04/14/2010
Small business health care tax credit
Earlier this month, we told you about the passage of the Patient Protection and Affordable Care Act (PPACA). More information has been made available about a provision in that Act that gives a tax credit to certain small employers who provide health care coverage to their employees.
Key Facts
- The tax credit, effective Jan. 1, 2010, can cover up to 35% of the premiums a small business pays to cover its workers. In 2014, the rate will increase to 50%.
- Both small for-profit and small not-for-profit organizations are eligible.
The FAQ from the IRS provides detailed information on the credit as it applies for 2010 - 2013, including information on transition relief for 2010.
Learn more about the tax credit and PPACA
To learn more about the tax credit, visit the IRS Web site. More information is available on the Kaiser Family Foundation site.
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