Under the Hiring Incentives to Restore Employment (HIRE) Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers (“qualified employees”).
A Hawaii law – which is set to take effect on July 1 – could cause many nonprofit organizations to lose their tax-exempt status, according to Pacific Business News.
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.
A recent survey from the Small Business & Entrepreneurship Council says that Massachusetts is one of the 10 least business-friendly states in the country. The council says it has one of the worst corporate tax systems in the nation. But this may soon change.
Experts predict that small businesses will lead the economy toward recovery. SMBs have created 64 percent of net new jobs in the past 15 years, according to the Small Business Administration, and continued small business formation is needed to reduce the current unemployment rates.
Some say the economy is slow to recover, but if business owners’ optimism is any indication of the things to come, turnaround may come sooner rather than later. A recently released survey from the National Federation of Independent Business shows entrepreneurs’ confidence is at its highest point since September 2008.
Many say the rural parts of the country are the most economically depressed in the current period of recession. This is why the state of Oklahoma was so quick to support a Rural Small Business program.