SUTA Dumping Prevention Act Becomes Law; Kelly Services Urges Rapid Action by States
11 Agosto 2004 - 8:27PM
PR Newswire (US)
SUTA Dumping Prevention Act Becomes Law; Kelly Services Urges Rapid
Action by States TROY, Mich., Aug. 11 /PRNewswire-FirstCall/ --
Kelly Services, Inc. is encouraging prompt action by the states to
implement legislation signed by President Bush that bans the use of
tax schemes by companies to avoid paying their appropriate share of
unemployment insurance taxes. The SUTA Dumping Prevention Act of
2004 became law August 9. SUTA is an acronym for State Unemployment
Tax Acts. (Logo:
http://www.newscom.com/cgi-bin/prnh/19991208/KELLYLOGO ) "We
congratulate the U.S. Department of Labor, Congress and the
President on their quick action to close this tax loophole that
likely is costing state unemployment trust funds billions of
dollars," said Carl Camden, president, Kelly Services. "We hope the
states will move in the same swift fashion and bipartisan spirit to
implement this bill requiring all companies to pay their fair share
of unemployment taxes. Workers, states and ethical employers all
stand to benefit." States must enact conforming legislation before
the end of 2005 that would prohibit companies from engaging in the
tax dodge while imposing penalties on violators and promoters.
Since most SUTA dumping occurs early in the calendar year, states
will save their unemployment trust funds from a final blow of SUTA
tax evasion if they act legislatively before the end of this year.
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. These
schemes have been promoted for years by accounting firms and other
unemployment compensation consultants. The practice reduces state
trust fund receipts and shifts a disproportionate share of the
unemployment compensation tax burden to more ethical employers.
Kelly Services began proposing SUTA legislation in 2002 and helped
bring the issue to the attention of policy makers. Congress passed
the SUTA Dumping Prevention Act in July with bipartisan support.
"Only if companies step forward to support fair taxes will they
have the credibility necessary when opposing bad ones," said
Camden. Kelly will monitor the progress of state legislation and
issue periodic updates via news releases. About Kelly Services
Kelly Services, Inc. (NASDAQ:KELYANASDAQ:KELYB) is a Fortune 500
company headquartered in Troy, Mich., offering staffing solutions
that include temporary staffing 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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