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Beginning in 2010, the Patient Protection and Affordable Care Act (PPACA) provides certain small businesses with a temporary tax credit to offset a portion of health insurance costs.
Learn the essential facts about this tax credit in this NFIB Research Cribsheet.
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The table above describes the small business health insurance tax credit. This business begins by compiling data to construct the six numbers marked below with asterisks. The remaining numbers are calculated from those six.
In the table above, a combination of 15 employees and $29,345 in average wages yields an applicable credit percentage of 17.73%. The table below shows the applicable percentages for different combinations of employee count and average wage. In the chart below, you can see the 17.73% from above, rounded to 18%.
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