Small Business Savings
Tax credits for small businesses are available through Connect for Health Colorado year round. You may qualify for a small business tax credit of up to 50 percent (35 percent for nonprofits) to offset the cost of premiums for your employees. This credit is available to employers for two years.
To qualify, small businesses must:
- Employ fewer than 25 full-time workers (employers with fewer than 50 part-time workers may be eligible).
- Pay average annual wages below $50,000, excluding the wages of owners and their families.
- Provide health insurance to employees and cover at least 50 percent of the cost of single coverage.
Use our calculator below to find out if you might qualify for a tax credit, and if so, what amount you may expect to save. Keep in mind that results from the calculator are an estimate. Please consult your tax adviser for further assistance.
You can also view information on the IRS website.