Are there any special tax credits available for businesses that employ disabled workers?

Yes, businesses in New Mexico can benefit from tax credits for employing disabled workers. The Disabled Worker Tax Credit (DWTC) program is available to eligible employers who hire workers with physical or mental disabilities. The program encourages businesses to hire disabled workers by offering tax credits based on the wages those workers earn. Tax credits will be provided according to the schedule set forth in the regulations of the program. The businesses must meet certain requirements in order to qualify for the DWTC. The applicant must provide documentation of the disability of the worker, proof of the wages paid to the worker, and verification that the worker is employed in New Mexico. The business must also demonstrate that the wages and benefits paid to their disabled worker are comparable to those paid to other employees with similar skills and qualifications. The amount of the tax credit received by the employer is based on the wages paid to the disabled worker. The amount is increased as the wages paid to the disabled worker increase. The total credit received by the employer for providing employment to a disabled worker may not exceed $4,000 each year. The Disabled Worker Tax Credit program is one of the options available to businesses which strive to offer employment opportunities to disabled workers. With this program, employers can benefit from tax credits while providing meaningful employment to those with disabilities.

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Are there any special tax credits available for businesses that employ disabled workers?

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