From State Senator Don DeWitte:
Sen. DeWitte reminds small, local businesses about minimum wage tax credit
Springfield, IL… State Senator Don DeWitte (R-St. Charles) is joining the Illinois Department of Revenue to remind small businesses that as the higher minimum wage starts to take effect, a tax credit is available to them beginning this year.
On January 1, the first wave of minimum wage increases took effect, increasing the wage from $8.25 an hour to $9.25 an hour. In an effort to help offset these increased costs, small businesses are eligible for the Minimum Wage Credit, giving them a maximum credit of 25 percent of the difference between the new minimum wage and what each employee was paid previously. The percentage allowed each proceeding year will decrease before sunsetting in 2026.
“The new $15 minimum wage law will certainly have far-reaching implications on our local, small businesses,” said Sen. DeWitte.
“While many businesses will face hardships complying with the new minimum wage law, I hope they take advantage of this tax credit to provide them with some relief.”
Businesses and nonprofits with 50 full-time equivalent employees or less are eligible for the tax credit, which they can now begin to claim on their quarterly Illinois Withholding Income Tax Returns.
For more information on the Minimum Wage Credit and how to calculate this credit, visit tax.illinois.gov.
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Here are the roll calls:
DeWitte: When are you gonna do something constructive?
Miss T,
Do you mean like making sure small businesses having this initiative shoved down their throats by Dems are aware of any and all means to help offset its unfunded and mandated added business expense?
Nice try, read the roll call.
Can’t wait to retire and move out of this damn state!
Two years and counting…
Ddewitte33, Has DeWitte ever filed a decent bill? He pretends to be a Populist, but he’s a two-faced mymph.
Jack Roser used to call his kind ‘Edgar sweeties’ because they talked big, but always stabbed you in the back.
I miss Mr Rosen so much. Too bad his offspring didn’t inherit his values!
Please send a photo of your moving van when it comes.
“It won’t kill jobs but also we need to pass special tax privileges for companies so that this new law we passed won’t kill their jobs.”
How much lead is in Springfield’s water supply?
Jack Roser was a fine patriot!
I did security work for him when he ran against MSI crook Jim Edgar for Gov.
Let me tell you something.
Jim Edgar made George Ryan and Blago look like penny ante hoods.