What is the Small Business Tax Credit?
Small employers that provide health care coverage to their employees are eligible for a federal income tax credit of up to 35%.
(Patient Protection and Affordable Care Act
IRS Notice 2010-44
White House.gov )
Still time to apply for 2010 Credit
CA Department of Insurance 10/17/2011 Bulletin
3 Steps to be a qualified employer:
- The employer must have fewer than 25 full-time equivalent employees (“FTEs”) for the tax year,
- The average annual wages of its employees for the year must be less than $50,000 per FTE, and
- The employer must pay the premiums under a “qualifying arrangement”
(IRS)
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