Credit for Small Employer Health Insurance Premiums
GPTKB entity
Statements (20)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:tax_law
|
| gptkbp:administeredBy |
gptkb:Internal_Revenue_Service
|
| gptkbp:appliesTo |
small employers
|
| gptkbp:claimableFor |
two consecutive tax years maximum
|
| gptkbp:compatibleWith |
self-employed individuals
large employers |
| gptkbp:eligibility |
average annual wages less than $56,000 (2023)
fewer than 25 full-time equivalent employees employer pays at least 50% of employee health insurance premiums |
| gptkbp:establishedBy |
gptkb:Affordable_Care_Act
|
| https://www.w3.org/2000/01/rdf-schema#label |
Credit for Small Employer Health Insurance Premiums
|
| gptkbp:introducedIn |
2010
|
| gptkbp:maximumLoanAmount |
35% of premiums for tax-exempt employers
50% of premiums for small businesses |
| gptkbp:publicLawNumber |
IRS Form 8941
|
| gptkbp:purpose |
to help small businesses afford health insurance for employees
|
| gptkbp:reduces |
employer's income tax liability
|
| gptkbp:requires |
coverage purchased through Small Business Health Options Program (SHOP) Marketplace
|
| gptkbp:bfsParent |
gptkb:United_States_federal_income_tax
|
| gptkbp:bfsLayer |
7
|