Knowledge Center

Monday, March 09, 2015

America's Unemployed Youth: How Tax Credits and Incentives May Alter the Dilemma Facing a Jobless Generation

IPT Insider, March 2015

By Jennifer A. Zimmerman, Horwood Marcus & Berk Chartered


Employer tax incentives were a big part of the 2014 tax landscape. From the $8.7 billion Boeing Co. deal to Nevada's winning bid to lure Tesla, states used megadeals to attract jobs to their respective jurisdictions. Recently, states have undertaken the task to incentivize, through tax credits or grants, the hiring of paid interns in hopes of rebuilding youth employment rates.

Therefore, states are perhaps better prepared for the task at hand Indeed, a handful of states have designed programs that use tax credits or grants to provide incentives for businesses to hire high school and college students for paid internships or apprenticeships. At least eight states currently have such incentive programs: Iowa, Minnesota, Missouri, Nebraska, New York, North Dakota, Ohio and Rhode Island. A majority of those states - Minnesota. Missouri, New York, North Dakota and Rhode Island - use tax credits. Alternatively, Iowa, Nebraska, and Ohio make direct grants to businesses that hire qualifying interns...

Download and read the full article beginning on page 5.

JENNIFER A. ZIMMERMAN concentrates her practice in state and local tax planning and the resolution of state and local tax controversies for multi-state and multi-national corporations. She advises Fortune 500 companies as well as mid-sized and closely-held businesses on issues related to all types of state and local tax, including income tax, sales/use tax, franchise tax, public utility and fuel taxes, unclaimed property, and credits and incentives.

The Institute for Professionals in Taxation, founded in 1976, is a 501(c)(3) non-profit educational association serving over 4400 members representing approximately 1450 corporations, firms, or taxpayers throughout the United States and Canada. It is the only professional organization that educates, certifies and establishes strict codes of conduct for state and local income, property and sales & use tax professionals who represent taxpayers (government officials or organizations do not qualify for membership). The Institute also provides excellent educational programs in Value Added Tax (VAT) and Credits & Incentives.

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