New York Small Businesses Now Eligible for Health Care Tax Credits

Press Release

According to a new report issued by the consumer health organization Families USA and small business advocacy group Small Business Majority, more than 81.6 percent of New York businesses with fewer than 25 employees will be eligible this year for tax credits to help pay the cost of employee health care coverage.

This tax credit program, which was created under the Patient Protection and Affordable Care Act, targets small employers with up to 25 workers. In New York, 285,000 small businesses qualify for this program. According to the report, "A Helping Hand for Small Businesses: Health Insurance Tax Credits" an additional 78,300 small businesses in New York will qualify for the maximum tax credit of 35 percent.

"Throughout the past few years, the skyrocketing cost of healthcare has caused undue hardships on families and businesses nationwide," said Rep. McCarthy. "Employers would like to offer their employees health care coverage; however these high costs have made that nearly impossible, especially for small businesses. This tax credit program provides much needed assistance to our local small businesses to ensure that their employees can protect their families."

To read the full report about the provisions and aid to small businesses visit "A Helping Hand for Small Businesses".

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