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May 2010 - The Facts: Healthcare Tax Credit
© NFIB
Bill Rys, Tax Counsel at the NFIB, issued the following statement:
“Small businesses need to know the facts about the healthcare tax credit, that’s why we set up a tax credit calculator. The calculator will help owners estimate the amount of the credit, if any, that they may qualify for. The fact is less than one-third of small businesses meet the firm size and contribution requirements to qualify for the tax credit. While a temporary credit certainly isn’t a bad thing, it won’t solve small businesses healthcare cost problems.”
Data detail (from SBA, MEPS and Kaiser Family Foundation):
Of the approximately 6 million small businesses with employees (not just themselves), fewer than 1.8 million small businesses pass the first three “tests” to qualify for the health insurance tax credit. The data shows: approximately 1.8 million small businesses have 25 employees or less, offer health insurance and pay more than 50 percent of their employees’ health insurance costs. The credit’s fourth “test,” the payroll test, will likely exclude a significant number of these 1.8 million small businesses from qualifying for the tax credit, especially in certain industries (and regions). And those with average payrolls over $50,000 will not qualify for the credit at all. If you are one of the 23-24 million self-employed (who have no employees), you also don’t qualify.
More About the Calculator
To use the tool, entrepreneurs need to know four things: 1. How many full-time employees in the firm, 2. How many employees participate in the company’s health insurance plan, 3. How much the business contributes toward each employee’s insurance premium, and 4. The average wage per employee (excluding owner wages). Small businesses can access the calculator at www.NFIB.com/creditcalculator.
The tool is not intended as tax advice and small business owners should contact their accounting professional for specific guidance related to their businesses, employees and particular business situation.
April 2010 - What Businesses Need to Know About the New Health Care Law & Implementation
The timeline for the new health care legislation, passed by Congress and signed into law last month, sees many reforms go into effect 2014 with other aspects coming even later. The various government agencies, particularly the Department of Health and Human Services and Internal Revenue Service, will be working over the next several years on drafting the regulations necessary to implement the new laws, and it will be through this process that we’ll work to change and improve the regulations to help businesses.
In regards to the timing of these provisions as well as effects this legislation will have on businesses, we’ve attached two documents you might find helpful:
the Health Care Implementation Timeline
the Aftermath: New Realities for Businesses in the Wake of the Health Care Law
April 2010 - Initiative Petition Process
Johnson Haley has prepared a report on the initiative petition process here in Massachusetts and the five petitions still pending, four of which are projected to advance to the November ballot.
This information is provided to the Nashoba Valley Chamber of Commerce as a benefit of our partnership with MACCE (Massachusetts Association of Chamber of Commerce Executives).
Click Here for the Initiative Petition Process
April 2010 - Massachusetts Political Report
2010 is shaping up to be a pivotal year in Massachusetts politics, as a spirited and crowded gubernatorial contest takes shape amidst all the (a) excitement and (b) turmoil spawned by Scott Brown’s unexpected victory in the January special election for U.S. Senate.
In light of this, Johnson Haley has prepared an update to keep you informed on the state’s tumultous political scene. Provided to the Nashoba Valley Chamber of Commerce as a benefit of our partnership with MACCE (Massachusetts Association of Chamber of Commerce Executives).
Click Here for the April 2010 Mass Political Report
March 2010 - SBA Ready to Assist Mass Residents Affected by Severe Storms & Flooding
Following the announcement of the Presidential disaster declaration in Massachusetts for several counties affected by the severe storms and flooding beginning on March 12, Administrator Karen G. Mills of the U.S. Small Business Administration issued the following statement:
“The U.S. Small Business Administration is strongly committed to providing the people of Massachusetts with the most effective and customer-focused response possible to assist homeowners, renters, and small businesses with federal disaster loans. Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”
The disaster declaration covers...
Click Here for the full press release
Click Here for Disaster Loans Fact Sheet
March 2010 - Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers
WASHINGTON — Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today.
Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from their share of Social Security taxes on wages paid to these workers after the date of enactment....
Click Here for full article.
January 2010 - Legislative Advisory
Nashoba Valley Chamber of Commerce maintains an active line of communication with the State House and your Officials. We will continue to provide you with the most up to date info and happenings.
Click Here for Legislative Advisory Report.
We encourage you to contact your legislators to discuss your thoughts.
