Business Owners – Be ADOR’s B.E.S.T.

Attend Montgomery-area State Tax Seminar on Oct. 19

 

MONTGOMERY, Oct. 5, 2017 – State tax obligations can sometimes confuse business owners. Licenses, sales tax, property tax, etc. – business owners are responsible for many details. To make that task easier, the Alabama Department of Revenue (ADOR) invites business owners to come learn the “B.E.S.T.” ways to handle state taxes at ADOR’s free Business Essentials for State Taxpayers Seminar on Thursday, Oct. 19, at 11 a.m. in Montgomery.

 

The seminar will be held at the Montgomery Taxpayer Service Center, 2545 Taylor Road.

 

ADOR specialists conduct B.E.S.T. Seminars, which include a brief but comprehensive overview of Alabama’s business taxes, the business owner’s tax obligations, and the forms that are required, as well as information on electronic filing and other requirements. Presenters cover a variety of state tax information topics, including employer withholding taxes, state and local sales taxes, property taxes, and business licensing requirements. The B.E.S.T. Seminars help new business owners navigate through unfamiliar tax complexities while updating current business owners on tax law changes.

 

Seminar attendees receive ADOR’s “Starting a New Business” guide and information about Alabama’s ONE SPOT, a free Internet filing and payment portal that allows business taxpayers to file and pay state, county, and city sales, use, and rental taxes all in one place!

 

While there is no charge to attend the B.E.S.T. Seminars, reservations are required to ensure adequate space is available. To make your reservation for the Montgomery B.E.S.T. Seminar, contact Amanda Turner at 334-242-2677.

 

For more information on B.E.S.T. Seminars and other B.E.S.T. resources, visit our website at https://www.revenue.alabama.gov/b-e-s-t/b-e-s-t-resources/. B.E.S.T. Seminars are two hours long plus additional time for questions and answers. Please plan to arrive at least 15 minutes prior to the scheduled seminar.

MONTGOMERY – Governor Kay Ivey recently signed into law Senate Bill 316, House Bill 242 and House Bill 390. All three bills, improve Alabama’s business climate by reducing regulation and by making it easier for small businesses to operate in the state.

“From day one, my quest has been to ensure the world knows Alabama is open for business. By removing burdensome regulations on small businesses we are sending that signal loud and clear,” Governor Ivey said. “When businesses spend less on overhead and government regulation, they can invest more in hiring; that’s good for all Alabamians.”

“I am thankful for the work of the legislature in passing these bills, especially the sponsors, Senator Sanford, Representative Garrett, and Representative Carns,” Ivey added.

“NFIB Alabama members appreciate Governor Ivey’s support of the small business legislation that was signed into law. Governor Ivey has always been a great supporter and champion for small business,” said Rosemary Elebash, Alabama State Director for the National Federation of Independent Business.

Senate Bill 316 protects small businesses which are licensed in one municipality or county from being forced to buy a license in a second location just to make deliveries to that area. House Bill 242 clarifies the state’s workers’ compensation law and makes it easier for small businesses to comply with the law. House Bill 390 protects franchise parent companies from law suits initiated against the organization’s franchisees, thereby allowing for the expansion of franchise opportunities in Alabama.

“My goal since entering the legislature in 2009 has always been to limit the size and scope of government, while also making Alabama a business-friendly sate. Senate Bill 316 accomplishes that on both fronts,” SB316 sponsor Senator Paul Sanford commented.

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To view the original press release, visit the newsroom of the Governor.

After supporting the American dream of freedom and prosperity through military service, millions of veterans choose to be their own boss and start a small business. It’s a good match, because soldiers’ skills are similar to those of successful entrepreneurs: their determination, willingness to take risks, and ability to handle stressful situations translate well to life as a business owner.

Like any new small business, most need some help to get started. Fittingly, there are many resources and benefits available specifically to help America’s veterans do that.

Read on for an overview of the veteran-owned business landscape, marketing opportunities, a breakdown of how to bid for government contracts, and other supports like educational programs, loans, and financing options for veteran-owned businesses.

