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New Tax Credit Helps Small Nonprofits Provide Health Insurance Coverage

04/19/2010

Many small tax-exempt organizations that provide health insurance coverage to their employees may now qualify for the Small Business Health Care Tax Credit. Recent health care reform legislation designed this federal income tax credit to encourage small employers to offer health care coverage for the first time or to maintain coverage they already provide. Even if they have no taxable income, eligible tax-exempt organization employers may claim the credit to receive a refund for amounts paid to provide health care insurance for their employees. This alert covers the following:

  • Which Exempt Organizations Are Eligible for the Credit?
  • How Does My Organization Claim the Credit?
  • How Much Is the Credit?