[OSSSA218] Fwd: RE: Small Business Health Care Tax Credit

Mon Apr 5 14:12:23 PDT 2010

FYI

Karen Park

Oregon State Social Security Coordinator
Oregon PERS
503 603-7633
karen.park at state.or.us

SL2

Please note my office hours are Monday thru Thursday 6 am to 4:30 pm

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>>> "Marshall KayDel D" <KayDel.Marshall at irs.gov> 4/5/2010 9:32 AM >>>

Here is the entire healthcare timeline beyond this year

KayDel Marshall 
Senior Stakeholder Liaison
Small Business & Self-Employed C/L/D
1220 S.W. 3rd Avenue, Mail Stop O-185 
Portland, Oregon 97204 
503-326-5240 Phone 
503-326-5957 Fax 
E-Mail: KayDel.Marshall at irs.gov 
ID #1000843166

From: Karen PARK [mailto:karen.park at state.or.us] 
Sent: Monday, April 05, 2010 8:08 AM
To: Marshall KayDel D
Subject: Re: Small Business Health Care Tax Credit

Good morning KayDel,

Do you know how much of this, if any, pertains to state and local governments?

Thanks

Karen Park

Oregon State Social Security Coordinator
Oregon PERS
503 603-7633
karen.park at state.or.us

SL2

Please note my office hours are Monday thru Thursday 6 am to 4:30 pm

CONFIDENTIALITY NOTE: All information in this email, including attachments, is approved solely for delivery to and authorized use by intended recipients. Use, dissemination, distribution, or reproduction of this message and/or any of its attachments by unintended recipients is not authorized and may be unlawful. If  you are not an intended recipient of this message or an authorized assistant to an intended recipient, please notify the sender by replying to this message and then delete it from your system. 

>>> "Marshall KayDel D" <KayDel.Marshall at irs.gov> 4/2/2010 3:56 PM >>>

Small Business Health Care Tax Credit

 Health coverage legislation enacted this year includes a Small Business Health Care Tax Credit to help small businesses and small tax-exempt organizations afford the cost of covering their workers.                                                                                                

Eligibility Rules
Providing health care coverage. A qualifying employer must cover at least 50 percent of the cost of health care coverage for some of its workers based on the single rate.
Firm size. A qualifying employer must have less than the equivalent of 25 full-time workers (for example, an employer with fewer than 50 half-time workers may be eligible).
Average annual wage. A qualifying employer must pay average annual wages below $50,000.
Both taxable (for profit) and tax-exempt firms qualify.
Amount of Credit
Maximum Amount. The credit is worth up to 35 percent of a small business' premium costs in 2010. On Jan. 1, 2014, this rate increases to 50 percent (35 percent for tax-exempt employers).
Phase-out. The credit phases out gradually for firms with average wages between $25,000 and $50,000 and for firms with the equivalent of between 10 and 25 full-time workers. 
Three Simple Steps for Employers to Qualify
To determine if your small business or tax exempt organization qualifies for the Small Business Health Care Tax Credit, follow the three simple steps on our fact sheet.
Examples
Scenarios illustrate how the credit applies to employers in different circumstances.
Questions and Answers
Need more detailed information? We have answers.

For More Information
News release IR-2010-38, New for 2010: Tax Credit Helps Small Employers Provide Health Insurance Coverage, gives a description of the credit and when and how to claim it.   

Page Last Reviewed or Updated: April 01, 2010

KayDel Marshall 
Senior Stakeholder Liaison
Small Business & Self-Employed C/L/D
1220 S.W. 3rd Avenue, Mail Stop O-185 
Portland, Oregon 97204 
503-326-5240 Phone 
503-326-5957 Fax 
E-Mail: KayDel.Marshall at irs.gov 
ID #1000843166
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