An Update from the State House
Welcome to the first edition of Under the Dome 2017!
On January 3, 2017, the legislature began its new year. In the coming weeks, legislation will be filed, hearings will be held and the Chamber may ask you to contact your legislators when the need arises. If you haven’t done so already, please go to the Rhode Island Secretary of State’s web page, https://vote.sos.ri.gov/ and enter your information as requested (if you live in Rhode Island), so that you will know who represents you as a State Representative and a State Senator. Thank you for your help!
Awaiting Committee Assignments – Neither the House nor the Senate has announced any committee membership lists at this time. Those assignments are expected to be made soon.
The calendar for 2017 has been released. The key dates to keep in mind are:
Opening Day January 3, 2017
Last Day for Public Bill Introduction February 16, 2017
Winter Break February 20-24, 2017
Spring Recess April 17-21, 2017
The following bills were filed last Thursday and Friday.
House Resolution No. 5015, HOUSE RESOLUTION EXTENDING THE EXPIRATION AND REPORTING DATES OF THE SPECIAL LEGISLATIVE COMMISSION TO STUDY METHODS FOR GROWING TOURISM IN THE STATE OF RHODE ISLAND THROUGH COORDINATED BRANDING AND MARKETING EFFORTS (Extending the reporting and expiration dates of the House Commission to study the methods for growing tourism in Rhode Island to May 15, 2017 and expiring on August 15, 2017.)
House Bill No. 5021, AN ACT RELATING TO TAXATION - BUSINESS CORPORATION TAX (Exempts a corporation from the minimum corporate tax for the first three years following the date of incorporation.)
House Bill No. 5022, AN ACT RELATING TO TAXATION - SALES AND USE TAXES - LIABILITY AND COMPUTATION (Creates a sales tax holiday for the days of August 12, 2017 and August 13, 2017 and no excise or sales taxes would be collected on non-business sales of tangible personal property with certain exceptions.)
House Bill No. 5024, AN ACT RELATING TO TAXATION -- PERSONAL INCOME TAX (Increases the exemption of social security income from state income tax from $15,000 to $30,000 commencing in 2018.)
House Bill No. 5029, AN ACT RELATING TO TAXATION (Provides that corporations with less than fifty (50) employees shall not be subject to the four hundred fifty dollar ($450) minimum corporate tax.)
House Bill No. 5041, AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- CONTROL OF ILLEGAL IMMIGRATION (Codifies into law Carcieri's "Illegal Immigration Control Order" which would require the DOA to order the dept to utilize the E-Verify progress to verify the employment eligibility of new hires & businesses doing business for the department.)
As we kick off the new year with the best of intentions to make 2017 the best one yet, don't forget to make some resolutions for your business. Whether it is to increase sales, learn how to market your business better with social media tools, or grow staff and production by 10%, etc., having goals is a proven methodology to improving overall health and success of your business. The end of the year is a good time to reflect on the progress that was made in the last year, and the beginning of the year should be about strategically planning for your company's growth and increased success.
A simple google search of "Business Resolutions" will bring up tons of ideas for strengthening and refining your goals for your business. One great article published by Intuit Quickbooks summarized the more common New Year's resolutions for small businesses in 2016:
Resolve to Re-Evaluate Your Mission Statement and Overall Goals
Resolve to Ask for-and Listen to-Feedback
Resolve to Refresh Your Social Media and Marketing Strategies
Resolve to Enhance Your Technology Footprint
Resolve to Plan Ahead
Resolve to Take a Breath and Nourish Your Mind and Body
Resolve to Learn One New Thing
Resolve to Achieve a Bit of Balance
The full article can be found here. Some other articles discuss more specific goals for particular businesses and industries.
The most important thing to remember is the process of establishing your resolutions is what will be the key. Outlining goals and strategizing for your business' growth and success will help guide your business practices and decisions throughout the year. Sticking to your resolutions will be that much easier!
Happy New Year!