Texas lawmakers introduced legislation in March that aims to offer tax relief to small businesses that provide ICHRAs to their employees. Small businesses with between one and 50 employees would qualify for a refund of sales and use taxes or a tax credit against the franchise tax if they adopt an ICHRA and contribute a minimum of $400 per covered employee annually. The refund or credit amount would be calculated based on the number of employees enrolled in the ICHRA during the taxable year, with the credit capped at $400 per employee or the total amount of taxes paid under the sales and use tax system, whichever is less.
Continue reading Texas Lawmakers Consider ICHRA Tax Relief For Small Businesses