This is mostly true. The employer has to pay for up to 14 days of paid sick leave at 2/3 of the employees salary. That entire amount can be written off as a tax credit for the business (100% credit) the following tax filing. There are some upper level limits for employees making over $300K per year though.
Thanks for the clarification. The article I read about this wasn't clear on the details, and I haven't been able to find it again.
The writeoff as a tax credit blunts the impact on small business, although they would have to find the cash before the end of their fiscal year. It might be hard for an undercapitalized business that is already struggling.
This is mostly true. The employer has to pay for up to 14 days of paid sick leave at 2/3 of the employees salary. That entire amount can be written off as a tax credit for the business (100% credit) the following tax filing. There are some upper level limits for employees making over $300K per year though.
Thanks for the clarification. The article I read about this wasn't clear on the details, and I haven't been able to find it again.
The writeoff as a tax credit blunts the impact on small business, although they would have to find the cash before the end of their fiscal year. It might be hard for an undercapitalized business that is already struggling.