HB1616: Income tax, state; tax credit for health insurance premiums paid by small business employers.

Chief Patron

Del. Jeff Frederick (R-52)

Status

Bill is Dead

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Summary

Income tax; tax credit for health insurance premiums paid by small business employers.  Provides a tax credit for taxable years beginning on or after January 1, 2007, to employers who pay at least one-half of the annual health insurance premium per employee. The amount of the credit is the lesser of $500 or the amount paid per employee. The total amount of credits available to each employer annually is limited to $25,000. The credits are available to employers with 50 or fewer full-time employees.   View Full Text »