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Post by bot on Apr 24, 2014 0:12:53 GMT -5
SHOP Tax Credit Estimator www.healthcare.gov/small-business-tax-credit-calculator/Here are some key things you should know about the tax credit and applying for SHOP: •Employers with fewer than 25 full-time equivalent employees may be eligible for the Small Business Health Care Tax Credit, worth up to 50% of employer premiums contributions, if their employees make an average of $50,000 a year or less. •The tax credit will be available to eligible employers for two consecutive taxable years. •The tax credit may be available to eligible tax-exempt employers who could receive up to 35% of employer premium contributions, and can access the credit as a refund. •Generally, the Small Business Health Care Tax Credit is available for eligible employers purchasing SHOP health plans. •To enroll in a SHOP plan in most states, you’ll use an agent, broker, or insurance company. You’ll also need to complete a SHOP eligibility application. •Visit IRS.gov for the most up to date information and guidance on claiming this tax credit. •Even if you’re a small employer who does not qualify for a small business tax credit, you may still purchase coverage through SHOP. SHOP is open to employers with 50 or fewer full-time-equivalent employees (FTEs) and enrollment is open year- round. If you have questions about the SHOP Marketplace call 1-800-706-7893 (TTY: 1-800-706-7915), Monday through Friday, 9 a.m. to 7 p.m. ET.
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