Introduced
by
To gradually eliminate health care insurance costs from the revenue base on which a firm’s Single Business Tax (SBT) liability is calculated. Because the SBT is a value added tax, offering health insurance to employees raises a firm’s SBT tax liability. The bill is part of a House and Senate legislative package that would phase out over five years the tax on the cost companies pay to provide of health care benefits to employees. The package is comprised of House Bills 5041 and 5042, and Senate Bills 672 to 674, each of which would cut the tax on health care expenses by 20 percent in one of the next five years.
Referred to the Committee on Finance
