Small Business Tax Credits
Small Business Tax Credits help small businesses pay for health insurance for their workers.
To qualify small businesses must:
- Have less than 25 full-time equivalent employees (FTEE)
- Pay for at least half of the cost of health insurance for some of their workers
- Pay average yearly wages of less than $50,000
Until 2014, qualifying for-profit businesses get a tax credit of up to 35% of the premiums they paid for their workers. Non-profit businesses get up to 25%.
- Qualifying for-profit businesses get a credit of up to 50% of the premiums they paid
- Qualifying non-profit businesses can get a credit of up to 35% of the premiums they paid
Visit the IRS's website to learn more.