Small businesses that hire Hurricane Katrina victims may be eligible for a temporary tax credit. The work opportunity tax credit is available through the Katrina Emergency Tax Relief Act of 2005, and could save business owners up to $2,400.
The credit was created to encourage businesses to hire people who lived and worked in areas demolished by the August 29th storm.
Only businesses with fewer than 200 employees are eligible for the credit. Employers must also have operated a business in an area affected by Katrina that stopped functioning on or after August 28, 2005, and before January 1st, 2006.
Business owners interestedin more information can go to Internal Revenue Service Web site.« Return to all articles