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Small Businesses Eligible for Tax Credits
How many small businesses will be eligible for tax credits to help pay for health insurance for their employees? The answer is almost 159,900, according to the consumer health organization Families USA. This is 79 percent of the Illinois businesses with 25 or fewer employees.

Jonathan Vander Brug of the Campaign for Better Health Care says he doesn't know how many will participate. "It's there for them to take advantage of it," he said. "We've seen that with other small business tax credits, and other opportunities like this, especially when they address a need, that they are taking advantage of it, but that's something we're pushing for, so we'll see."

To get the tax credit, the average employee salary must be $50,000 or less, and the employer must pay half the cost of health insurance. The tax credit is up to 35 percent of the cost of insurance for this year, and will be up to 50 percent in 2014.

Vender Brug says small businesses are pay more for insurance and get less coverage than medium-sized and large businesses, and as a result they are less likely to offer insurance to their employees. The tax credit is in effect for Tax Year 2010.

(Illinois Radio Network)
07 22 10 by Newsroom
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