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Montana Health Insurance for Uninsured Montanans Credit

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Montana Health Insurance for Uninsured Montanans Credit

Answer

Health Insurance for Uninsured Montanans Credit.

You can claim a credit against your income tax liability if your business provides health insurance coverage for its employees. Your credit is a percentage of the premium payments that you made throughout the year for a maximum credit of up to $3,000 per year.
In order to qualify for this credit, as an employer you should meet the following criteria:
  -You have been in business in Montana for at least 12 months.
  -You employ 20 or fewer employees who work at least 20 hours a week.
  -You pay at least 50% of each of your employees health insurance premiums.
Your credit is limited to a maximum of 10 employees and should include small employer group health insurance under the Small Employer Health Insurance Availability Act.
Please Note: If you are using insurance premiums to calculate the Insure Montana small business health credit (which is a separate credit), these premium payments cannot be used to calculate this credit.


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Views: 923 Created on: Jun 15, 2013
Date updated: Jan 02, 2019
Posted in: States, Montana

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