April 05, 2011
Your April Newsletter
Original version HERE
Take control of your health-care options!
Legislation to establish a competitive, state-based health-insurance marketplace that would offer individuals, families and small businesses more control, more transparency, better prices and better protections when purchasing health insurance is stuck in a State House committee.
If South Carolina fails to take action, by law, we will default to a federally operated insurance marketplace that will not be tailored to the needs, concerns and values of South Carolinians. Click here to read more.
Please contact members of the S.C. House Ways & Means Committee, urge them to support House Bill 3738 and to establish a fair and competitive health-insurance marketplace - by South Carolinians, for South Carolinians!
Click here for a list of the House Ways & Means Committee Members with their telephone numbers and e-mail addresses.
Stop Unfair Sales Tax Exemption
The South Carolina House is considering giving a sales tax exemption to Amazon if the company builds a new distribution center in Lexington County. The SCSBCC opposes the tax exemption because it would create an uneven playing field for small businesses competing with Amazon. Read the SCSBCC letter to House members.
A new retail organization, SC Alliance for Main Street Fairness, has been established to oppose the Amazon deal and, going forward, work toward requiring all internet purchases to include sales tax.
Contact your House member and ask them to oppose the sales tax exemption for Amazon. Tell them that the state should not be encouraging the public to make purchases via the internet rather than buying from South Carolina brick and mortar stores.
A list of all House members with telephone numbers and e-mail addresses can be found by clicking here.
New Health Insurance Plan Available Soon
Sign Up to receive more information and register to win a 10-person suite (including food and non-alcoholic beverages) at the May 13 USC Gamecock vs. Arkansas baseball game.
The SCSBCC is working with Gibson & Associates to create a unique health insurance plan just for our members. Under the program both for-profit and non-profit small businesses will be able to pick between 6 or 7 different plans and offer 2 plans to their employees.
The goal is to have a wide range of plans available for our members and use the pooling aspect of all members in the program to keep premiums relatively lower and more stable than on the open market.
“Until 2014 is here and small businesses have the option of a health insurance exchange, there is no reason why we shouldn’t try to help our members now with the cost of health insurance,” said Frank Knapp, Jr., president and CEO of the SCSBCC.
The health insurance program and plans have not yet been approved by the carrier or the S.C. Department of Insurance. The projected date for release of the program is May 1st and enrollment July 1st.
Small businesses can request to receive more information on this new health insurance program by clicking here. Submit your interest form by May 1 and enter the drawing to win a 10-person suite, including food and non-alcoholic beverages, at the May 13 USC Gamecocks vs. Arkansas baseball game!
Submit your online interest form by May 1 to be entered in the drawing.
FREE Tax Workshop
The Aiken Small Business Development Center is offering a FREE tax workshop for prospective and new small business owners. The workshop will be held from 9:00 AM to 4:00 PM on Wednesday, May 4, 2011, in the Penland Admin Building, Conference Room 110.
The Small Business Tax Workshop offers guidance on record keeping, types of business entities, Schedules C & SE and employment taxes. The employment tax segment provides an overview of Forms 940, 941 & 944, including e-file and EFTPS due dates. There is also a discussion on Employee Classification (Employee vs. Independent Contractor). Classes are taught by instructors who are qualified to practice before the IRS (Enrolled Agents and Certified Public Accountants) and by SCDOR and SCDEW Revenue Agents.
The morning session will cover federal tax requirements for small businesses and the afternoon session will cover state tax and employment security obligations. A packet of very helpful publications is given to each participant.
Registration is necessary by Monday, May 2, 2011.
To register for the workshop or for more information, please contact the Small Business Development Center via e-mail: SBDC@usca.edu or by telephone: 803-641-3646.
SBA 504 Refianance Program
Small business owners with eligible commercial real estate mortgages maturing after Dec. 31, 2012, will be able to secure more stable, long-term financing through the U.S. Small Business Administration’s temporary 504 refinancing program as a result of a change that will be published in The Federal Register by April 6.
In February, SBA implemented a temporary refinancing program enacted under the Small Business Jobs Act of 2010, which allowed small businesses facing maturing commercial real estate mortgages or balloon payments before Dec. 31, 2012, to refinance with an SBA 504 loan. The SBA change will lift the date limitation and will allow more small businesses to secure stable, long-term financing and avoid potential foreclosure on mortgages approved before and during the recession that were based on inflated real estate values. Click HERE to read the rest of this press release.
April BuySC Networking
On Tuesday April 19, from 6-8pm, the SCSBCC will be partnering with the North Columbia Business Association to host the April BuySC Networking event! The NCBA office is located at 2965 Main Street near the train trestle. Come on out for small business mingling and light refreshments! Please RSVP to email@example.com
Also, come out and get your portrait taken for FREE! Jim Potts of Paparazzi Photography will be setting up his portable portrait studio at the event and will offer free photo sittings for professionals headshots!