A post on HR3590.com shared that the National Federation of Independent Business (NFIB) has joined a lawsuit against the health care reform law spearheaded by several states, with Florida leading the way. NFIB small business legal center Karen Harned revealed that small businesses view the new health care law as unconstitutional and “bad for business”.
Days after news about the NFIB’s involvement in the lawsuit, the Treasury Department issued a new guidance that small businesses are eligible for state and federal tax credits. This was revealed by Treasury assistant secretary for tax policy Michael Mundaca. Federal officials are essentially saying that small businesses are actually eligible for more than what they thought under the new law in terms of tax credit provisions.
Mundaca explained the guidance during a teleconference, where he clarified that small businesses can receive the credit for traditional health insurance as well as for add-on dental, vision and other limited-scope health insurance coverage. There are an estimated 4 million small businesses that may be eligible for tax credits starting this year; the credit, though, will not be received until after businesses have been able to file their taxes in 2011.
The guidance was released days after NFIB joined the lawsuit against health care, and Small Business Administration administrator Karen Mills said that most small businesses “are excited about this tax credit.”
“Small-business owners everywhere are rightfully concerned that the unconstitutional new mandates, countless rules and new taxes in the healthcare law will devastate their business and their ability to create jobs,” Dan Danner, President and CEO of NFIB, shared.