By the Numbers: Veteran-Owned Businesses

Veteran-owned small businesses are an important part of the American economy. According to the latest U.S. Census data, veteran-owned businesses make up 7.5 percent of the country’s 5.4 million businesses with employees. And roughly 2.5 million veteran-owned businesses produce over $1.2 trillion in annual sales, have annual payroll of over $200 billion, and employ nearly six million people.

In 1999, the federal government passed the Veterans Entrepreneurship and Small Business Development Act. This legislation acknowledged that the United States had done too little to assist veterans who wanted to start and grow small businesses following their military service.

The legislation also set a goal that 3 percent or more of all federal contract dollars be awarded to service-disabled veteran-owned businesses (SDVOBs). This adds up to big money: In 2015, the federal government spent $13.8 billion, or nearly 4 percent of federal contracting dollars, with SDVOBs.

California, Texas, Florida, New York, and Georgia have the most veteran-owned companies, but state governments vary in their commitments to veteran-owned businesses (though most have some sort of preference, or set-aside legislation).

Most veteran-owned businesses are small businesses employing fewer than 15 people, and veterans are more likely than non-veterans to be business owners (13.2 percent of veterans are self-employed, compared to 12.3 percent of non-veterans).

Related: Military Service Creates Solid Business Owners

Veteran-Owned Business Defined

While a veteran-owned business sounds self-explanatory (and in general terms, it is), when it comes to the government’s formal definitions and guidelines for government contract eligibility through the U.S. Department of Veterans Affairs (VA), the rules are very specific.

There are two categories: Veteran-Owned Small Business (VOSB), and Service-Disabled Veteran-Owned Small Businesses (SDVOSB). To qualify as a VOSB, you must own at least 51 percent of your company and be responsible for management of day-to-day operations and strategic decisions. You’ll also need a Department of Defense Form 214 to verify veteran status. To qualify as a SDVOSB, you’ll need a disability status letter from the VA Benefits Office confirming your status as service-disabled.

Use the VA’s Office of Small & Disadvantaged Business Utilization website to register and verify your business. A quick list of resources is also available for preparing to do business with the VA, including procurement readiness, corporate partnerships, and veteran franchising opportunities. Government contracting advice is also available from the U.S. Small Business Association (SBA).

Aside from being able to bid on government contracts, registration has other benefits, like potential tax relief, improved access to capital (more on this below), counseling, start-up support, and displaying the SDVOSB or VOSB logo, which shows customers that your business is veteran-owned.

While the bidding for government contracts can be attractive, many businesses aren’t big enough to contend, or simply choose not to, because being a veteran and owning a business has several other inherent advantages.

Related: Is Your State Vetrepeneur Friendly?

Veteran-Focused Resources & Financing

All new businesses need help at some point to get started, and there are several resources and financing options available specifically to help those that served.

The SBA’s Boots to Business is a free education and training program for service members seeking to become entrepreneurs. The two-day course is taught at over 165 military installations worldwide, and active duty military members as well as their partners and spouses are eligible.

For veterans looking for help with financing a new business, a Patriot Express loan can mean a much faster path to ownership. They get former military personnel up and running quickly with business loans specifically for veterans.

The emphasis here is the speed at which veterans can find financing at competitive rates to get off the ground, compared to regular business owners. SBA-approved lenders give preference for helping veterans, but like any business loan, it’s important to be prepared with collateral, proper financial records, a solid business plan, and an understanding of what the loan can and can’t be used for.

Patriot Express loans cap at $500,000, and funds can be used for operational expenses, to purchase inventory, or for short-term working capital. For a full list of resources for veteran-owned businesses, including the Patriot Express program, visit the SBA’s VOB site or contact the Veteran’s Business Outreach Center.

Related: Best Small-Business Loans for Veterans 2017

Veteran-Owned Business Advantages

In addition to an edge in winning government contracts, veteran-owned business have an edge winning business from large corporations and the average American consumer.

