TITLE SPONSOR ~ INVESTMENT OF $7,500 (1 ONLY) AS THE TITLE SPONSOR YOU WILL RECEIVE 2 TABLES OF 10 (6 SEATS FOR DIGNITARIES) WITH TABLE SIGNAGE, YOUR NAME WILL BE LISTED AS THE TITLE SPONSOR ON THE INVITATION, PUBLICATIONS AND ADVERTISING, A 10 MINUTE SPEAKING OPPORTUNITY AND ANNOUNCEMENT RECOGNITION AT THE MAYORS' LUNCHEON
EVENT SPONSOR ~ INVESTMENT OF $2,500 AS THE EVENT SPONSOR YOU WILL RECEIVE A TABLE OF 10 (4 SEATS FOR DIGNITARIES) WITH TABLE SIGNAGE, YOUR NAME LISTED ON THE INVITATION, IN PUBLICATIONS AND ANNOUNCEMENT RECOGNITION AT THE EVENT
EVENT BENEFACTOR ~ INVESTMENT OF $1,000 AS THE EVENT BENEFACTOR YOU WILL RECEIVE A TABLE OF 10 (1 SEAT FOR A DIGNITARY) WITH TABLE SIGNAGE, YOUR NAME WILL BE LISTED ON THE INVITATION, RECOGNITION AT THE EVENT
TABLE SPONSOR ~ INVESTMENT OF $500 AS A TABLE SPONSOR YOU WILL RECEIVE A TABLE FOR 8 WITH TABLE SIGNAGE AND RECOGNITION AT THE EVENT
SPECIAL FRIENDS ~ INVESTMENT OF $200 AS A SPECIAL FRIEND YOU WILL RECEIVE 2 SEATS AND RECOGNITION AT THE EVENT
July 23, 2010, VAN NUYS, CA. The United Chambers of Commerce has taken official positions on the following critical issues facing the San Fernando Valley, Los Angeles County and all of California.
1. Support - The Continuation of Tax Cuts on Capital Gains Taxes and Dividends: Currently in place, long term capital taxes are taxed at 15%. If Congress doesn't act before 2011 they will increase to 20%. The Jobs and Growth Tax Relief Reconciliation Act of 2003 also reduced the tax rates on dividends to 15%. If Congress doesn't act by 2011 dividends will no longer be taxed at 15% but instead at marginal income tax rates as high as 39.6%.
2.Support - Pension Reform (Governor Schwarzenegger) Roll back the expansion of pension benefits adopted in 1999, require a permanent 5% point increase in employee pre-tax contribution toward retirement benefits, calculate the retirement rate based on the average of the highest three years of wages during employment instead of the highest single year, require full disclosure by state pension funds and honest funding of pension promises as and when those promises were made (Governor Schwarzenegger pledges he will not sign a budget that does not include pension and budget reforms
We invite your comments and questions. Please direct your inquiries to: 818-981-4491 or email: marian@unitedchambers.org.
CAL CHAMBER CONFERENCE CALL RECAP FOR JULY 1, 2010
UCC OPPOSED SB 974 (Steinberg) Undermines Economic Development - Threatens California’s economy and economic recovery by effectively gutting the California Enterprise Zone (EZ) program hiring tax credit and in turn increasing employer taxes in order to fund a new education tax credit. There were enough votes to get killed but may become part of the budget deal
Budget Update: • No budget still and today is the first day of our fiscal year • This the 23rd time in 30 years a budget has not been in effect • Democrats met and don’t want to cut education, human services or layoff state workers • Attorney General Jerry Brown continues to say we cannot borrow to get out of this fix (Prop 58) • Candidate Jerry Brown (Gov) just wants cuts made now and he will restore once in office • Funds to run out in mid August, anything the controller is not required to pay, will give an IOU • The Governor continues to look at dropping state employees to minimum wage • The leadership in session must be available within 24 if a deal is struck, back on August 2
Prop 18 Water Bond: Governor would like to postpone and put on ballot in 2012, will be a Presidential year and would have a better chance of passing, if put up now it would probably lose. Since it may be postponed some asking for it to be rewritten, no legislative action will be decided until all are back in town Aug 2.
You are encouraged to go the Cal Chamber’s website www.calchamber.com to view the letters you can send to oppose / support these bills.
July 2, 2010, Sherman Oaks, CA. The United Chambers of Commerce has taken official positions on the following critical issues facing the San Fernando Valley, Los Angeles County and all of California.
1. Stop the Jobs Tax - this initiative is a giant step backwards for California's job recovery. This bill will tax new job creation sending more jobs out of California, tax small business owners and their employees out of business, stifle job growth in California's most promising industries and reduce long term revenues for schools and other public services.
Motion to support the opposition of the jobs tax initiative based on past positions taken by the United Chambers of Commerce of the San Fernando Valley.
