the credit.  The credit is available when taxpayers are able to prove that a job offer or work opportunity was made to provide financial support to a qualified individual and that the individual worked for, or received wages on behalf of, the employer at least 51% of the hours they worked in California during the Tax Year.  The state credit is not available for individuals who are engaged in gainful employment (that is, they do not have to be employed, and their job is not in California or any other state) without obtaining the state work opportunity tax credit.

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