What is the penalty tax for a small business with ten employees who cannot afford to pay for Obamacare? Are there any exemptions I should be aware of?
TaxConnections Members... Answer This Question
Want To be One of Our Tax Experts? Register Here
Tax Professional Answers
William Keats
The exchanges should be established early 2014. Effective for months beginning after December 31, 2013, employers with at least 50 full-time employees must offer health insurance coverage to its F/T employees or pay a penalty. The penalty for 2014 is $95.00 per employee.
In your case, you are exempt from this requirement.
Leave a Comment
568 weeks ago
In your case, you are exempt from this requirement.