7am News, Sports and Obits

Latest WGIL news
Click to play or
Right click and "Save Target As" to download
Click for Galesburg, Illinois Forecast
Home - Cancellations - Community Events - Contact Us - Mornings - News - Obituaries - Pictures - Programs - Special Events Audio - Sports - Weather
Quinn Signs Tax Credit Into Law
A new law gives tax credits to small businesses that hire new full-time employees.

The new law is for a $2,500 credit on the state withholding tax.

It's for businesses with 50 or fewer employees that hire full-time employees starting July 1st. To qualify, the new job has to last at least a year and pay at least $25,000.

Small business owners who joined Gov. Pat Quinn at a bill-signing ceremony say it will help them expand their companies and hire more workers.

Employers must apply for the tax credit as soon as a new employee is hired. The total amount of tax credits in the state is capped at $50 million.

(Illinois Radio Network)
04 14 10 by Newsroom
News management powered by Xpression News

Click here for the WGIL News Archive

Click here for national news

The following provision applies to all visitors (which shall include persons and representatives of legal entities, whether such representatives are persons or digital engines of a kind that crawls, indexes, scrapes, copies, stores or transmits digital content). By accessing this Web site or digital service, you specifically acknowledge and agree that: (i) Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium; (ii) No Associated Press materials nor any portion thereof may be stored in a computer except for personal and non-commercial use; (iii) The Associated Press will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing; (iv) The Associated Press is an intended third party beneficiary of these terms and conditions and it may exercise all rights and remedies available to it; and (v) The Associated Press reserves the right to audit possible unauthorized commercial use of AP materials or any portion thereof at any time.