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Covered California Q&A

Covered California and Obamacare related questions from consumers, employers and agents are answered by Phil Daigle with the best information available at the time. Archived entries may no longer be accurate as the Covered California and Obamacare knowledge-base is evolving quickly. TO REQUEST A PERSONAL RESPONSE INCLUDE EMAIL ADDRESS.

When Does the SHOP Tax Credit Expire?

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Question: The credit moves to 50% in 2014. How long will that last?

Answer: The 50% small business tax credit will be available through the 2015 tax year, but small businesses can claim the credit starting with their 2010 income tax return. So employers can potentially claim the credit for a total of six years The initial credit available from 2010 through 2013 is 35% plus 2014 and 2015 at 50%.

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The tax credits available to small business can be quite substantial. For example, in 2014 if you have 1 to 10 employees with the average annual wages under $50,000 and a contribution to premium cost of 50% or more, then the tax credit for the small business will be 50% of the premium cost contributed. Furthermore, if the number of employees increases to 11 to 25, and average wages are still below $50,000, then the tax credit will be less than 50%(I do not know the exact number for this amount, but it will be greater than 0% and less than 50%)

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