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3 premium for the small group market in the employer's State) and otherwise meets the requirements for the credit. The credit is calculated as follows: (1) Initial amount of credit determined before any reduction: (35% x \$96,000) = \$33,600 (2) Credit reduction for FTEs in excess of 10: (\$33,600 x 2/15) = \$4,480 (3) Credit reduction for average annual wages in excess of \$25,000: (\$33,600 x \$5,000/\$25,000) = \$6,720 (4) Total credit reduction: (\$4,480 + \$6,720) = \$11,200 (5) Total 2010 tax credit: (\$33,600 \$11,200) = \$22, Can premiums paid by the employer in 2010, but before the new health reform legislation was enacted, be counted in calculating the credit? A. Yes. In computing the credit for a tax year beginning in 2010, employers may count all premiums described in Q/A-3 for that tax year. Determining FTEs and Average Annual Wages 9. How is the number of FTEs determined for purposes of the credit? A. The number of an employer s FTEs is determined by dividing (1) 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) 2,080. The result, if not a whole number, is then rounded to the next lowest whole number. See Q/A-12 through 14 for information on which employees are not counted for purposes of determining FTEs. 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) 10. How is the amount of average annual wages determined? A. The amount of average annual wages is determined by first dividing (1) the total wages paid by the employer to employees during the employer s tax year by (2) 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). See Q/A-12 through 14 for information on which employees are not counted as employees for purposes of determining the amount of average annual wages. 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: \$22,000 (\$224,000 divided by 10 = \$22,400, rounded down to the nearest \$1,000) 11. Can an employer with 25 or more employees qualify for the credit if some of its employees are part-

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