For Grant Recipients

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If you are a recent HRIC or other RI state Grant Recipient ... Congratulations! You are obviously a quality conscious company which dedicates itself to employee training and deserves to be rewarded.

Most companies don't realize that you can combine grant awards with the RI Job Training Tax Credit (RIJTTC) program. The truth is: you can. Or, simply use the RIJTTC alone to obtain a larger benefit.  Here are 2 examples of how it can work:

Example #1:

Save 50% of all your costs of job training after the grant benefit

If you received a $30,000 Workforce Training Grant, your total training costs would be $60,000. Your net costs after the grant are $30,000. In addition to the grant, you can apply for the RI Job Training Tax Credit and receive $15,000 in tax credits (half of your training costs - no double dipping). TracTax will manage and administer the entire process.

Example #2:

Receive A Tax Credit up to $5,000 per Employee!
( The tax credit you may receive could far exceed your grant.)

Let's say your company has 25 employees to be trained as part of an aggressive and costly new initiative. By using the RIJTTC instead of a grant, you could receive a tax credit of $125,000, (25 employees x $5,000 each) far outpacing the amount of a grant award.

This incentive alone is the reason companies such as CVS, Jan Companies and United Builders Supply, just to name a few, receive the benefits of the Rhode Island Job Training Tax Credit and TracTax.

TracTax is the only  system and service designed to handle all aspects of your RI Job Training Tax Credit. It is the only system of its kind in Rhode Island, and the fastest and easiest way to apply and file for this generous tax credit. Let TracTax take over and save you the headaches while generating thousands of dollars in unclaimed tax credits for your company. All you need to do is have the desire to save your company valuable time and money.

Our TracTax staff will perform the entire process:

  • From application to final tax return, and;
  • Guarantee your tax credit with 100% accuracy
  • Recover training dollars spent
  • Streamline your valuable time
  • Eliminate administrative headlines

Most companies don't take advantage of this tax credit because of the complexity of paperwork and additional workload involved.  Smart businesses invest in themselves by investing in their people.

The smartest maximize their employee training dollars. Let us meet with you to discuss this opportunity and your continued success.  or call us at 401-658-0772
 

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