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
are going unpaid in employee taxes.
... are going unpaid in employee taxes.
While classifying workers as independent contractors rather than putting them on payrolls may seem attractive from a financial standpoint, doing so illegally can