Veterans defended our nation’s freedoms and prosperity by serving in the armed forces, and then made the choice to start their own business following their service. It should come as no surprise that America wants to buy from veterans, and the numbers back this up.

According to the National Veteran-Owned Business Association (NaVOBA), almost 15 percent of FORTUNE® 1000 companies aim to include veteran-owned businesses in their supply chains as part of their supplier diversity programs.

Related: Checklist for Corporate Contracting

Studies also show that 70 percent of Americans would rather buy from a veteran-owned business than from one that is not. Veteran-owned business can also be listed in NaVOBA’s VetBiz Directory, a database that highlights new businesses and allows visitors to search by location and a wide array of industries and sectors.

Supporting the entrepreneurial dreams of America’s veterans has also been part of the National Federation of Independent Business’ (NFIB) mission since its founding in 1943. Wilson Harder, NFIB’s founder, knew that soldiers returning from Europe and the Pacific had the drive and determination that would help them find success in business.

NFIB defends the right of small business owners to own and operate their businesses without undue government interference. Many NFIB state offices work directly with local and state representatives to offer veteran-owned business decals to recognize the men and women who served our country and own businesses in local communities, and offer a wide variety of member-exclusive benefits, business products, and services.

Related: Learn More About NFIB in Your State

For more information on how the NFIB promotes and protects the rights of more than 325,000 members to run their businesses, find your local NFIB or learn more about NFIB membership perks and savings.

For the original article, click here.

MONTGOMERY, Sept. 28, 2016 — Beginning Oct. 1, Alabama businesses will be able to report equipment, tools,
machinery and other business personal property through the Optional Personal Property Assessment Link (OPPAL)
online system.

OPPAL is an optional, free, reporting-only portal. The electronically filed return will contain all information included
in the standard paper tax return. There is no charge to the taxpayer for utilizing this service. The OPPAL Web portal
will be available to accept taxpayer information from Oct. 1 of each year until the following Jan. 31.

OPPAL was designed per the requirements of Section 40-7-56, Code of Alabama, 1975, that states the Department of
Revenue will develop, maintain and administer an online business personal property tax filing system to allow any
taxpayer required to file a business personal property tax return with any county assessing official or applicable agency
the ability and option to file the return electronically.

“We are always looking for better and more efficient ways businesses can interact with state and local governments.

OPPAL provides that and I’m appreciative for the support of those who helped build it, especially the OPPAL Advisory
Council made up of representatives from county governments and the business community,” said Revenue
Commissioner Julie P. Magee.

For more information on OPPAL, visit http://oppal.alabama.gov/.

For the original ADOR press release, click here.

Business Owners – Be ADOR’s B.E.S.T.

Attend Auburn-Opelika State Tax Seminar on Oct. 12

AUBURN, Sept. 28, 2016 – State tax obligations can sometimes confuse business owners. Licenses,
sales tax, property tax, etc. – business owners are responsible for many details. To make that task easier,
the Alabama Department of Revenue (ADOR) invites business owners to come learn the “B.E.S.T.”
ways to handle state taxes at ADOR’s free Business Essentials for State Taxpayers Seminar on
Wednesday, Oct. 12, at 2 p.m. in Auburn.

The seminar will be held at the Harris Senior Center, 425 Perry Street.
ADOR specialists conduct B.E.S.T. Seminars, which include a brief but comprehensive overview of
Alabama’s business taxes, the business owner’s tax obligations, and the forms that are required, as well
as information on electronic filing and other requirements. Presenters cover a variety of state tax
information topics, including employer withholding taxes, state and local sales taxes, property taxes, and
business licensing requirements. The B.E.S.T. Seminars help new business owners navigate through
unfamiliar tax complexities while updating current business owners on tax law changes.

Seminar attendees receive ADOR’s “Starting a New Business” guide and information about Alabama’s
ONE SPOT, a free Internet filing and payment portal that allows business taxpayers to file and pay state,
county, and city sales, use, and rental taxes all in one place!

