Off the hard work of the participants of the WATS/TRSA Legislative Day in Madison, WI, the Wisconsin State Assembly Committee on Ways and Means passed AB 945 by a vote of 8 – 4. The legislation would add the Standard Industrial Codes (SIC) for the linen, uniform and facility services industry to the list of eligible industries to receive the Manufacturing and Agricultural Tax Credit (MATX), saving the industry thousands of dollars annually.
Members of TRSA and the Wisconsin Association of Textile Services (WATS) moved Assembly Bill 945 further down the track by recently participating in a hearing held by the Wisconsin State Assembly Committee on Ways and Means.
Members of TRSA and the Wisconsin Association of Textile Services (WATS) participated in a hearing held by the Committee of Universities and Revenue of the Wisconsin State Senate. The delegation consisting of Jim Leef, WATS chairman; Sara Gunderson, Gunderson Uniform & Linen Rental; and Jim Vaudreuil, Huebsch Services, testified in front of the committee in support of Senate Bill 845.
TRSA, in partnership with WATS, the Wisconsin Association of Textile Services, has held several meetings throughout the past year to push to get legislation introduced in Wisconsin that would allow the linen, uniform and facility services industry to utilize the state’s Manufacturing and Agricultural Tax Credit, thereby cutting the industry’s tax liability in half. The meetings made an impact, as a draft of the bill is now live in both houses of the Wisconsin State Legislature.
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.
