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Press Release

Castor: Florida Companies to be Notified of Health Care Tax Credits

Small-business owners should check the mail because they will receive postcards relating to new tax credits, Congresswoman Kathy Castor said today.

Small-business owners should check the mail because they will receive postcards relating to new tax credits, Congresswoman Kathy Castor said today. Nearly 290,000 small businesses and tax-exempt organizations are expected to receive the notices in their mailboxes.

"Small-business owners and the employees who work for them are in line for vital help to pay for health insurance," Castor said. "Small businesses play a vital role in the Tampa Bay region’s economy. Small-business owners should take advantage of the health care tax credit so they can better afford covering their workers.

Employers with fewer than 25 full-time equivalent employees and an average wage of less than $50,000 may be eligible. Companies with 10 or fewer full-time equivalent employees and an average wage of $25,000 or less qualify for the maximum credit: 35 percent of what the employer is paying in health insurance premiums. The maximum credit rises to 50 percent in 2014.

Recognizing the important role small businesses play in our community, Castor on Thursday hosted her second small-business workshop. The workshop helped small-business owners learn how to compete for federal contracts. In turn, small businesses will be better able to create more jobs in our community.

The event was geared toward small, disadvantaged, women-owned, minority- owned or veteran-owned businesses. This workshop linked government experts on landing federal contracts with businesses so they can learn the necessary steps to begin bidding. Representatives from the US GSA Office of Small Business Utilization, the University of South Florida Small Business Development Center Procurement Technical Assistance Center (PTAC), and the Department of Commerce Minority Business Development Agency were on hand to help small businesses learn how to begin the bidding process.

Roughly 60 percent to 80 percent of new jobs are created by small businesses, according to estimates from the House Small Business Committee, and they account for approximately half of the nation’s jobs.

More information can be found at castor.house.gov/smallbusiness