One of the good things that came out of the session was the bill to provide a tax break to small businesses that provide health insurance to their employees. Governor Riley signed the bill into law at the Capitol on June 10th. The bill will make health insurance more affordable so that more small businesses will offer it as an employee benefit. It will allow businesses with fewer than 25 employees to deduct from their state income taxes 150% of the amount they pay for health insurance for employees. Likewise, small business employees who earn less than $50,000 annually will be able to deduct from their state income taxes 150% of what they pay toward their health insurance.
Source: Associated Press
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