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Proposal for Sandy WOTC

Senators Schumer and Menendez have proposed a WOTC program tax relief package for Hurricane Sandy modeled after the Hurricane Katrina WOTC program.

The provision would include:

• A Worker Retention credit for employers of businesses that were rendered inoperable and who continue to pay their employees in the disaster area for wages paid prior to March 1, 2013. There would be a restriction on the size of the business of no more than 200 employees. The Credit would be 40% of the first $ 6,000 in wages.

• A WOTC Credit for new hires in the disaster area provided the person hired resided in the disaster area on October 27, 2012 and either were hired during the 2-yesr period after Sandy or if displaced by Sandy was hired anywhere between October 27, 2012 and January 1, 2013. The Credit would be 40% of the first $ 6,000 of wages.

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