2. The United Chambers will support Supervisor's Zev Yaroslavsky and Mike Antonovich in their efforts to compel the Federal Government to reimburse the State of California and the City of Los Angeles for the costs of the penal system incurred by illegal immigration.
We invite your comments and questions. Please direct your inquiries to the Executive Assistant of United Chambers of Commerce at: 818-981-4491 or email: marian@unitedchambers.org
Representing the United Chambers of Commerce at Supervisor Michael Antonovich’s Breakfast Meeting , Marian and I learned some important details about the County of Los Angeles’ fiscal status. The details were reported by Los Angeles County Chief Executive Officer, Bill Fujioka. • The County has eliminated 1,400 positions and has had no lay offs • Sales tax revenue has been down, slowly creeping up • Property Tax revenue has decreased, with refunds at a all time high • 44 other cities have contracts with L A County for services • Ongoing programs need ongoing revenue • Get back to basics Compared to the $23.606 billion 2009-2010 Adopted Budget, the Fiscal Year 2010-2011 Proposed Budget is $22.721 billion. Budgeted positions for the same periods decline from 101,113 to 99,739. A couple principles included in the budget making are using realistic revenue estimates, and maintenance of a Rainy Day Fund of 10% of locally generated revenues. In 20010-11 Los Angeles County is estimated to receive $1.264 billion less than in 2009-10. Based on the information provided, Los Angeles County is in much better fiscal shape than other large counties, the state of California, and many municipalities within Los Angeles County and neighboring counties. A significant reason for that is the retirement benefits in LA County. Safety employees in LA County earn retirement benefits at 2% a year at age 50, compared to 3% in six other counties and five large cities (including the City of LA). State of California CHP, firefighters, and other safety units also earn the benefits at 3% a year, for retirement at age 50. LA County general employees, retiring at 61, earn retirement benefits @ 2% a year. While such employees at six other counties either get 2% retiring at younger ages, or earn benefits at higher annual rates than 2%. Supervisor Antonovich said that LA County’s more responsible retirement programs are a result of the Supervisors having been in their positions for so many years (no term limits), therefore feeling more responsible for potential results of their decisions. Vic Viereck Government Affairs Chair United Chambers of Commerce of the San Fernando Valley
The new national Health Care Law includes a dramatic change in the IRS Form 1099 reporting requirements, effective January 1, 2012.
Prior to the change, businesses are required to file a Form 1099 for payments, made to independent (unincorporated) contractors, of $600.00 or more during a calendar year for services rendered. In order to fulfill the reporting requirement, the recipient must provide a completed Form W9, which includes the recipient’s name, address, and taxpayer ID number (TIN).
Effective January 1, 2012 payments (of $600.00 or more in a year) made for merchandise and to corporations will also be included. Whether the business purpose purchase is for an automobile, gasoline totaling more than $600.00 from the same oil company, plumbing, or business meals bought from the same restaurant (i.e. Tony Roma’s or McDonalds) during the year, they all will have to be reported on a Form 1099.
Obtaining the recipients’ W9 information might become a lot more complicated than currently. Since the rate of sales tax varies between states, and cities, determining the actual amount of sales will become considerably more difficult. Form 1099 recipients will feel compelled to summarize the totals of all 1099s received to verify accuracy.
The cost of the substantial increase in volume and complexity of reporting on Form 1099 could more than offset any additional revenue. While the cost of compliance will be excessive for business in general, it will particularly be quite oppressive on small business.
For the foregoing reasons, the United Chambers of Commerce of the San Fernando Valley strongly calls for the complete repeal of the new Form 1099 filing requirements as stated in the Health Care legislation.
Sincerely, The United Chambers of Commerce of the San Fernando Valley
GENERAL ASSEMBLY MEETING LUNCHEON TOPIC:HEALTHCARE REFORM
GUEST SPEAKER: JIM LOTT EXECUTIVE VICE PRESIDENT OF THE HOSPITAL ASSOCIATION OF SOUTHERN CALIFORNIA
A VERY SPECIAL THANK YOU TO OUR EVENT SPONSOR: WESTERN COMMERCIAL BANK (THE ART OF BUSINESS BANKING)
ON WEDNESDAY MAY 12, 2010 COME LEARN MORE ABOUT THIS IMPORTANT TOPIC THAT EVERYONE IS CONCERNED ABOUT. THIS IS GOING TO AFFECT ALL OF US IN ONE WAY OR ANOTHER SO COME HEAR WHAT THE REAL STORY IS.
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11:30 AM - 1:30 PM
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WE KNOW HOW BUSY EVERYONE IS THESE DAYS, THIS WILL BE A TWO LUNCH HOUR YOU WILL BE GLAD YOU TOOK.
