September/October 2010 Vol. 4 Issue 5
Don’t Miss…
Surf & Turf, p. 7
Chamber of Commerce J Convention and Visitors Bureau J Downtown Development
Also in this issue…
How will the Healthcare Bill’s 1099 Amendment Affect Your Business?
DON’T JUST SURVIVE- THRIVE! FROM THE PRESIDENT
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PARTNERSHIP GOES MOBILE
4
GREGG COUNTY DAYS IN AUSTIN
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TIME TO CLEAN UP LONGVIEW 6 SURF & TURF SILENT AND LIVE AUCTION
7
ELECTED OFFICIALS RECEPTION SET
8
Departments RIBBON-CUTTINGS
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Working on Your Behalf
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ANNIVERSARIES
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NEW MEMBERS
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CALENDAR
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re you challenged with the learning curve regarding the upcoming changes that the Health Care Reform bill will have on your business?
Here are a few points you need to know: 1. If you use a credit card to purchase products/services for your business you will not be required to file a 1099 to a company. For example, if you shop at Sam’s with your MasterCard you will not have to file a 1099 because you are not cutting a check to them. 2. You will be required to have EVERY vendor’s TIN # in order to cut them a "payment" check. If your company does NOT have a TIN # for a vendor you are required to withhold 28% of the bill in order to remit to at the end of the year to the IRS. This applies to cities/governments, too. There is major concern over this bill regarding identity theft because the self-
W
employed use their SSN as their EIN/TIN.
3. If a vendor provides you with the wrong TIN# your business is responsible for withholding the 28% until the correct vendor # is identified. YES, you are liable to the IRS for that 28%. We do NOT know how to confirm correct TIN #s at this time.
The Longview Partnership has been active in working to repeal the 1099 amendment by supporting HR 5141 and its companion bill S-3575. The Partnership has sponsored a letter writing campaign received by Senators John Cornyn and Kay Bailey Hutchison as well as Congressman Louie Gohmert. As opposition from the business community grew, so did the support on Capitol Hill for both measures. For the latest on HR 5141 and S-3575, go to www.longviewvotes.com.
GREGG COUNTY DAYS — AUSTIN
Advocating on behalf of our members is Job #1
Longview Progress Report is published by:
410 N. Center Street / Longview, TX 75601 903-237-4000 / www.longviewtx.com
hat’s your issue? Whether you are concerned with the budget, education, developing all energy sources, or even immigration, Gregg County Days is your chance to have your voice heard. It’s also important to note this year that the trip to Austin will come a little earlier. The bus headed to Austin will leave Longview the morning of February 28 and will return
March 1. Also new this year, some of our events will be done in conjunction with the Tyler delegation in order to truly represent the East Texas region.
Our first day at the Capitol will begin with a series of Legislative briefings. Attendees will have the opportunity to ask questions on the issues they face on a
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