Employer Credits
Credits Up to $5,000 per Employee Over 3 Years for Eligible Businesses
Reduced corporate income taxes in exchange for a business training its employees, well, is just a win-win all around. In order to encourage all Rhode Island businesses to upgrade the skills of their workforce, RIEDC assists businesses with obtaining the Jobs Training Tax Credit offered through the state.
Qualified training programs are those that improve the skills necessary to improve work performance. Orientation programs, general health programs and seminars or conferences not directly related to the employee’s job description do not qualify. Training must take place within Rhode Island unless training is not available in the State or that the training is available at a lower price out of the State.
All for-profit RI business are eligible except certain professional services such as medical, legal, accounting, engineering & other similar services. Generally, an employee cannot earn more than $80,000; must work at least 30 hours per week at the time of training and for 18 months upon completion of training; and must earn at least $10.13 per hour (150% of RI minimum wage as of January 1, 2004) upon completion of training.
Credit Application Process: Approve the Training Program First
Geting started is easy. You may download the application, instructions for completing your application, or read the Rules and Regulations right here online. For additional information you may contact the Human Resources Investment Council ( HRIC ) directly. Complete the application and with a certificate of good standing from the state Division of Taxation return it to:
Human Resource Investment Council
ATT: Geri A. Guardino
1511 Pontiac Avenue, Cranston, RI 02920
(401) 462-8183
HRIC approves the training program and issues a Certificate Number, then the employer starts the training within 6 months of approval. To receive the credit, the employer files a Job Training Tax Credit form (F2949) and a copy of HRIC approval letter with the appropriate Rhode Island State Tax Return.