SCOTUS Upholds ACA & IRS Ends Reimbursements

Notwithstanding the big news in today’s papers that the US Supreme Court (SCOTUS) decided in the King v. Burwell decision to uphold the funding mechanisms for the Affordable Care Act, Internal Revenue Service rules next week officially end the transitional exemption from the excise penalty for a small employer (generally less than 50 employees or…

Read More »

Maine Legislature Blocks Governor’s Tax Repeal

The Maine legislature succeeded at last this week in thwarting Governor Paul LePage and his effort to repeal the state income tax.  LePage has been pushing for a constitutional amendment that would eliminate the income tax (put in place in 1967) and replace its funding with increases to the state sales tax.  The Maine Senate…

Read More »

It Ain’t Over Til It’s Over

We’ve enjoyed following Maine Governor Paul LePage and his quest to eliminate the state income tax with a constitutional amendment.  He coupled this idea with a host of legislative initiatives, all of which are geared toward improving the economic climate in Maine.  This past week however, the legislature’s Appropriations Committee rejected a number of tax…

Read More »

California Giveth and LA Taketh Away

There was both good news and bad for franchise owners coming out of the Golden State this week as the full California Assembly passed AB 525, the Franchise Relations Act, which will help restore some balance to the franchise relationship.  Just two days later, the Los Angeles City Council, by a 14 – 1 vote,…

Read More »

Maine Governor Backing Right-To-Work

Governor Paul LePage, who has been a staunch supporter of loosening the shackles on business to create more economic opportunity for Mainers has now thrown his support behind a long-shot effort to make Maine the 26th Right-To-Work state in the nation.  The Governor’s senior economic adviser led a host of administration officials testifying in favor…

Read More »

Maine Is Legislative Hotbed

Although one might not normally identify the state of Maine as a hotbead of legislative activity, it is certainly fitting that bill thus far this year.  Maine’s pro-business Governor Paul LePage has been advocating legislation that would prohibit individual cities and towns from creating their own minimum wages, and representatives of his administration spoke in…

Read More »

US House Kills “Death Tax”, Senate Agreement Unlikely

Well, some in Washington are at least trying to put more money back in the taxpayers’ pockets, but it’s not likely they’ll succeed in this particular effort.  The House voted last week to repeal the federal estate tax, also known as the “death tax” and currently pegged at 40% of inherited assets, by a vote…

Read More »

IRS Plans One Million Audits in 2015

Americans’ 2015 tax returns are due in to the Internal Revenue Service next Wednesday, April 15, so it seems timely to advise that the IRS earlier this month announced that they plan to undertake 1 million audits of tax returns.  IRS Commissioner John Koskinen made the announcement in a speech to the National Press Club…

Read More »

New Department of Justice Policy on Bank Account Seizures

In what one might argue is positive news coming out of Washington, Attorney General Holder has announced new limits on the Department of Justice’s ability to seize assets of private businesses for suspected ‘structuring’ (manipulating cash deposits to under $10,000 to avoid IRS reporting requirements).  Under the new policy on asset forfeiture, assets will not…

Read More »

Maine Governor Uses Veto Threat To Push Tax Reform

Maine Governor Paul LePage, arguably bringing tax reform initiatives to a new level, threatened to use his veto power on all legislation dealing with tax exemptions and tax breaks that the legislature sends him until such time as they take some kind of action on his own tax reform package that the Governor filed at…

Read More »