Most small businesses eligible for tax credit under health care law
Businesses with fewer than 25 employees may qualify for a tax credit on their 2010 federal income taxes under the new federal health care law. The Small Business Health Care Tax Credit is part of the law's effort to maintain employer-based health coverage by reducing costs so small businesses will provide health insurance for workers. The tax credit can be up to 35 percent of health care costs for for-profit employers and 25 percent for nonprofit employers. In coming years, larger employers will face penalties if they don't provide insurance. The tax credit is an incentive for small businesses to provide coverage.
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