Form Wrc - Worker Retraining Tax Credit Application Page 4
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5Instructions for Form WRC
Worker Retraining Tax Credit Application
it with VDBA. After processing Schedule 1, VDBA will send Form
GENERAL INFORMATION
WRC to the Department of Taxation.
The Worker Retraining Tax Credit may be claimed by employers
who provide qualifying retraining for their employees through
Step 2: Requests for Additional Information and Notification
noncredit classes approved by the Virginia Department of Business
of Authorized Credit
Assistance (VDBA) or through an apprenticeship agreement
Additional information: If the Departments of Business Assistance
approved by the Virginia Apprenticeship Council. Qualifying
or Taxation need additional information they will contact you by
apprenticeship programs may include credit and noncredit classes.
May 1 and you will have until May 15 to respond. If you have not
•
For qualified employees who attend Virginia community
received acknowledgment of your application from the Department
colleges, the employer can claim 30% of all training costs.
of Taxation by May 31 please call 804-786-2992.
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For taxable years prior to January 1, 2013, an employer may
The Department of Taxation will issue the credit by June 30. If you
claim the actual costs up to $100 per qualified employee for
have not received your credit certification by July 15, please call
those employees who attend private schools.
804-786-2992.
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For taxable years beginning on or after January 1, 2013, for
Extension of time for filing: If the tax return upon which this credit
those employees who attend private schools an employer
will be claimed is due on or before May 1, you may need to file an
may claim the actual costs up to $200 per qualified employee
automatic extension payment for any tax due or file an amended
or $300 per qualified employee annually if the eligible worker
return upon receipt of the credit information.
retraining includes retraining in a STEM or STEAM discipline.
Step 3: Claim Worker Retraining Tax Credit on Your Return
The total retraining credits granted to all employers is limited to
After receiving notification of authorized credit, you may claim
$2,500,000 for each year. If the total qualifying credits exceed
the credit on the applicable Virginia tax return. See the tax return
this amount, the credit will be prorated. Employers must apply
instructions for computation and attachment details.
for their share of the available credit by filing Form WRC with the
DEFINITIONS
VDBA or Department of Taxation, as applicable, to determine their
proportionate share of the credit. Notification of the authorized
Eligible Worker Retraining means the retraining of a qualified
credit amount must be received before the credit may be claimed
employee that promotes economic development. Retraining of a
on the tax return.
qualified employee will promote economic development when the
employment brings new income into Virginia, stimulates additional
The credit is allowable against the Individual Income Tax, Estate
employment, improves existing processes, products or services,
and Trust Income Tax, Corporation Income Tax, Bank Franchise
or is the basis for further economic growth. The retraining can
Tax and taxes imposed upon insurance companies and utility
be accomplished through (i) noncredit courses at any Virginia
companies (under Va. Code §§ 58.1-2501 et seq. and 58.1-2626
community college or a private school or (ii) worker retraining
et seq.). This credit is nonrefundable, but excess credit may be
programs undertaken through an apprenticeship agreement
carried forward for the next three taxable years. No credit can be
approved by the Virginia Apprenticeship Council.
carried back to a preceding taxable year.
Noncredit Courses include, but are not limited to:
PROCESS OVERVIEW FOR CLAIMING THIS CREDIT
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specific job-related skills/studies;
Claiming this credit takes the following three-step process.
Definitions used to qualify training are after Step 3.
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computer training due to process or equipment change
of entry-level computer skills (ongoing computer software
Step 1: Determine Eligibility of Courses or Apprenticeship
upgrades are not included);
Programs for Credit
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continuous improvements such as team building and quality
Noncredit Courses: Employers seeking this credit will have
training;
retrained employees through noncredit courses. To determine if the
training will qualify for this credit, complete Parts I, II, and Schedule
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management and supervisory training;
1 of Form WRC and send it to Virginia Department of Business
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safety and environmental training programs; and
Assistance, P. O. Box 446, Richmond, VA 23218-0446. For
questions, call the VDBA at 804-371-8200. VDBA will determine
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credit or noncredit approved apprenticeship courses.
if the course qualifies as eligible retraining. VDBA will forward this
Qualified Employee means an employee who works in a full-time
determination to Department of Taxation for Step 2.
position requiring a minimum of 1,680 hours in the normal year of
Apprenticeship Programs: Employers seeking this credit will
the employer’s operation and standard fringe benefits are offered
have retrained employees in a Virginia Apprenticeship Council
to the employee. Employees eligible to take credit or noncredit
approved program under the Voluntary Apprenticeship Act. For
courses undertaken through a registered apprenticeship agreement
program information, call Department of Labor and Industry at
must be employed in a full-time position requiring a minimum of
1,924 hours in the normal year of the employer’s operation unless
804-786-8009.
otherwise approved by the Virginia Apprenticeship Council. A
File Form WRC, completing Parts I, III and Schedule 2 (see
qualified employee shall not be a spouse, child, grandchild,
Exception below), with the Department of Taxation, Tax Credit
parent or sibling of an employer, or in the case of a corporation,
Unit, P. O. Box 715, Richmond, VA 23218-0715, to determine
an individual that owns, directly or indirectly, 5% or more of the
program applicability and authorized credit.
corporation’s stock. Employees in seasonal or temporary positions
EXCEPTION: If applying for retraining credits for noncredit courses
are not qualified for this program.
and an apprenticeship program, complete all of Form WRC and file
Page 4
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