Sowmya Aggarwal, vice president of taxation at Cintas Corp., Mason, OH, recently was named to the ‘Forty Under 40’ list for 2023 published by the Cincinnati Business Courier. Aggarwal is the youngest employee-partner to hold the VP of taxation position at Cintas, according to a news release.
In the next few days, the May issue of Textile Services will arrive in laundry operator in-boxes and homes. A key topic for this month’s issue concerns the upcoming Clean Show and what new tax breaks or restrictions the Internal Revenue Service (IRS) has implemented since the 2019 show in New Orleans. Last year’s Clean Show was canceled due to the COVID-19 pandemic.
The American Rescue Plan (ARP) of 2021 is now a reality. Signed by President Joe Biden (D) on March 11, the $1.9-trillion bill is mostly known for payments to individuals. But of critical concern to the owners, managers and shareholders of linen, uniform and facility services businesses, are provisions that include the Paycheck Protection Program (PPP), Emergency Injury Disaster Loan (EIDL) Program, Employee Retention Tax Credit (ERTC) and more.
The Emergency Coronavirus Relief Act of 2020 signed by President Donald J. Trump (R) on Dec. 27 opens the door to approximately $900 billion in COVID-19 aid. Among its general provisions, the bill temporarily (through 2022) extends the $300 charitable deduction for nonitemizers, includes various disaster tax-relief provisions as well as provides funding for unemployment benefits, direct-economic payments to individuals, vaccine distribution and rental assistance. Additional economic stimulus payments for individuals of $600 are already being distributed while lawmakers debate increasing the payout to $2,000.
Adding to the Families First Coronavirus Response Act (FFCRA) that became law on March 18, the Senate voted on March 26 and the next day, the U.S. House of Representatives approved the largest economic-relief bill in U.S. history, the Coronavirus Aid, Relief and Economic Security (CARES) Act. President Donald J. Trump quickly signed the final measure.
TRSA recently succeeded in getting legislative language – which TRSA members developed – added to Indiana H.B. 1065 as an amendment to clarify the Indiana Tax Code. This language would protect linen, uniform and facility services companies from having their rental textiles subject to property taxes, thus saving operators roughly $30,000-$40,000 per plant annually.
A group of 16 hotel laundry operators engaged in a lively, wide-ranging discussion of issues affecting their businesses on Feb. 3 in Las Vegas, the day before the formal kickoff of TRSA’s Feb. 4-5 Hospitality Conference at the Westin Las Vegas Hotel & Spa.
TRSA’s effort to reduce the tax burden on laundry operations in Texas, HB 1089, resoundingly passed the Texas State House of Representatives on April 24 by a vote of 139-4.
Due to the outreach of TRSA’s Texas members during last month’s Texas Legislative Conference, HB-1089, introduced by Rep. Drew Darby (R), passed the Texas House of Representatives Committee on Ways and Means unanimously with a bipartisan vote of 8-0. Three lawmakers were absent, but all have communicated to the Ways and Means Chairman Dustin Burrows (R), that they would have supported the legislation.
TRSA recently led the effort to kill AB-129, legislation introduced by California Assemblymember Richard Bloom (D-Santa Monica), just before it was to be heard by the Environmental Safety and Toxic Materials Committee in the California Assembly.
