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RI Tax Credit Information | |
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RI Tax Credit Information | |
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today to start getting tax credits on your training! |
The State of Rhode Island allows any for-profit business with a state business tax liability to reduce that tax by a credit for training costs up to $5,000 per employee trained, including both the wages of the trainee and the cost of providing the training ... subject to a complex array of rules, limitations, and reporting requirements. Once an authorization to take the credit has been secured, there is no upper limit on the amount of the credit. Many of our clients obtain substantial six-figure credits. Unfortunately, the state has not informed the business community well about this opportunity. As a public service, we conduct seminars and provide a full picture of the diverse aspects and complicated data collection and analysis requirements. TracTax, a proprietary program and outsourcing service, has been designed to handle all aspects of applying, securing , reporting, calculating and filing the credit. The credit accrues from the day you file a request for it and is not retroactive. Each day that passes without it carries a lost opportunity and a higher tax burden into the future. It is never too late, however, to begin! All types of training that improves skills for work performance qualifies, including:
What’s NOT included are:
The bottom line is... It’s never too late to get approval now for the RI JTTC.
Click to view sample Return-On-Investment
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Copyright © 2000-2007 The ProfitPoint Group, Inc. All rights reserved. TracTax is a registered trademark of The ProfitPoint Group, Inc. |
