Kelly Services Acclaims U.S. Senate Passage of SUTA Dumping Prevention Act
23 Luglio 2004 - 8:43PM
PR Newswire (US)
Kelly Services Acclaims U.S. Senate Passage of SUTA Dumping
Prevention Act TROY, Mich., July 23 /PRNewswire-FirstCall/ -- Kelly
Services, Inc. (NASDAQ:KELYANASDAQ:KELYB) hails yesterday's vote by
the U.S. Senate to ban the use of tax schemes by companies to avoid
paying their fair share of unemployment insurance taxes. With
bipartisan support, the Senate passed the SUTA Dumping Prevention
Act of 2004, by unanimous consent. President Bush is expected to
sign the bill into law. (Logo:
http://www.newscom.com/cgi-bin/prnh/19991208/KELLYLOGO ) SUTA
dumping occurs when employers take deliberate action to disguise
their true unemployment experience for the purpose of evading
unemployment insurance taxes. Most frequently, it involves the use
of questionable merger, acquisition or restructuring schemes to
manipulate unemployment insurance tax rates. The SUTA bill would
require each state to enact conforming legislation that would
prevent corporations from engaging in this deceptive practice,
develop detection tools, and enforce the law. It also imposes
penalties on violators and promoters. Senate sponsors of the
legislation were Don Nickles (R-Okla.), Ted Kennedy (D-Mass.),
Charles Grassley (R-Iowa), Max Baucus (D-Mont.), John Ensign (R-
Nev.), Carl Levin (D-Mich.), Patty Murray (D-Wash.), and Judd Gregg
(R-N.H.). "We are pleased that the Senate acted quickly and in
bipartisan fashion, as did the House, to support legislation that
ends a tax scheme by employers that could be draining state trust
funds of billions of dollars," said Carl Camden, president, Kelly
Services. "Workers, states and ethical employers all have reason to
cheer," he said. Kelly Services has helped lead the effort to bring
this issue to the attention of policy makers. SUTA dumping schemes
have been promoted for years by accounting firms and other
unemployment compensation consultants. In testimony to the U.S.
House Ways and Means Committee, the U.S. Department of Labor
indicated the practice could be costing state insurance trust funds
billions of dollars. SUTA dumping reduces state trust fund receipts
and shifts a disproportionate share of the unemployment
compensation tax burden to more ethical employers. "Congress has
demonstrated that Republicans and Democrats alike can embrace an
issue that protects the integrity of state unemployment
compensation systems," said Camden. "We urge states to begin work
immediately to implement the bill and put an end to this tax
avoidance scheme." About Kelly Services Kelly Services, Inc.
(NASDAQ:KELYANASDAQ:KELYB) is a Fortune 500 company headquartered
in Troy, Mich., offering staffing solutions that include temporary
services, staff leasing, outsourcing, vendor on-site and full-time
placement. Kelly serves 200,000 customers through 2,500 company
owned and operated offices in 26 countries. Kelly provides
employment for nearly 700,000 employees annually, with skills
including office services, accounting, engineering, information
technology, law, science, marketing, light industrial, education,
health care and home care. Revenue in 2003 was $4.3 billion. Visit
http://www.kellyservices.com/ .
http://www.newscom.com/cgi-bin/prnh/19991208/KELLYLOGO DATASOURCE:
Kelly Services, Inc. CONTACT: Bob Doetsch of Kelly Services, Inc.,
+1-248-244-5362 Web site: http://www.kellyservices.com/
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