New & Emerging Industries Apprenticeship Tax Credit
Program Summary
The New & Emerging Industries Apprenticeship Tax Credit was created by HB24-1439 Financial Incentives Expand Apprenticeship Programs to encourage the adoption and expansion of Registered Apprenticeship Programs in the New & Emerging Industries.
Rulemaking for this Apprenticeship Tax Credit will occur in fall of 2024. Learn more about the rulemaking process by visiting the Legislation & Policy webpage.
Details on how to apply for the New & Emerging Industries Apprenticeship Tax Credit are not yet available.
Overview
Type: Tax Credit
For: Employers participating in Registered Apprenticeship Programs in Colorado
Amount: Max $12,600 per apprentice per income tax year. Qualifying taxpayers can claim up to ten apprentices per year for a maximum tax credit of $126,000.
Application: To be released in January 2025
Organizations that are eligible for the tax credits must meet all of the following criteria:
- Be a qualified taxpayer doing business in Colorado
- Employ one or more apprentices in a Registered Apprenticeship Program (RAP) for at least six months in a tax year
- Employ apprentices in a “New and Emerging” occupation based on the Program’s occupational classification
- Be listed on the Colorado Registered Apprenticeship Programs Directory
- For single-employer programs: the RAP must be listed on the Directory
- For multi-employer programs: the employer must be listed under the “Employer Tab” of the RAP
If you are an Employer Partner of a multi-employer RAP, please work with your RAP Sponsor to complete these three steps:
- Verify you have a signed Employer Agreement with your Sponsor
- Verify your Sponsor has entered your company as an Employer in RAPIDS and uploaded a copy of your Employer Agreement
- Ensure all of your active apprentices are registered in RAPIDS
If you are a RAP Sponsor who also employs apprentices, please complete the following step:
- Ensure all of your apprentices are enrolled in RAPIDS
- Ensure your program is listed on the Colorado Registered Apprenticeship Programs Directory. If you cannot find your program, please complete an Apprenticeship Directory Update Form.
For technical assistance related to RAPIDS, please reach out to apprenticeship@state.co.us
Question and Answer Webinar
Join Apprenticeship Colorado for a Questions and Answers webinar on the New & Emerging Industries Apprenticeship Tax Credit on Tuesday, December 3rd from 3:00- 4:00 PM MST. This webinar is intended for employers and Sponsors of Registered Apprenticeship Programs with occupations in the new & emerging industries to learn more about how to apply for the Tax Credit in the upcoming tax year.
Register for the Tax Credit Q&A Webinar
Accommodations
Apprenticeship Colorado values ensuring accessibility for all those who participate in our activities and events. If you need accommodations, please email apprenticeship@state.co.us with your request at least 5 business days before the event date.
Other Tax Credits and Incentives
The state of Colorado offers other tax credits and incentives related to apprenticeship. Note that Apprenticeship Colorado does not administer these tax credits or incentives which can be viewed on our Funding Opportunities Page.
Start a Registered Apprenticeship Program
Organizations interested in developing a Registered Apprenticeship Program (RAP) or connecting to an existing RAP email apprenticeship@state.co.us to be connected with a Program Development Specialist. Please indicate in your email your interest in utilizing tax credits.