Minority-Owned Businesses Remained Resilient During Recession
WASHINGTON, D.C. –Today’s issue brief, Minority Business Ownership: Data from the 2012 Survey of Business Owners by Regulatory Economist Michael McManus, analyzes the data collected from minority business owners through the Census 2012 Survey of Business Owners. After taking a closer look at the five years enveloping the economic recession, McManus discovered that minority-owned businesses helped keep the US economy alive despite traditional setbacks.
On September 19, 2016, the Animal & Plant Health Inspection Service (APHIS) extended the public comment period by 30 days for its proposed rule, “Horse Protection; Licensing of Designated Qualified Persons and Other Amendments.” The proposed rule would transfer responsibility for training, licensing, and monitoring third-party, independent inspectors (known as “Designated Qualified Persons” or DQPs) to APHIS and would create additional licensing eligibility requirements for DQPs.
On August 24, 2016, the National Oceanic and Atmospheric Administration (NOAA) has proposed a regulation under the Marine Mammal Protection Act (MMPA) to prohibit swimming with and approaching Hawaiian spinner dolphins within 50 yards. The proposed rule would apply to activities within 2 nautical miles (nm) of the Hawaiian Islands and in the waters between the islands of Lanai, Maui, and Kahoolawe. In addition, the proposed rule would prohibit approach by interception.
The United States Citizenship and Immigration Services (USCIS) is proposing a new rule which would allow international entrepreneurs to be considered for parole or temporary permission to be in the United States. Entrepreneurs may be granted an initial stay of two years, and seek a subsequent request for re-parole for up to three additional years. USCIS welcomes public comment on the numbers and types of small businesses that may be impacted by this rule, the compliance costs of this rule, and any potential alternatives that may minimize the compliance costs of this rule.
On July 13, 2016, the Securities and Exchange Commission (SEC) issued a proposed rule that would update and simplify the agency’s disclosure requirements. The SEC’s objective is to eliminate redundant, overlapping, outdated, or superseded provisions in light of changes to SEC disclosure requirements, US Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), and technology. In addition, the SEC is seeking comment on certain disclosure requirements that overlap with US GAAP to determine whether to retain, modify, eliminate, or refer the requirem
On August 4, 2016, the Internal Revenue Service (IRS) issued a proposed rule relating to the valuation of interests in corporations and partnerships for estate, gift, and generation-skipping transfer tax purposes and the treatment of lapsing rights and restrictions on liquidation in determining the value of transferred interests under Internal Revenue Code section 2704. The rule would affect how taxpayers estimate the fair market value of assets for estate and gift tax purposes.
APHIS Proposes Amendments to Horse Protection Regulations
On July 21, 2016, the Department of Labor (DOL) issued proposed rules to update the Form 5500 Annual Return/Report.
Payday, Vehicle Title, and Certain High-Cost Installment Loans