While there is no charge to attend the B.E.S.T. Seminars, reservations are required to ensure adequate
space is available. To make your reservation for the Auburn/Opelika B.E.S.T. Seminar, contact Marcia
Sanders at 334-887-9549, ext. 221.

For more information on B.E.S.T. Seminars and other B.E.S.T. resources, visit our website at
http://www.revenue.alabama.gov/taxpayerassist/workshop.cfm. B.E.S.T. Seminars are two hours long
plus additional time for questions and answers. Please plan to arrive at least 15 minutes prior to the
scheduled seminar.

For the original press release, click here.

Alabama Secretary of State

Press Release

Helping Businesses in Alabama

MONTGOMERY – Under the direction of Secretary John Merrill the Secretary of State’s Office has worked to more expeditiously process the large volume of business filings coming in from throughout Alabama. This new process will better serve Alabama’s businesses and strengthen business development in the state.

“During my time working to earn the People of Alabama’s trust to serve as their 53rd Secretary of State, I was made aware that when someone wanted to form a new business in the state, it would take 5 to 7 months or longer from the time the Secretary of State’s Office received certain business filings for them to be placed in the online state business filings database available to the public, banks and the business community. After a period of better understanding the process, it became apparent that a dramatic restructuring, including new leadership as well as the establishment of certain financial controls and employee accountability measures, was necessary to end this continuous cycle of failing to meet the highest expectations of service to business in Alabama,” Secretary Merrill said.

Following completion of Secretary Merrill’s internal restructuring efforts, the waiting period for filings to be completed dropped and, for the past two months of July and August, recently reached for the first time the goal of completely handling from start to finish the processing of the incoming filings to no later than the next business day.

“Once our team met this new and high standard they were then reminded that we may have tied the game but the clock is still ticking. I have instructed our team to communicate with each other at the end of each week and the beginning of the succeeding week to ensure that we stay on track,” Merrill said.

Secretary Merrill continually emphasizes to the staff that it is our duty as public servants to be a resource to new and existing businesses. Resolving this issue is one of many changes made by Secretary Merrill during his administration.

Eugene Overstreet is the owner of Street’s Restaurant and Street’s Seafood and Meat Market in Bay Minette. He is a Vietnam veteran and a member of the two veteran service organizations in Bay Minette. He regularly supports, donates to, and sponsors veteran events, veterans, and their families and the community. ADOL’s Nicholas Bowen makes the presentation of the official VOB letter and decal.

Bob Harry is a retired disabled Army veteran and the owner of Aabon Home Health Care Supply in Ozark. ADOL’s Larry Vaughn makes the presentation of the official VOB letter and decal.

Wiley McWhorter is a retired disabled veteran and the owner of Wiley’s Smuteye Grill in Banks. ADOL’s Dan Perkins makes the presentation of the official VOB letter and decal.

Justin Garner is a veteran and owner of Garner Technologies in Dothan. He started the business two years ago. As of now, he has two employees and of them is also a veteran. He also plans on hiring someone with sales experience in the future. ADOL’s Larry Vaughn makes the presentation of the official VOB letter and decal.

Come Dec. 1, business owners across Alabama and nationwide will be paying higher labor costs as a result of the Department of Labor’s new overtime rule. The DOL estimates the regulation will impact more than 60,000 workers in Alabama.

The rule will raise the threshold at which employees are exempt from earning overtime pay—from $23,660 to $47,476. The Fair Labor Standards Act dictates that employees are not eligible for overtime pay if they are compensated at a minimum wage level (now $47,476), if they are paid on a salaried basis, and if they perform duties considered professional, administrative, or executive in nature. Now, under the new rule, the minimum wage level triggering overtime exemption is nearly double the old rate.

NFIB has spoken at length to the media about the harmful impact of this ruling, including decreased staff morale stemming from employment status changes, reduced hours, and falling pay rates. Rosemary Elebash, NFIB/Alabama state director, says the Department of Labor’s new overtime rule is going to hurt small businesses throughout Alabama.

