that exploited loopholes in the state unemployment tax acts (SUTA), has been effectively eliminated under a new law passed last year, Kelly Services Inc. COO Carl Camden told the committee June 14.
included $6.4 million for a federal tax refund and the associated interest. Even at $5 million in net income, this figure is above management's guidance range for net income of $3.6 million to $4.4 million
, and failed to pay workers for the minimum number of hours promised. It was seeking class action status.
The company anticipates an $8.8 million pre-tax charge in the third quarter of 2006 for the settlement
.8%) jobs last month. Accounting and bookkeeping experienced a large seasonal buildup for the tax season followed by even larger layoffs. The industry has lost 20,500 jobs since June 2002. After seasonal
, it owed the state $1.6 million for unpaid unemployment taxes. In addition, the trust fund must absorb $8 million in jobless benefits paid to former SES employees who became unemployed when the company
was $34.2 million or 55 cents per diluted share, including $20.6 million or 33 cents per diluted share from discontinued operations, primarily related to the recognition of a previously deferred tax benefit
in the United States, and they accounted for 89% of business tax returns, according to the FFI, which provides education and networking opportunities for family businesses. Also, 62% of the workforce is employed
unemployment taxes, which historically occur in the first few months of a new calendar year.
"The increase from the prior year was due to a slight improvement in the bill to pay rate spread, as well as more