NAPEO Endorses the Small Business Efficiency Act of 2011 (H.R. 2466)
Posted on 2011 by Greg Slamowitz
The National Association of Professional Employer Organizations (NAPEO), the national trade association for the PEO industry with approximately 350 PEO members operating in all 50 states, representing more than 90% of the industry's $68 billion in revenues, has endorsed HR 2466, the Small Business Efficiency Act of 2011. NAPEO's PEO members range in size from start-up PEOs to large, publicly held companies with years of success in the industry.
NAPEO stated: "Federal tax law has not kept pace with changes in human resource management and current law regarding the withholding and remitting of employment taxes is outdated, ill suited, and not easily applied to the PEO arrangement. Statutory clarity is needed to update the Internal Revenue Code regarding the rights and responsibilities of a PEO to withhold and remit employment taxes. Clarification of the PEO and small business client regarding tax responsibilities will improve compliance and provide certainty for the small business clients. The Small Business Efficiency Act (H.R. 2466) introduced by Congressmen Kevin Brady (R, TX) and Mike Thompson (D, CA), would clarify the rights and responsibilities of PEOs with regard to withholding and remitting payroll taxes and improve tax compliance. NAPEO has endorsed this legislation."
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About Greg Slamowitz
Greg Slamowitz (www.gregslamowitz.com) is an entrepreneur, investor, author and speaker. He was a co-founder and former Co-CEO of Ambrose Employer Group, LLC, a professional employer organization (PEO), which was ranked among Crain's New York's list of the 50 fastest growing companies and was also recognized by the New York State Society for Human Resource Management as one of the "Best Companies to Work For in New York." Greg co-founded Ambrose in 1997 with $95,000, never accepted outside funding, and sold Ambrose to Trinet (TNET) in July 2013 in a $200 million cash transaction. Greg has also invested in, and is on the board of, a number of early stage companies. Greg enjoys learning and teaching and has spent considerable time over the last several years meeting with entrepreneurs and business leaders and regularly presents his seminar, "Flip the Pyramid", around the United States. Read about Greg's presentation to the Morris (NJ) Tech Meetup. http://bit.ly/1rxbxB8 Greg's book titled "Flip the Pyramid: How Any Organization Can Create a Workforce That Is Engaged, Empowered, Aligned and On Fire!" is available on Amazon, Barnes & Noble and iTunes/iBooks. http://amzn.to/ZrNw8a Greg has also spent considerable time in Washington DC with members and staffers of the U.S. Senate and House of Representatives educated them about the challenges to and solutions for America's businesses. He was a board member and president of the his industry's trade association and founded and led its political action committee (PAC). Greg was instrumental in the passage of the Small Business Efficiency Act. http://bit.ly/1vprSd1 Greg is passionate about helping America's businesses focus on growth, profit, hiring and creating an awesome and healthy experience for each and every working American. Greg was the recipient of the 2001 Ernst & Young New York Entrepreneur of the Year® award in the employment services category. Greg also serves on the Dean's Advisory Board for Emory University's School of Law. Prior to co-founding Ambrose in 1997, Greg practiced tax law with Brown & Wood (now Sidley Austin Brown & Wood) in New York City. He holds two law degrees – a Master of Laws in Taxation from New York University School of Law, and a Juris Doctorate, with distinction, from Emory University School of Law in Atlanta. He received his undergraduate degree, cum laude, from New York University. Please visit Greg's website www.gregslamowitz.com, his LinkedIn Profile and Twitter @gregslamowitz His passions include developing highly functional organizations, engaged cultures, growth companies, health care and wellness, skiing and sailing (www.teammanitou.com)
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