04/04/2008
State
Massive tax increase legislation passes committee
The House Education Appropriation Committee has passed a substitute to House Bill 350 that would impose millions of dollars in new taxes on business.
The original intent of HB 350 was to clarify an earlier corporate tax law that continues to be the subject of ongoing appeals by the Alabama courts. The version of the bill that was approved by committee would go far beyond the original legislation and impose about $96 million in new and damaging business taxes. It also would take away a business' ability to challenge or appeal disallowed or disputed deductions.
Make no mistake, HB 350 in its current form is nothing more than a massive tax increase that would punish businesses, both large and small, even as we face the genuine prospect of a slow down in the economy.
Passage of the substitute for HB 350 also would seriously damage the wallet of the average consumer as many businesses will be forced to pass the costs of increased taxes onto their customers.
Call your House member on Monday at 334-242-7600 and asked them to oppose HB 350 in its current form.
Committee won't hear NFIB-backed bill
To add further insult to the business community and everyone it employs, the same House committee refuses to give even simple consideration to NFIB-endorsed HB 144, a tax-cut measure designed to help small business owners provide quality health insurance for their workers.
Under the provisions of this legislation, businesses would be allowed to deduct from their state income taxes twice the amount they pay for health insurance premiums. HB 144 also would encourage participation in the health insurance plans by allowing employees to deduct twice the amount they contribute toward their portion of the premiums.
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Gov. Bob Riley signs a proclamation honoring NFIB member Eleanor Davis and her participation and placement in the Ms. Senior America pageant. |
NFIB member places in national pageant
NFIB member Eleanor Davis was honored with a proclamation by Gov. Bob Riley. Gov. Riley recognized her for placing third in the Ms. Senior America pageant earlier this year. Eleanor is the owner of Repeat Performance, a high-end consignment shop in the Mulberry Business District in Montgomery. She bought the shop 4.5 years ago, when she was 65 and has no plans to retire.
Federal
Bipartisan healthcare legislation introduced
Legislation, called the Small Business Health Options Program (SHOP), was recently introduced in the U.S. Senate. The legislation is designed to make health insurance more affordable, predictable and accessible for small businesses with up to 100 employees.
SHOP seeks to lower costs for small businesses and provides a simpler way to shop for and expand the choice of health insurance policies. Features of the legislation include:
- A national healthcare purchasing pool from which small business can choose from and access competitive insurance policies, enabling them to spread risk over a large number of participants
- Small business targeted tax credit
- Revised rating system in order to protect small businesses from large rate increases simply because one employee gets sick
Reminder-new I-9 Form now in effect
The new I-9 Employee Eligibility form is now in effect. NFIB's Legal Foundation has posted guidelines and forms to help you avoid fines of up to $1,100 for non-compliance with new requirements. As of Thursday, March 27, 2008, fines for non-compliance will increase by 25 percent. A first-time violation can result in a fine of up to $3,200 and multiple violations can lead to fines of up to $16,000. Please visit NFIB.com often to keep an eye on the latest developments. For a copy of the form, please call the Montgomery office at 334-264-2261.
Sincerely,
Rosemary Elebash
NFIB/Alabama State Director
Rosemary.Elebash@NFIB.org
