Pennsylvania HB2550 creates a tax credit for small businesses contributing to employee health insurance premiums.

HB2550 amends the Tax Reform Code of 1971 to establish a Small Business Health Care Premiums Contribution Tax Credit. This credit applies to qualified taxpayers, defined as entities with 50 or fewer employees, who make contributions to employees' eligible health insurance costs. The credit amount equals 100% of the aggregate contribution, up to a maximum of $5,000 per employee per year. Employers must make equal contributions to all eligible employees. The credit cannot be carried over, carried back, refunded, sold, or assigned.

Pennsylvania HB2550 creates a tax credit for small businesses contributing to employee health insurance premiums.

HB2550 amends the Tax Reform Code of 1971 to establish a Small Business Health Care Premiums Contribution Tax Credit. This credit applies to qualified taxpayers, defined as entities with 50 or fewer employees, who make contributions to employees' eligible health insurance costs. The credit amount equals 100% of the aggregate contribution, up to a maximum of $5,000 per employee per year. Employers must make equal contributions to all eligible employees. The credit cannot be carried over, carried back, refunded, sold, or assigned.