Small Businesses Could Get Health Insurance Tax Credits
As part of the new health insurance law, 500,000 California small businesses could be eligible for new federal tax credits for providing employees health insurance. According to notices mailed this week by the Internal Revenue Service, small businesses that employ fewer than 25 full-time workers; provide average wages of $50,000 or less; and pay at least 50% of employees' premiums are eligible for the credit, which covers up to 35% of premiums in 2010.
- "Rollout Starts for Health Care Tax Credits for Small Business" (Buck, Sacramento Bee, 4/20).