IRS Notice 2010-44: Details on New Small Business Health Care Tax Credit
May 17, 2010 The Internal Revenue Service (IRS) added an Internal Revenue Code that offers credit for eligible small employers and tax exempt non-profit organizations. The small business tax credit is limited to organizations with 25 or fewer full-time employees (FTEs) who have an average wage of $50,000 or less; the organization must also cover at least 50% of the cost of employee health care coverage. The credit phases out gradually for organizations with average wages between $25,000 and $50,000; and for firms with the equivalent of between 10 and 25 FTEs. Dental, vision, and . . .
