Pennsylvania SB1389 establishes a tax credit for small businesses contributing to employee health care premiums.

Pennsylvania SB1389 introduces a tax credit for small businesses that contribute to their employees' health care premiums. This credit applies to qualified taxpayers, defined as entities with 50 or fewer employees, who make contributions to employees' health reimbursement arrangements. The credit is equal to 100% of the aggregate contribution made by the employer. Employers must make equal contributions to all eligible employees and cannot carry forward, carry back, or obtain a refund of unused credits. Additionally, employers cannot sell or assign the tax credit.

Pennsylvania SB1389 establishes a tax credit for small businesses contributing to employee health care premiums.

Pennsylvania SB1389 introduces a tax credit for small businesses that contribute to their employees' health care premiums. This credit applies to qualified taxpayers, defined as entities with 50 or fewer employees, who make contributions to employees' health reimbursement arrangements. The credit is equal to 100% of the aggregate contribution made by the employer. Employers must make equal contributions to all eligible employees and cannot carry forward, carry back, or obtain a refund of unused credits. Additionally, employers cannot sell or assign the tax credit.