The Small Business and Work Opportunity Tax Act of 20071, in addition to other changes in the Work Opportunity Tax Credit,2 the 2007 tax act extended the credit to newly-hired employees residing in a “rural renewal county.”3 The credit amount is up to a maximum of 40 percent of the first $6,000 of “qualified first-year wages” paid to an eligible employee who is a “designated community resident” and who works for at least 400 hours during the first year of employment.4 Thus, the credit could be as much as $2400 for each eligible employee.5
Harl, Neil E.
"Work Opportunity Tax Credit Extended to Employees Residing in "Rural Renewal Counties","
Agricultural Law Digest: Vol. 18
, Article 1.
Available at: https://lib.dr.iastate.edu/aglawdigest/vol18/iss24/1