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NAEDA has filed comments with the IRS concerning their notice on dual use property. NADEA followed others in the industry who also filed with the IRS including AED and Caterpillar.
What the IRS will do next is anybody’s guess. The IRS could initiate an Industry Issue Resolution process to negotiate a safe harbor with the industry, develop guidance through some other route, or drop the issue all together. However, given the fact that the IRS itself proposed to undertake this exercise, we think the latter option is the least likely.
Copies of NAEDA's and AED's filings can be found here.
The Supreme Court on Monday declined to review a case that charged federal regulators allowed a mid-level ethanol fuel blend onto the market without proper testing.
The National Conference of Weights and Measures (NCWM) adopted a new standard in 2012 that regulates vehicle engine (motor) oil. This standard will impact equipment dealers in several states enforceable on July 1, 2013. The new standard requires invoices or receipts to include vehicle engine (motor) oil information, as well as, it requires labeling of any engine oil container, receptacle, dispenser or storage tank.
Tornado season is upon us and the unfortunate and catastrophic events of the past few days in Oklahoma, Texas and other areas serve as a reminder that disaster can strike at anytime, anywhere. History has also shown that these storms and natural disasters impact thousands of households and businesses including those of NAEDA members and their employees.
NAEDA’s Equipment Dealers Foundation Disaster Relief Fund helps the employees of NAEDA dealer members who have been affected by natural disasters with emergency funds to help bridge the gap financially for the employees and families until insurance or other payments come in. When faced with a disaster, the EDF has been able to step in and help. Thanks to the generous support of dealers, manufacturers, suppliers and affiliated associations, EDF has assisted more than 130 families with more than $200,000 in direct disaster grants to employees of NAEDA members.
We have already received applications and provided financial assistance to dealership employees as a result of the recent tornados in Texas and likely will see more requests from the recent Oklahoma disasters. Please consider a generous donation to the NAEDA Equipment Dealers Foundation. Donations can be made on-line on the EDF website at: https://www.naeda.com/SupportEDF/EDFFoundationOnlinePayment.aspx
The oil industry hopes to protect its control over America’s fuel supply by undermining renewable fuels. By confusing us with misleading claims and outright falsehoods, oil companies hope Congress will overlook the real dangers caused by our almost complete dependence on oil for transportation fuels. For our economy and our environment, we cannot allow them to succeed.
The days of shopping online without paying sales taxes may be ending. States are cracking down and a nationwide system for collecting sales tax on online sales may be coming soon.
The budget proposal President Barack Obama released Wednesday is unlikely to gain any traction in agriculture, particularly in areas such as cuts to crop insurance or shifts in international food aid.
As states continue to struggle with the after-effects of the Great Recession, state policymakers are searching high and low for a revenue structure that will increase their state’s economic competitiveness. Just this year in several states, plans have surfaced that propose to reduce state income taxes and shift the tax burden to the sales tax by broadening the base to include services and increasing the rate. While economists generally agree that consumption-based (e.g., sales) taxes are more efficient than income taxes, extending the sales tax to services generally may have the opposite effect of that intended, since typically 70%-80% of such an expansion are taxes on business-to-business services and therefore not taxes on consumption at all. Indeed, taxing business-to-business services raises a host of problems, including:
The Affordable Care Act (ACA or health care reform) says "applicable large employers" have to offer health insurance to their full-time employees or they may incur a penalty. But what is an "applicable large employer", how many hours do full-time employees work, and what happens if health insurance isn't offered?
In late December 2012, the Departments of Labor, Health and Human Services, and Treasury released proposed rules employers can use in 2013 to determine if they have to offer full-time employees coverage in 2014. At the same time, the IRS released a set of FAQs that summarize the rules and are a helpful guide.
WOW! Congress adjourned in December with a two-year budget deal. Who would have thought that was possible, given the fact that they are even more unpopular than the president who is going to sign this deal. Just remember Congress will be back in Washington in January to discuss a host of unfinished business after their return and the elections next fall.
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