AED Newsletter Header - Jan13

Does Your Company Wellness Program
Qualify for a Tax Credit?

To encourage the health and well-being of its citizens, the Commonwealth of Massachusetts now offers a tax credit to businesses that have implemented certain workplace wellness programs for their employees. 

 

The credit is available to businesses that have 500 or fewer employees, including corporations, professional companies, sole proprietorships, trades, and partnerships. The credit allowed is equal to 25% of the costs associated with implementing the wellness program, up to $10,000 per business in any single fiscal year.

 

Criteria for the types of wellness programs that are eligible for the tax credit

have been established by the Department of Public Health (DPH). Upon submission of documentation, the DPH will issue a certification of eligibility for the tax credit. This certification is required as proof of the expenditures related to an eligible wellness program.

 

Wellness program tax credits are allowed for the taxable year in which the program is implemented. However, additional costs may be carried over and the credit applied against the taxpayer's tax liability in any of the succeeding five taxable years.

 

For more information about the new wellness program tax credit, please contact the Gray, Gray & Gray Tax Department at (781) 407-0300.

We go beyond the numbers by delivering insight, guidance
and success to our clients.

 

Gray, Gray & Gray, LLP
34 Southwest Park

Westwood, MA 02090

781.407.0300

www.gggcpas.com


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