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Tanning Bed Tax Details Issued by IRS
The IRS recently released guidance on the 10 percent excise tax on indoor tanning services levied by the Health Care Act. IR 2010-073 provides detail on the method of payment, and certain exceptions for the excise tax.
Payment
Generally, the tax will be collected from patrons at the time of purchase and paid quarterly to the IRS. Businesses should attached the payment with their Form 720 Quarterly Federal Excise Tax Return.
Exceptions
Phototherapy conducted on premises by a licensed medical professional will not be subject to the tax.
EU expected to face WTO criticism in Airbus dispute
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A World Trade Organisation report on aid for European planemaker Airbus, is today expected to condemn the European Union for illegal subsidies.
The 1,000-page report was issued confidentially to the European Union and United States in March, and sources familiar with it said at the time a panel of WTO experts found some payments challenged by the United States were prohibited export subsidies and must be stopped within 90 days.
They said the document, the latest stage in a decades-long transatlantic dispute over the multi-trillion-dollar market for large passenger aircraft, would back many of the US complaints.
Airbus rival Boeing hopes the report on Airbus will stop the EU from subsidising the new A350 plane, which will compete with the US company’s 787 Dreamliner.
The European aircraft manufacturer builds the wings for all its airliners at its Broughton aerospace complex, Flintshire.
Work on a new factory for A350 wing assembly, backed with £340m of loans from the UK’s Coalition Government, is nearing completion on the Welsh site.
Boeing and Airbus parent EADS are competing for a near £30bn contract to supply the US Air Force with new airborne refuelling tankers. The
Building Business Credit Video: Key Decisions That Make an Impact
Building Business Credit Video
Watch my short video recording with AllBusiness covering the following question:
What are some of the key decisions you need to make before you start building business credit?
- Business name selection
- Business SIC Codes and NAICS Code Classification
- Business Information
- Financial Disclosure
- Corporate Conformity
What type of key decisions have you made when building business credit for your company?
Are you ready to start building business credit? Become
Anthem Blue Cross again seeks rate hikes for Californians
Embattled health insurer Anthem Blue Cross is reviving its plan to raise rates for tens of thousands of California policyholders, some of whom could see their premiums rise as much as 20%.
The expected increases, announced Wednesday, are significantly lower than those proposed earlier this year when Anthem became a national lightening rod for consumer outrage over skyrocketing healthcare costs and insurance company profits.
Anthem, California’s largest for-profit insurer, had sought premium increases as high as 39% for many individual policyholders, provoking fury from consumer groups, lawmakers and even President Obama.
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Liverpool Chinese Business Association reaches out to city with launch of new networking initiative
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A NEW era of business collaboration between Liverpool’s Chinese community and the city was launched last night.
Liverpool Chinese Business Association (LCBA) officially unveiled its pioneering Liverpool Chinese Business Network (LCBN) in association with the city council and private sector supporters, including law firm Kirwans.
The association’s Alan Seatwo, addressing almost 100 guests at the launch in Berry Street’s China Palace Restaurant, explained: “The potential collaboration and partnership opportunities among Chinese and non- Chinese businesses will be particularly useful, especially important under political and financial challenges ahead.”
He said it was fitting in the year of Liverpool’s involvement in the Shanghai Expo that Europe’s oldest Chinese community should introduce a new forum to further strengthen the relationships built over many years.
Network manager Colin Ling added: “Our aim is to help grow profitable relationships between Chinese and non-Chinese enterprises and assist businesses who wish to trade with China by providing a friendly, accessible environment.
“Our network events will be designed to allow people to get to know one another, our motto is ‘Let’s first become friends then do business’.”
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Tourists are playing hit or miss with spill on Panhandle beaches
The St. Louis couple were married at the beach on Tuesday — the day before BP’s Gulf oil spill blackened the local shoreline. During the ceremony, she cried. He cried. Everybody cried.
“It’s just a hit-or-miss thing,” Lindsey said. “If I had picked Wednesday instead of Tuesday, I’d have been pretty upset.”
Audrey and Philippe Cornu were not so lucky.
They arrived in Pensacola for a class reunion on Thursday — the day after local beaches were closed for swimming.
“What a disaster,” Audrey said. “What a welcome home. I’m 48 years old and I’ve never seen double red flags at the beach.”
Health advisories suggesting people shouldn’t swim or fish are posted for 33 miles of Florida Panhandle beaches stretching from the Florida/Alabama border through Pensacola Beach and a six-mile stretch of beaches in the Walton County area near the popular tourist spot of Destin.
Pensacola Beach is the farthest east that a Florida beach has been closed because of oil.
Business Debit Card: More Than a Checkbook and Better Than an ATM Card
Business Debit Card
Opening a small business bank account is a vital part of running a business. I’m sure you’re familiar with online banking and overdraft protection but let’s cover the key advantages of the business debit card also known as the business check card.
While checkbooks will always play a part in your business the faster and more convenient way to make company purchases, track expenses, and manage finances is with a business debit card. 
This card works like your business checkbook and each time you use the card to make a purchase the amount of the purchase is deducted right from your account. Basically the limit on your business debit card is the amount of funds you currently have available in your business checking account.
Now keep in mind some banks will provide overdraft protection and may even offer an unsecured business credit card that you can link to your account. This c
FACT Act Furnisher Rules Go In Effect on July 1st: Are you ready?
Last year the FTC and federal banking agencies passed the Fair and Accurate Credit Transactions Act Furnisher Rules which imposes major new responsibilities for lenders, servicers, collectors and other financial institutions that report information to credit bureaus like Transunion, Equifax and Experian.
On July 1st, 2010 these new rules go into effect and needless to say they are long overdue. Here’s a quick overview of what it consists of:
Accuracy and Integrity Rule
This new rule requires that all companies who supply data to consumer credit bureaus must establish written policies regarding the accuracy and integrity of data it furnishes to the credit bureaus.
In particular I am happy to see that finally the issue of ‘integrity’ of information is being addressed. For far too long consumers have had specific information like credit limits absent from their files. When s