03/21/2008
Spending caps study committee
Last week, the Senate Judiciary Spending Caps Study Committee continued its work on the state spending caps bill, Senate Bill 718, and gave a favorable report to the bill. The committee's staff will work with Dr. Bill Gillespie, the state's chief economist, on redrafting the required Constitutional amendment that would require a two-thirds vote by both the House and Senate before the cap could be exceeded. Enabling legislation must also be drafted for the 15 percent limit on the budget stabilization fund balance. The study committee met on Wednesday, March 19, for final approval of the language. It is a difficult to pass a Constitutional amendment in South Carolina, because it requires a two-thirds vote of the House and Senate and approval by the governor.
Small business owners attend "Ten Ways to Stay out of Court"
More than 140 small business owners attended the "Ten Ways to Stay out of Court" seminars held in South Carolina in February and March. The tour made eight stops around the state: Greenville, Spartanburg, Aiken, Columbia, Lexington, Beaufort, Charleston and Myrtle Beach. Elizabeth Milito, senior executive counsel, and Dan Bosch, programs manager from the Small Business Legal Center, gave the presentations.
The seminars gave small business owners simple advice on avoiding lawsuits. The U.S. tort system costs businesses more than $260 billion a year -- and small businesses bear a significant share of that.
Milito and Bosch discussed the most common trouble areas for business owners including insurance, employment law fundamentals, independent contractor issues, workers' compensation and document retention. Read the entire report, click here.
Increased immigration fines for employers
The U.S. Department of Homeland Security has increased fines on employers for knowingly hiring undocumented workers. The new fines will take effect March 27. Below is an outline of the old and new maximum fines.
It is important to recognize the severity of the consequences for non-compliance. For example, business owners should also be aware that the immigration fines are levied per employee, so an employer who hires 10 illegal immigrants could be liable for up to $160,000 in civil fines, on the basis of a maximum fee of $16,000 each.
Employers should take note of the new fines and make sure they comply with all immigration laws and regulations. For more information regarding your rights and duties as an employer, please visit the DHS Web site.
| Offense: | Old maximum penalty: | New maximum penalty: |
| Hiring, recruiting, or referring a non-documented worker | ||
| (first order) | $2,200 | $3,200 |
| (second order) | $5,500 | $6,500 |
| (subsequent orders) | $11,000 | $16,000 |
| Unlawful employment of aliens per person | ||
| (first order) | $2,200 | $3,200 |
| (second order) | $5,500 | $6,500 |
| (subsequent orders) | $11,000 | $16,000 |
| Creation, use, or possession of fraudulent documents in order to satisfy requirements of immigration laws | ||
| (first order) | $2,200 | $3,200 |
| (subsequent orders) | $5,500 | $6,500 |
Compliance reminder: Fines are increased for those employers who knowingly hire illegal immigrants or continue to employ them. Employers must accurately complete all eligibility documents, including the Form I-9, and may not create forged or fraudulent documents. Furthermore, employers may not engage in "unfair employment practices" with regard to immigration, such as discrimination on the basis of race or nationality.
Get further information regarding I-9 compliance.
FREE 2008 IRS Tax Calendar for Small Businesses and the Self-Employed
This 36 page, 12-month wall calendar is full with useful information on general business taxes, common tax filing dates, electronic filing and paying options and tips that may be relevant to small-business owners. The tax calendar can also be imported into Microsoft Outlook and iCal. Get yours by visiting the IRS Web site.
