What are Small Business Health Care Tax Credits?

Q: What are Small Business Health Care Tax Credits?

Small Business Health Care Tax Credits provide a tax credit of up to 50% of small-business health insurance premium costs, for up to two years. Employers are eligible if they have fewer than 25 full-time workers and average annual wages less than $62,000 (in 2023; this is indexed for inflation[efn_note]" Small Business Health Care Tax Credit and the SHOP Marketplace " Internal Revenue Service. Accessed Oct. 22, 2024[/efn_note]). But the credit is only available in areas where there are still SHOP-certified small group health plans available . Read more about the credit.

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Accepted Answer

Small Business Health Care Tax Credits provide a tax credit of up to 50% of small-business health insurance premium costs, for up to two years. Employers are eligible if they have fewer than 25 full-time workers and average annual wages less than $62,000 (in 2023; this is indexed for inflation[efn_note]"Small Business Health Care Tax Credit and the SHOP Marketplace" Internal Revenue Service. Accessed Oct. 22, 2024[/efn_note]). But the credit is only available in areas where there are still SHOP-certified small group health plans available. Read more about the credit.

Small Business Health Care Tax Credit

What are Small Business Health Care Tax Credits?

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