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Is it true that companies get tax credits for hiring minorities?

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_Jumper_ Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-01-03 07:43 PM
Original message
Is it true that companies get tax credits for hiring minorities?
If so, can someone explain the details?
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Girlfriday Donating Member (570 posts) Send PM | Profile | Ignore Wed Oct-01-03 07:49 PM
Response to Original message
1. I haven't heard that,
but I do know under welfare to work laws, that companies who hire people trying to get off welfare recieve a subsidy....even if they only pay minimum wage!
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_Jumper_ Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-01-03 07:56 PM
Response to Reply #1
2. Thanks
The assertion that companies get tax credits for hiring minorities sounds implausible to me.
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finecraft Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-01-03 08:54 PM
Response to Original message
3. Louisiana Tax Credit program
It is a credit on any state taxes you might owe by hiring someone that is on public assistance, or lives in a census area designated as one that has a high poverty rate. It is a dollar for dollar reduction in any taxes owed, up to $2500. per person hired. The person must be hired for a new position, not just to fill an existing vacant position. It is known as the Enterprise Zone program here. It isn't a tax credit program for minorities specifically, but a majority of the people that are hired through the program are from minority groups.
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Cocoa Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-01-03 08:59 PM
Response to Reply #3
4. Chicago has enterprise zones too
incentives for locating businesses in declining city neighborhoods, to fight the flow of jobs to the suburbs. Like you said, not for minorities directly.
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_Jumper_ Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-01-03 09:09 PM
Response to Original message
5. Thanks all
A repuke told me this and I was very skeptical about it.
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