With businesses winding down for the 2011 calender year, this tax credit calculation tool will come in handy to the many small business customers that health insurance companies have. This link is from United Health Care and goes over the small business tax credit.
Certain small businesses that offer health benefits are now eligible for health care tax credits. These vary depending on the tax-exempt status of the organization and employer contribution toward health benefits.
- Eligible employers must pay at least half the cost of single coverage for their employees.
- There must be no more than 25 full-time equivalent (FTE) employees, not counting owners or their family members.
- Average annual wages of employees must be less than $50,000 per FTE.