NJECPAC & NJ-IEC Partnering to Protect You And Your Business

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New Jersey, United States
NJECPAC is a Continuing Political Committee (CPC). A CPC is any group of two or more persons acting jointly, or any corporation, partnership, or any other incorporated or unincorporated association, civic association or other organization, which in any calendar year contributes to aid or promote the candidacy of an individual, or the candidacies of individuals, for elective public office, or the passage or defeat of a public question or public questions, lobby for the passage or defeat of certain legislative bills introduced in the NJ Legislature in accordance with N.J.S.A. 19:44A-8(b). A CPC is frequently referred to as Political Action Committee (PAC). The NJECPAC was formed to provide funding for legislative initiatives of its members and its member organizations representing the interests of Electrical Contractors, Small Businesses and Taxpayers throughout the State of New Jersey.

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Thursday, June 3, 2010

1099 Rule Buried In Health Care Reform Law Draws Criticism

Rep. Dan Lungren, R-Calif., has introduced a bill that would roll back the provision buried on page 737 of H.R. 3590 The Patient Protection and Affordable Care Act, that will require businesses to file 1099 forms to any vendor from which they purchase $600 or more of goods and services.

The provision is expected to be especially hard on small-business owners who could be faced with a drastic increase in paperwork.

Given the current Senate and House Majority that passed HR 3590, we do not have high hopes for this bill to ever see the light of day. The best advise we can give to our members is to start preparing to comply now so you do not get caught by surprise when the provision takes effect on January 1st, 2012.
Read More, Bloomberg Business Week
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