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New Employment Credit

Category: State

Employers can earn credit up to $56,000 for each full time employee they hire earning between $13 and $31.50 per hour beginning January 1, 2014, and before January 1, 2021.

Employers who plan to use this tax credit must request a tentative credit reservation from the Franchise Tax Board within 30 days after completing the Employment Development Department (EDD) new hire reporting requirements. The application is online, and you will receive immediate confirmation upon submitting it.

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