Hyden, Miron & Foster, PLLC Law Blog

Tuesday, November 25, 2014

Small Business Health Care Tax Credit

By: Carrie E. Bumgardner 

Small business employers providing health insurance coverage to their employees need to check out the small business health care tax credit and then claim it if they qualify. Small business employers are defined as having fewer than 25 full-time equivalent employees and pay an average wage of less than $50,000 per year.

The small business health care tax credit was included in the Affordable Care Act (“ACA”) enacted in 2010. Under the ACA, eligible small employers can claim the credit for 2010 through 2013 and for two additional years beginning in 2014. For 2010 through 2013, the maximum credit is 35% of premiums paid by eligible small businesses and 25% of premiums paid by eligible tax-exempt organizations. In 2014, the maximum credit rate rises to 50% for small businesses and 35% for tax exempt organizations.

Small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for this credit. The credit is specifically targeted to help small businesses and tax exempt organizations provide health insurance for their employees.

More information is available on the Small Business Health Care Tax Credit


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