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BPAA Biweekly State Policy Updates - October 18, 2019

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LABOR & MINIMUM WAGE

  • Arizona Has The Highest Minimum Wage In The Country, Once Adjusted For Cost Of Living. How Does Your State Stack Up? The push to increase the federal minimum wage is receiving renewed attention as presidential candidates see it as a lever to combat income inequality. In truth, several states already have minimum wages which are higher than the federal minimum wage of $7.25. California, for example, has a state-wide minimum wage of $12.00. However, to understand the actual impact the minimum wage will have on the standard of living for the residents in a state (and their ability to save for retirement), we have to dig a bit deeper than simply taking the numbers at face value. After all, the implications of wage rates can make the difference between being able purchase a home or having to rent forever. Read more at Forbes.

 

  • Occupational Licensing Hurting West Virginia’s Economy: West Virginia’s labor market is consistently one of the weakest in the country. In August 2019, West Virginia’s labor force participation (LFP) rate was 54.9%, the lowest of any state, and its unemployment rate was the sixth highest in the nation at 4.6%. Several factors affect a state’s labor market, including government regulation, and two new studies suggest that occupational licensing in West Virginia is hindering the state’s labor market. Read the full article at Forbes.

 

TAX

  • Pennsylvania: The number of corporations filing state tax returns in Pennsylvania is expected to expand due to the state’s adoption of the economic nexus standard under the Wayfair internet sales tax case. Starting in 2020, corporations with no physical presence, but at least $500,000 in sales, will be required to file a Pennsylvania corporate net income tax return.

 

  • Colorado: A campaign to keep TABOR refunds to invest in better roads, schools, and bridges in Colorado launched this week. The stakes of the campaign are high as a test case for more substantive reforms in the future.

 

SMALL BUSINESS

  • Tackling Employment Issues in Family-Run Businesses: Families are complicated, and so are employment decisions for family-run businesses. Mintz attorney Jen Rubin outlines guidelines for hiring, lines of reporting, and noncompete terms in family-run companies and stresses the importance of documentation and process. Read the full article attached.

 

  • These companies laid off Massachusetts workers in 2019: Massachusetts may be experiencing a low unemployment rate and a tight job market, but there are exceptions across the Bay State. At 2.9 percent unemployment, a rate based on a monthly sample of households, the state “continues to experience strong job growth with an unemployment rate which has been at or below 3 percent for seven consecutive months,” Rosalin Acosta, labor chief for Gov. Charlie Baker, said in a statement announcing preliminary August job numbers in September. The numbers showed that job gains came in education and health services, a sector that has added 12,600 jobs over the year, while professional, scientific and business services added 8,900 jobs, Acosta said. Read more at the Boston Business Journal.
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Attachments

  1. TacklingEmploymentIssuesinFamily-RunBusinesses.pdf 11/4/2019 9:34:17 AM