According to the Small Business Administration, small businesses represent 63 percent of net new private sector jobs (www.sba.gov/sites/default/files/FAQ_March_2014_0.pdf). There have been a number of recent tax developments impacting small businesses.
Premium Tax Credit
Small businesses that pay at least half of health insurance premiums for employees may be eligible for a federal tax credit (Code Sec. 45R). Final regulations clarify a number of rules related to this credit, which was created by the Patient Protection and Affordable Care Act (T.D. 9672, June 26, 2014). The final regulations generally follow proposed regulations issued in August 2013 (REG-113792-13).
