tax credit workshop 002

CHAMPAIGN – State Senator Scott Bennett (D-Champaign) is partnering with the Illinois Department of Revenue (IDOR) and the Champaign County Chamber of Commerce to host a free workshop about the Minimum Wage Tax Credit on Tuesday, Feb. 11 at 2 p.m. at the Champaign County Chamber of Commerce (303 W. Kirby Ave., Champaign).

On Jan. 1, the first phase of minimum wage increases took effect, raising the wage from $8.25 an hour to $9.25 an hour. Under the new law, small businesses are eligible for a tax credit, giving them a maximum credit of 25% of the difference between the new minimum wage and what each employee was paid previously.

“We need to keep small businesses competitive during this transition period,” Bennett said. “This informative workshop will help connect small business owners with updated information on the Minimum Wage Tax Credit to help offset the state’s minimum wage rate and ease their transition.”

Businesses and nonprofits with 50 full-time equivalent employees or less are eligible for the credit and can begin to claim on their quarterly Illinois Withholding Income Tax Returns.

Nick Austin of the IDOR will present at the workshop and provide assistance. Bennett urges small businesses to take advantage of this tax credit and participate in the February workshop.

For more information or to RSVP, please contact Senator Bennett’s office at 217-355-5252 or SenatorBennett.com, or visit IDOR’s website tax.illinois.gov.

 
Newsletter Sign-up
  1. First Name(*)
    Invalid Input
  2. Last Name(*)
    Invalid Input
  3. Your Email(*)
    Please let us know your email address.

Office Info

Champaign Office:
45 E. University Suite 206
Champaign, IL 61820
P: (217) 355-5252

Danville Office:
201 N. Vermilion St. Suite 323
Danville, IL 61832
P: (217) 442-5252

Springfield Office:
311C State House
Springfield, IL 62706
P: (217) 782-2507