Workforce training costs

From the 2024 DOR Tax Exemption Study

Home Forms & Publications Publications By Subject Special Notices B&O Tax Credit For Washington Customized Training Program Extended Print B&O Tax Credit for Washington Customized Training Program Extended Issue Date June 03, 2021 Intended audience: Existing small businesses in Washington wishing to recruit, retain, and expand employees. The Washington Customized Training Program (CTP) and the associated business and occupation (B&O) tax credit have been extended ( RCW 82.04.449 , Substitute Senate Bill 1033 ). The program, administered by the State Board for Community and Technical Colleges (SBCTC), is a revolving loan fund that provides assistance for training costs to businesses locating or expanding in Washington. Participants in the CTP can earn B&O tax credit for 50% of the amount paid to the program. All credits must be applied to returns filed with the Department of Revenue by June 30, 2026. How the program works Businesses interested in taking advantage of this revolving loan program and earning the B&O tax credit must take the following steps: Partner with an eligible training institution. Eligible training institutions include: A Washington community or technical college