January 2010 - US Senate Special Election
The special state election will be held on January 19, 2010
The candidates are:
Senator Scott Brown, Republican
Attorney General Martha Coakley, Democratic
Joseph Kennedy, Independent
The Nashoba Valley Chamber has compiled information from the candidates websites regarding their position on the issues in an effort to make it easier for you to compare the candidates - Click Here. We have noted where content has been edited for space, please refer to the candidates website for full content.
We encourage you to get out and vote on Tuesday, January 19th in this very important election.
Click Here for information to Register to vote in Massachusetts
Click Here for information to Apply for an Absentee Ballot
December 2009 - Small Group Health Insurance Costs, Regulation & Reform
© Retailers Association of Massachusetts
Is your health insurance unaffordable? Have your premium costs increased at alarming rates over the years? Are you looking at another year of double digit health insurance cost increases?
Unfortunately, if you’re a small business, the answer is likely YES to all three questions. But if you could join together with other small businesses to group purchase health insurance, decrease your administrative costs and spread your risk – would you? Of course you would!
Contact your legislators today and ask them to support H.3452, An Act Relative to Small Business Health Insurance!
As a small business owner, you should be able to group together with other small businesses to buy health insurance, just like you do with worker’s comp. Current law specifically prohibits this practice for employers of 50 or fewer employees. H.3452 is legislation that would correct this injustice and allow small businesses to group buy. It is the most important step the Legislature can take to assist the small businesses of Massachusetts in continuing to provide health insurance to their employees and their families.
Click Here for the RAM webpage dedicated to Bill H.3452
We encourage you to contact your legislators to discuss your thoughts.
October 2009 - Legislative Advisory
Nashoba Valley Chamber of Commerce maintains an active line of communication with the State House and your Officials. We will continue to provide you with the most up to date info and happenings.
Click Here for Legislative Advisory Report.
We encourage you to contact your legislators to discuss your thoughts.
April 2009 - MA House of Representatives to Consider a Sales Tax Increase – to 7%
RAM (Retailers Association of Massachusetts) has alerted us about a debate that will begin on April 27th. The MA House of Representatives are considering a sales tax increase to 7%.
Click Here for information from RAM.
We encourage you to contact your legislators today!
April 2009 - NVCoC Opposes Employee Free Choice Act
Nashoba Valley Chamber of Commerce opposes Employee Free Choice Act (EFCA; S. 560, H.R. 1409). On April 16, 2009, NVCoC submitted letters indicating our opposition to our local legislative delegates. We encourage you to do the same. If you would like mailing information for Nashoba Valley area legislators, please contact the Chamber.
Click Here for details of Employee Free Choice Act (EFCA; S. 560, H.R. 1409).
August 2008 - Advisory
Employer Liability for Payroll Errors
Ch 80 of the Acts of 2008
(Effective July 12, 2008)
©NFIB
The Massachusetts legislature has enacted, without the Governor’s signature, a new law (Chapter 80 of the Acts of 2009) that took effect on July 12, 2008. The law provides that any error made by employers in the payment of wages, including but not limited to timely payment, overtime compensation, minimum wage, and distribution of tips, will be subject to treble damages -- three time actual damages...
Click Here for full article.
July 2008 - House Bill 4783
Nashoba Valley Chamber of Commerce opposes House Bill 4783. On July 11, 2008, NVCoC submitted letters indicating our opposition to our local legislative delegates, Senate President Therese Murray and Governor Patrick.
Click Here for full text of House Bill 4783.
May 2008 - Senate Bill 1073 - Paid Sick Days
Nashoba Valley Chamber of Commerce opposes Senate Bill 1073. On May 15, 2008, NVCoC submitted letters indicating our opposition to our local legislative delegates, all members of the Senate Ethics Committee, and to the Chair of the House Ways and Means Committee.
Click Here for full text of Senate Bill 1073.
State House News Service
The News Service started just after the turn of the century when one member of the press corps began copying every session of the House and Senate sessions (in pencil) and selling the copies to other reporters, so they wouldn't have to attend every moment. From that start the service, under several names, has added full wire-service coverage at a good price to news organizations and other clients.
Check out the State House News Service Website for information including the State House News Poll.
If you would like to sign up to receive their "Weekly Roundup" CLICK HERE.
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