The Small Business Health Care Tax Credit
- Estimator
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Your Estimated Credit - :
Why is this just an estimate?
The credit provided above is based on the information you entered into the calculator. We cannot guarantee the amount without a complete review of your situation, which is beyond the scope of this tool.
| Your FTEs: | |
| Your average annual wages: | |
| Your share of the premiums (including the portion paid by state subsidies and tax credits): | |
| Estimate of the amount you would have paid if your employees' cost of coverage equaled the state average: | |
| Your maximum credit: of the smaller of your share or what you would have paid: | |
| FTE phaseout: | |
| Average annual wage phaseout: | |
| Credit after phaseouts: | |
| Your out of pocket share of premiums (not including state subsidies and tax credits): | |
| Your credit after state subsidies and tax credits limitation: | |
| For tax-exempt employers, your total payroll taxes (zero otherwise): | |
| Your credit (rounded to nearest $10): |
To claim the credit:
You must use Form 8941, Credit for Small Employer Health Insurance Premiums, to calculate the credit. If you're a small business, include the amount as part of the general business credit on your income tax return.
If you're a tax-exempt organization, include the amount on line 44f of the Form 990-T, Exempt Organization Business Income Tax Return. You must file the Form 990-T to claim the credit, even if you don't ordinarily do so.
If you are a small business employer you may be able to carry the credit back or forward. If you are a tax-exempt employer, you may be eligible for a refundable credit.