Contact UsWhat are the requirements for a Federal Health Care Tax Credit for a small business in California?
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William Keats
Since you ask about the Federal Small Business Health Care Tax Credit, it applies to small businesses in all 50 states. The credit is designed to stimulate small employers to offer health insurance coverage or maintain the program they already have.
For tax years 2010 to 2013, the maximum credit is 35% of premiums paid by eligible small employers. (For tax-exempt organizations the rate is 25%. Starting in 2014, the maximum credit increases to 50% (35% for tax-exempts). Use Tax Form 8941.
Employer must have employed fewer than 25 full-time equivalent (FTE) employees for the tax year, paid wages of $50000 or less per FTE, and paid health ins. premiums under a qualifying plan
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569 weeks ago
For tax years 2010 to 2013, the maximum credit is 35% of premiums paid by eligible small employers. (For tax-exempt organizations the rate is 25%. Starting in 2014, the maximum credit increases to 50% (35% for tax-exempts). Use Tax Form 8941.
Employer must have employed fewer than 25 full-time equivalent (FTE) employees for the tax year, paid wages of $50000 or less per FTE, and paid health ins. premiums under a qualifying plan