Management Buzz 05/03
Taking advantage of child-care credits; show your gratitude and keep your employees
Not many companies cash in on the state income tax child-care credits offered by 25 states, partly because many corporations don't have to pay state income taxes. But it's also likely that companies just don't know about the credits, says Christina Smith Fitzpatrick, senior policy analyst with the National Women's Law Center (NWLC) in Washington, DC.
Specifics vary by state but typically credit is given for the cost of offering even low-cost benefits like child-care referral services and help with last-minute child-care in case of emergency, travel or sickness. Most states save the most generous credits for companies that build and run their own on-site child-care centers.
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