The Small Business Health Care Tax Credit is designed to help small businesses who have no more than 25 fulltime employees, not counting owners or their family members, and the average annual wages of employees must be less than $50,000 per fulltime employee. This health care tax credit also mandates that the owner of the small business must pay a least 50% of the single coverage for their employee’s to qualify for this credit. This credit is targeted at small business with the express intent to encourage organizations to offer health insurance coverage for their employees. We recommend that you discuss this credit with your tax consultant to determine your eligibility and potential credit amount should your company qualify.
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