Smart businesses know that training employees can not only improve productivity, it can also improve the company’s bottom line. Did you know that training can help your company earn up to $5,000 per each employee, over a three-year period? Whether it’s a seminar, conference or college course that’s work-related; taking time to review tasks with someone covering for a co-worker going on vacation; or on-the-job training for a new piece of equipment, these and other "training events" can help your company earn valuable tax credits on an annual basis.

Every day you train without applying 
for the JTTC is lost money! 
It’s always the right time of year to apply for the Rhode Island Job Training Tax Credit Program (JTTC). The bottom line is that, until you apply, you won’t receive the JTTC tax advantages. Every day, your bottom line can be improving.

The JTTC is a program administered by the Human Resources Investment Council, designed to help upgrade the skills of workers throughout the state. Businesses can apply for the credit and receive up to $5,000 per employee over three years in the form of a dollar-for-dollar tax credit (not a deduction) against your tax liability, written right off the company’s bottom line. All for-profit companies are eligible except medical, legal, accounting, engineering, and professional services firms.

• Must work for 18 months after training
• Must earn less than $80,000/year ($38.46/hour)
• Must work at least 30 hours/week
• Must earn at least 150% of RI minimum wage

What is TracTax and Why use it?

The TracTax service is designed to make getting the JTTC credit easy. Simply document your training events and fax or email them to your TracTax representative. Using custom software specifically designed for the JTTC program, TracTax staff can import employee information, log and monitor training events, create the HRIC application, calculate the tax credit for you, create the tax form, project current and next year’s credits, and generate multiple management reports with accuracy and ease. 

You can also opt to license TracTax software for your company’s computers and receive full training on the software program (which qualifies as a "training event" for the JTTC purposes!) as well as technical and management support.

Whether you choose outsourcing or the software license option, TracTax works so you don’t have to. It reduces administrative headaches, audit-proofs your tax credit return, and eliminates rejections or delays in your tax credit filing.