# IRS explains business credit available to small businesses and taxexempt organizations under the Health Care Act

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2 on the number of FTEs, not the number of employees, many businesses will qualify even if they employ more than 25 individual workers. The maximum credit goes to smaller employers those with 10 or fewer FTEs paying annual average wages of \$25,000 or less. Example. For the 2010 tax year, a qualified employer has 9 FTEs with average annual wages of \$23,000 per FTE. The employer pays \$72,000 in health care premiums for those employees (which does not exceed the average premium for the small group market in the employer's State) and otherwise meets the requirements for the credit. The credit for 2010 equals \$25,200 (35% x \$72,000). Computing FTEs The number of an employer s FTEs is determined by dividing the total hours for which the employer pays wages to employees during the year (but not more than 2,080 hours for any employee) by 2,080 hours. The result, if not a whole number, is then rounded to the next lowest whole number. Example. For the 2010 tax year, an employer pays 5 employees wages for 2,080 hours each, 3 employees wages for 1,040 hours each, and 1 employee wages for 2,300 hours. The employer s FTEs would be calculated as follows: (1) Total hours not exceeding 2,080 per employee is the sum of: a. 10,400 hours for the 5 employees paid for 2,080 hours each (5 x 2,080) b. 3,120 hours for the 3 employees paid for 1,040 hours each (3 x 1,040) c. 2,080 hours for the 1 employee paid for 2,300 hours (lesser of 2,300 and 2,080) These add up to 15,600 hours (2) FTEs: 7 (15,600 divided by 2,080 = 7.5, rounded to the next lowest whole number) Computing annual wages The amount of average annual wages is determined by first dividing the total wages paid by the employer to employees during the employer s tax year by the number of the employer s FTEs for the year. The result is then rounded down to the nearest \$1,000 (if not otherwise a multiple of \$1,000). For this purpose, wages means wages as defined for FICA purposes (without regard to the wage base limitation). Example. For the 2010 tax year, an employer pays \$224,000 in wages and has 10 FTEs. The employer s average annual wages would be:

Small Business Health Care Tax Credit: Frequently Asked Questions The new health reform law gives a tax credit to certain small employers that provide health care coverage to their employees, effective

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