News & Analysis as of

New Legislation Payroll Taxes

Ogletree, Deakins, Nash, Smoak & Stewart,...

Alabama Amends State Income Tax Exemption for Overtime Payments

In November 2023, Alabama enacted a law exempting, from Alabama state income tax, amounts received by full-time hourly wage-paid employees as compensation for overtime worked. On May 17, 2024, Alabama amended the Overtime...more

Fisher Phillips

Workplace Law Forecast 2024 - Your workplace law recap for 2023 and predictions for 2024 to help you prepare for the coming year.

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When I reflect on the relationship that our firm has with our clients, I’m most proud of the fact that you can always count on us. That often means defending complex litigation, steering you through regulatory threats,...more

McDermott Will & Emery

Employers Be Forewarned and Forearmed: Recent IRS Announcements Require Action on ERTC Claims

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Promoters and tax advisors have extensively marketed the Employee Retention Tax Credit (ERTC) as a way for employers to reclaim Federal Insurance Contributions Act (FICA) payroll taxes paid during the first two years of the...more

Littler

Nevada Passes Legislation Creating Licensing Requirements for Earned Wage Access Providers

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On June 15, 2023, Nevada Governor Joe Lombardo signed SB 290, which requires early wage access (EWA) providers to obtain a license from the Commissioner of Financial Institutions. This is the first EWA law enacted by any...more

Wilson Sonsini Goodrich & Rosati

Inflation Reduction Act Signed into Law: Important Tax Provisions and Energy Incentives You Need to Know

On August 12, 2022, the U.S. House of Representatives approved H.R. 5376, the "Inflation Reduction Act" (the Act), which was signed into law by President Biden on August 16, 2022. The approval and subsequent enactment follow...more

Fisher Phillips

Delaware Joins Trend to Provide Paid Family Leave: What Employers Need to Know

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Governor John Carney recently signed a bill making Delaware the 11th state to create a paid family leave program for eligible employees. Covered businesses will need to make payroll contributions beginning January 1, 2025,...more

Fisher Phillips

Employer FAQs as Maryland Becomes 10th State to Provide Paid Family Leave

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Maryland will soon be the tenth state to offer paid family leave to employees, continuing a trend that is expected to roll across the country in the next few years. This comes after the Maryland legislature’s April 9 vote to...more

Schwabe, Williamson & Wyatt PC

Washington Long-Term Care Insurance Tax

On January 27, 2022, Governor Jay Inslee signed two bills that delay implementation of the Washington Cares Act to July 1, 2023, including the 0.58% payroll tax, and provide additional exemptions from the program. The Act...more

Bodman

New COVID Relief Bill – expanded worker benefits; payroll tax changes

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On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (the “Act”). In addition to the 2021 appropriations and authorizations, this spending package includes $900 billion in emergency...more

Schwabe, Williamson & Wyatt PC

Consolidated Appropriations Act, 2021: Tax Update

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the “Act”). The Act, which includes the COVID-19-related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax...more

Fisher Phillips

Colorado Passes Paid Family And Medical Leave Insurance Program: What Do Employers Need To Do Now?

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Colorado voters passed Proposition 118 yesterday, creating Paid Family and Medical Leave obligations for all employers in the state. This initiative mandates that employers provide 12 weeks of leave for Colorado employees,...more

Bowditch & Dewey

PPP Flexibility Act of 2020

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On Friday June 5, President Trump signed into law the Paycheck Protection Flexibility Act which makes the following tweaks to the original terms of the Paycheck Protection Loan Program. EXTENSION OF THE COVERED PERIOD ...more

Sullivan & Worcester

Better Late Than Never? New Law Expands Loan Forgiveness Provisions of the Paycheck Protection Program and Provides Other...

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On Friday, June 5, 2020, bipartisan legislation aimed at addressing many of the issues and difficulties that have arisen with respect to the loan forgiveness provisions of the Paycheck Protection Program (PPP) became law. The...more

Jackson Walker

Paycheck Protection Program Flexibility Act Of 2020 – Amendments Affording Greater Flexibility To PPP Borrowers

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The Acts - On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, providing emergency economic stimulus to small businesses and certain eligible recipients in response to the economic distress...more

McAfee & Taft

New law, SBA rule make substantial changes to PPP loan forgiveness

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On May 22, 2020, the SBA released its Interim Final Rule on Paycheck Protection Program Loan Forgiveness (“IFR”). On June 5, 2020, the President signed the “Paycheck Protection Program Flexibility Act of 2020.” Both made...more

Foster Garvey PC

The Paycheck Protection Program Flexibility Act of 2020 Is Now Law

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As I previously reported, the Paycheck Protection Program Flexibility Act of 2020 (“PPPFA”) was jointly introduced in the U.S. House of Representatives (“House”) by Representative Chip Roy, a Republican from Texas and...more

Jones Day

President Signs Amendments to Paycheck Protection Program Into Law - Amendments to loan forgiveness period, safe harbors, and...

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The new Paycheck Protection Program Flexibility Act of 2020  ("PPPFA") amends the Paycheck Protection Program ("PPP") created under the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and affects both existing...more

Proskauer Rose LLP

Paycheck Protection Program – Where Are We Now? An Up-To-Date Guide to the Paycheck Protection Program (UPDATED)

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Originally published on April 14, 2020. Last updated as of June 5, 2020. Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more

Akin Gump Strauss Hauer & Feld LLP

Senate Clears House-Passed PPP Reform Bill, Sends Measure to President Trump’s Desk

- Both chambers of Congress have passed the Paycheck Protection Program Flexibility Act of 2020. The bill now heads to President Trump’s desk for his signature. - The measure extends the Paycheck Protection Program loan...more

Goodwin

U.S. Paycheck Protection Program Loan Modifications: Summary of Key Changes

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Today the President signed into law the “Paycheck Protection Program Flexibility Act of 2020” (H.R. 7010), which makes several substantial modifications to the U.S. Small Business Administration’s Paycheck Protection Program....more

Womble Bond Dickinson

PPP Extension & Increased Flexibility: Paycheck Protection Program Flexibility Act of 2020 & Other Updates

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Late in the day on June 3, 2020, after days of dramatic uncertainty about whether certain senators would object, the U.S. Senate approved by unanimous consent the Paycheck Protection Program Flexibility Act of 2020 (H.R....more

FordHarrison

Payroll Protection Program Update: President Signs PPP Flexibility Bill into Law

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The CARES Act created the Paycheck Protection Program (“PPP”), which amended the Small Business Act (“SBA”) to provide short term loans to companies with fewer than 500 employees and other companies (such as those in the...more

Troutman Pepper

How to Navigate the After Effects of the U.S. Stimulus Packages

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Your company received stimulus funding, what do you need to know now? Join us for an update on the Paycheck Protection Program and other funding packages as well as a discussion of what you need to know to stay compliant and...more

Hogan Lovells

Payroll Tax Credits under the Families First Coronavirus Response Act

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As discussed in prior blog posts, the Families First Coronavirus Response Act (“FFCRA” or the “Act”) will require covered employers to provide certain levels of paid emergency sick leave and paid Family and Medical Leave Act...more

Cranfill Sumner LLP

FAQs on Loans to Businesses Under the Economic Stimulus Bill: The CARES Act

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Late Wednesday night, on March 25, 2020, the Senate passed the Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act.” This legislation is designed to bring financial relief to individuals and businesses hurting...more

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