Governor Christie has outlined a detailed plan for economic development in New Jersey.The New Jersey Partnership for Action will be overseen by Lt. Governor Guadagno and will serve as the starting point for all initiatives, policies and efforts related to growing New Jersey’s economy and creating quality, sustainable jobs. Specifics of the Partnership include: · Attracting New Businesses and Helping Existing Businesses Thrive · Promoting New Jersey as a Place for Businesses to Choose · Developing Policy Initiatives that Capitalize … Continue reading New Jersey Partnership for Action
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New Jersey Partnership for Action
Also posted in New Jersey Job Market, Uncategorized Tagged Economy, Jobs, New Jersey, Partnership for Action Comments closed
Immediate Healthcare Tax Credit for Employers with 2-50 Employees
In general the credit is available to small employers who pay at least half the cost of the Single coverage for their employees. They also need to meet certain firm size and wage requirements. The maximum credit is 35% of 2010 paid premiums by eligible small business employers. By 2014 the maximum credit will increase to 50% of paid premium. Eligible small businesses can claim the credit as part of their general business credit starting with the 2010 income tax … Continue reading Immediate Healthcare Tax Credit for Employers with 2-50 Employees
New Jersey State Budget News
The Office of Legislative Services (OLS) projects that fiscal 2010 and fiscal 2011 revenues will be $249.4 million less than the estimates in the Governor’s proposed fiscal 2011 budget. For fiscal 2010, the OLS revenues are $81.7 million below the Governor’s estimates, and OLS’s fiscal 2011 estimates are $167.7 million below the Governor’s projections. These differences are relatively minor, representing less than 1 percent of the budget. The biggest reason for the lower estimate is the underperformance of the sales … Continue reading New Jersey State Budget News
Also posted in New Jersey Job Market, Uncategorized Tagged Budget, New Jersey, News, NJ Comments closed
IRS Publishes HIRE Act Affidavit
Last week, we told you about the affidavit staffing firms need to produce when hiring new employees under the new HIRE Act. This week, the U.S. Internal Revenue Service released Form W-11, the Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit. The HIRE Act is a new law that provides a temporary payroll tax holiday to companies that hire previously unemployed workers during 2010. The IRS form will help employers claim the special payroll tax exemption. The form should … Continue reading IRS Publishes HIRE Act Affidavit
Obama New HIRE Act
The new HIRE Act signed by President Obama this month provides a temporary payroll tax exemption to companies, including staffing firms that hire previously unemployed workers. The law requires employees to sign an affidavit certifying that they had not been employed for more than 40 hours total in the 60-day period immediately prior to beginning employment. The U.S. Internal Revenue Service has indicated it will issue a form that employers can provide for employees to sign.
Also posted in New Jersey Job Market, Uncategorized Tagged Act, Hire, Obama, Unemployed Comments closed
Healthcare Reform Bill to be Signed on Tuesday
President Obama will sign the Health Care Reform Reconciliation Bill on Tuesday, March 30. The U.S. House of Representatives voted on March 25 to approve a “reconciliation” bill containing major amendments to the Senate-passed health care reform bill that was signed by President Obama last week. The Senate approved the bill earlier that day but made minor changes that required that it be sent back to the House for a final vote. Among other things, the reconciliation bill dramatically increases … Continue reading Healthcare Reform Bill to be Signed on Tuesday
Also posted in New Jersey Job Market, Uncategorized Tagged Healthcare, NJ, Reform, Staffing Comments closed
Hearing on State Unemployment Insurance Trust Fund
The Senate Labor Committee will hold a public hearing on Thursday, March 18, 2010 at 10:00 AM in Committee Room 6, 1st Floor, State House Annex, Trenton, NJ. The Committee will hear testimony from the public about the fiscal condition of the State Unemployment Insurance (UI) Trust Fund and related UI tax issues, the effectiveness of the UI program in mitigating hardships from layoffs, and the scope and future prospects of federal programs for the unemployed, including UI benefit extensions and … Continue reading Hearing on State Unemployment Insurance Trust Fund
Unemployment Tax Fight in New Jersey Legislature
Senator Fred Madden and Assemblyman Joseph Egan, chairmen of the Senate and Assembly labor committees respectively, said they are committed to seeking a compromise that would protect the state’s jobless from seeing any cut to their current unemployment benefits while also insulating businesses from a scheduled increase in their unemployment insurance taxes. Madden and Egan said such an agreement is necessary after they received notice from the nonpartisan Office of Legislative Services that a proposed cut in state benefits … Continue reading Unemployment Tax Fight in New Jersey Legislature
Also posted in New Jersey Job Market, Uncategorized Tagged Benefits, New Jersey, NJ, Unemployment Comments closed
Jobs Bill and New Hire Credit Passed by House
The House of Representatives passed the legislation on March 4. The jobs bill contains two major provisions. First, it would exempt businesses hiring the unemployed from the 6.2 percent Social Security payroll tax through December and give them an additional $1,000 credit if new workers stay on the job a full year. The Social Security trust fund would be reimbursed for the lost revenue. Second, it would extend highway and mass transit programs through the end of the year and … Continue reading Jobs Bill and New Hire Credit Passed by House
Proposed NJ Labor Legislation, S. 1301, was introduced last week
This bill is designed to encourage employers who must reduce their employees’ work hours because of economic conditions to avoid layoffs by sharing the remaining work. That is achieved by permitting, under certain circumstances, a full-time employee to receive unemployment benefits when the employee’s weekly work time is reduced by 10% or more. The bill also permits the employee to attend an approved training program while receiving those benefits. The bill also provides that an employer of at least 10 … Continue reading Proposed NJ Labor Legislation, S. 1301, was introduced last week
