The start of a new year means the enactment of new federal, state and local laws and regulations that could impact many areas of your business, including how much you pay your employees and what you can write off on your taxes.
A few of those new laws and regulations are listed below: Accounting Today lists 11 federal and state regulatory changes in this article.
Among the changes small business owners need to be aware of are a partial payroll tax holiday, tax credits for businesses that provide health insurance and unemployment insurance changes.
The minimum wage in Arizona, Colorado, Montana, Ohio, Oregon, Vermont and Washington will rise between nine and 12 cents on Jan. 1. Learn more about these changes from MarketWatch.
In California, new procedures have been established and the definition clarified for Cal/OSHA serious citations, according to the Dept. of Industrial Relations.
The state of Georgia will streamline sales-tax collection, according to the Rome News-Tribune.
A New York state law will provide more protections to consumers seeking rebates from manufacturers and retailers, according to WGRZ.
Drivers in Texas will have to carry more auto insurance, according to the Star-Telegram.