$2,500 Illinois Small Business Job Creation Tax Credit
EXPANDED Jobs Creation Program
Beginning July 1, 2012; Eligible wage $10/hr
- Eligible if, as of July 1, 2012, you employed 50 or fewer full-time employees (counting all locations).
- Not-for-profit and Professional Employer Organizations are eligible to receive credit.
- Newly created, full-time position (part-time / contractual positions are not eligible).
- Created between 7/1/12-6/30/16.
- Position pays no less than $10/hour or the equivalent annualized salary of $18,200.
- Position sustained for at least one year (not necessarily held by the same individual for the year).
- Withholding tax goes to Illinois.
- Tax Credit certificate will be issued one year from the hire date.
*Any-sized business that fills a newly created, full-time position with a former 2010
“Put Illinois to Work” worker trainee would eligible to receive credit.
“Business owners can go online and register for their tax credits, provide substantiating data, and print out their credit certificates, without ever having to leave their office. This law gives employers a strong incentive to continue providing good jobs for workers who need it most.”
-Governor Pat Quinn