How to determine the average annual wage

To qualify for the health tax credit, your business must meet a few different criteria.  One of them relates to the average annual wage of your employees.  Please reference our first post (click here) on the main criteria, but to help calculate the average wage follow the steps below:

1. Add up the aggregate amount of wages paid by the employer to the employees during the taxable year
2. Divide this total by the number of full-time equivalent employees for the taxable year
3. If the number is not an even thousand, round the amount to the nearest $1,000.

There you have it.  Just like this information, there will be more information released in the coming days, months, years.  If you have any questions or need any assistance, please give us a call 816-254-6100.

Travis