“It’s going to mean higher costs for employers, and that’s going to force them to make some tough decisions when it comes to staffing,” she said. “On top of that, you’re going to see some salaried positions disappear and some workers slide back to hourly jobs. In other words, these new rules are going to hurt the very people officials say they’re trying to help.”

For businesses that operate on calendar year budgets, this unplanned mandate for increased labor costs in the final month of 2016 complicates matters. The Birmingham Business Journal spoke to several Birmingham employment law experts, who advised employers to begin planning and budgeting now, evaluating the job responsibilities and the hours worked for those who will no longer be exempt.

One small item of relief: Bonuses, incentive pay, and commissions can account for up to 10 percent of the salary threshold if the payments are made on a quarterly basis. However, the exemption level will continue to rise, tied to inflation, every three years, beginning on Jan. 1, 2020.

For more information, please visit NFIB.com/Overtime.

For the original article, click here.

MOBILE, AL (WALA) –
FOX10 News is committed to tracking the growth of our local economy.

The City of Mobile has started a new program where Mayor Sandy Stimpson will meet with small business owners to discuss the challenges they face.

Small business owners and others attended a Mobile Area Chamber of Commerce event Tuesday morning listening to the latest developments at the Mobile Aeroplex at Brookley.

Mayor Stimpson has announced he would like to meet with small business owners in a new initiative called Meet Mobile.

The purpose?

Laura Byrne with the City of Mobile said it’s to “find the best way to address their needs. Every small business owner has different needs, different challenges that they face every day, and we have that conversation to figure out what those are and how we can better serve them as a city.”

What would small business owners say to Mayor Stimpson?

David Calametti, who owns Alabama Coasting, said, “It’s difficult to build in this town. It’s difficult to understand what the rules are because they seem to often change when you’re opening a new restaurant or new business

The owner of Elegant Knights Limo and Party Bus and says she would discuss transportation issues.

Mary Taylor said that would be “getting around and to have more exposure.”

But not everyone has a laundry list of issues.

Sam St. John with Logical Computer Solutions said, “Things have been really going great for us. As you know, the City of Mobile is growing rapidly.”

Glenda Snodgrass with the The Net Effect said, “I think we’re definitely going in the right direction. Things are looking up.”

Byrne says there’s already been good response to the program and meeting schedules are being drawn up.

For the original article, click here.

Out-of-state perception of workforce quality and living environment shows room for improvement.

More than 500 CEOs across the country took part in Chief Executive magazine’s annual “Best and Worst States for Business” survey, and Alabama ranked just above the middle of the pack at No. 20. However, there were discrepancies between out-of-state CEOs and those who operate businesses located in Alabama.

Across the board, the CEOs surveyed had a generally positive view of the state’s business-friendliness, but non-Alabama CEOs tended to have a less positive impression of the workforce and living environment. Forrest Wright, president of the Economic Development Authority for the Shoals area, told the Associated Press this was a common perception that recruiters fight to overcome in discussions and that some parts of the state do better than others. But when prospective industries listen to presentations about Alabama’s business climate with an open mind, he said, it’s easier to show them that the state is a good place to locate a company.

The survey focused on three factors—taxes and regulation, workforce quality, and living environment—all of which incorporated several variables:

• Taxes and regulation included state income tax, corporate tax rates, perceived attitude government has toward business, employment rates, environmental compliance regulations, and tax incentives.
• Workforce quality included employee-management relationships, work ethic, education level, wage rates, and availability of workers with specialized experience and education.
• Living environment included crime rate, quality of education and healthcare, cost of real estate, transportation access, and arts and cultural institutions.

Alabama ranked No. 17 in taxes and regulation, No. 33 in workforce quality, and No. 33 in living environment. Its overall No. 20 ranking was up from last year’s ranking of No. 24, but down from No. 17 in 2014 and No. 16 in 2013.

Click here for the original article.