New Tax Incentives for Hiring and Retaining Employees

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New Tax Incentives for Hiring and Retaining Employees
Warner Norcross & Judd LLP

[Guidance Overview]
Apr. 15, 2010

Excerpt: Employers that hire new employees will be exempt from their share of the Old Age, Survivors and Disability Insurance (OASDI) tax, which is a 6.2% tax on wages up to $106,800 for 2010. The exemption will apply from March 19, 2010 to the end of 2010. Employers that may take advantage of the OASDI exemption include taxable businesses, tax-exempt organizations and public colleges and universities.

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