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High Wage Growth Tax Credit

Invest in your employees.

 

Invest in West Virginia.

 

Benefit from the High-Wage Growth Tax Credit.

 

The High Wage Growth Act is designed to help employers attract talent and the skills you need in your workforce. This tax credit provides a payroll incentive to your business for creating new high-wage jobs in West Virginia. If your business is poised for growth, and you create 10 or more, new high-paying jobs — you may benefit. When your business thrives, West Virginia thrives. High-wage jobs, with benefits are the foundation West Virginia needs as its economy diversifies, expands, and helps our communities and your business grow.

 

 

Employers eligible for the High Wage Growth Tax Credit will meet the following criteria:

  • The High-Wage Growth Tax Credit is a tax incentive based on new jobs created. To review the code, click here: https://code.wvlegislature.gov/11-13II/
  • Employer must create 10 or more jobs to be eligible.
  • Employers must offer health benefits to all full-time employees and certify they pay at least 50 percent into premiums.
  • Salaries must be 2.25 times the state median salary.
  • Employers are eligible for up to a 10 percent credit on their payroll taxes.
  • Jobs created before July 1, 2020, are not eligible.
  • Eligible jobs must be occupied for at least 48 weeks of the qualifying period.
  • The new high-wage jobs must be occupied by West Virginia residents.
  • Employers may reapply for credits for up to three qualifying periods successively.

 

Contact us today to learn more about this exciting opportunity for your business to realize the benefits of creating jobs that help West Virginia and your business grow.

Contact:
Kelsey Staggers
WV West Virginia Department of Economic Development
13043524139
Kelsey.E.Staggers@wv.gov

 

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