Massachusetts Representative Barney Frank – the chair of the House Financial Services Committee – says that he expects a rule exempting small and medium businesses from costly audits to survive negotiations between the House and Senate. The rule was mandated in the Sarbanes-Oxley Act.
The Idaho Department of Commerce has launched a website as part of its public relations campaign to try to encourage existing small businesses and aspiring entrepreneurs to create a corporation there.
New Hampshire lawmakers say they will now work to repeal a tax on limited liability corporations during upcoming budget negotiations, after failing to include the repeal in a bill regarding reasonable compensation.
The Internal Revenue Service continues to urge thousands of 501(c)(3) charitable organizations that missed last month’s tax deadline to file their paperwork as soon as possible.
Officials in New Jersey are seeing signs of the economic recovery through an increase in business incorporations and small business loans over the past year, according to the New Jersey Times.
Bank of America says it will increase the amount it spends on small, medium-sized and diverse businesses, and pledges to purchase $10 billion in products and services from them over the next five years.
A recent wave of fraudulent loan scandals has targeted small business owners who may have been denied credit at other lending institutions as they try to create a corporation.
Maryland Governor Martin O’Malley is forming a commission to come up with ways to help the state’s small business owners.