NEW IMMIGRATION REQUIREMENTS FOR FLORIDA EMPLOYERS Effective July 1, 2023, a new law recently approved by the Florida Legislature requires Florida businesses with 25 or more employees to use the E-verify system to verify that all new employees are eligible to work in the United States. E-verify is a US government database that allows employers […]
EMPLOYER PAYROLL TAX RESPONSIBILITIES This is a brief summary from the Internal Revenue Service (IRS) of an employer’s basic responsibilities regarding withholding, depositing, and reporting employment taxes. For New Employees: For All Employees Each Payday: Every Quarter: Every Year: For more information, please consult the IRS Publication 15 (Circular E), also called “Employer’s Tax Guide” […]
NEW IRS RULES WILL REQUIRE SMALL BUSINESSES TO FILE TAX FORMS ELECTRONICALLY IN 2024 The Internal Revenue Service (IRS) has released new regulations that will dramatically expand the number of businesses that are required to file electronically next year. Currently, all businesses are required to file certain tax forms every year for each of their […]
FLORIDA REEMPLOYMENT TAX RATES FOR 2023 NOW AVAILABLE Most Florida employers are required to pay Florida reemployment tax (it used to be called unemployment tax) to the State of Florida every quarter. This tax is assessed on the wages you pay your employees and is paid each quarter to the Florida Department of Revenue using […]
FLORIDA BUSINESSES: FILING PORTAL FOR 2023 ANNUAL REPORTS IS OPEN Florida corporations and limited liability companies (LLCs) must file an online update every year with the State of Florida to keep the company in active status. This update is called an Annual Report and is filed with the Florida Division of Corporations, the official corporate […]
NEW LAW REQUIRES SMALL BUSINESSES TO REMIT SALES TAX ELECTRONICALLY Effective January 1, 2023, if your business collected $5,000 or more in Florida sales tax last year, you will have to start filing your sales tax returns and remitting the collected sales tax electronically on the Florida Department of Revenue’s website. You will no longer […]
7 THINGS EMPLOYERS SHOULD DO AFTER HIRING AN EMPLOYEE 1. Get a W-4. This is a federal tax form that tells you how much federal income tax to withhold from an employee’s wages. The amount of federal withholding is based on marital status and withholding allowances, but your employees can specify a dollar amount to […]
If your business is a corporation or limited liability company (LLC) registered to do business in Florida, state law requires you to file a simple report every year with the state’s corporate registry to keep your company active. These reports are due to the Florida Division of Corporations by May 1st of each year. Reports filed after […]
The State of Florida offers free, one-hour webinars for employers on workers’ compensation requirements. Licensed contractors and electrical contractors can receive a continuing education credit for taking the online seminar. Topics covered include: Who is required to carry workers’ comp insurance in Florida How business owners can exempt out of workers’ comp in Florida Contractors’ […]
In FUBA’s role as the small business watchdog, we are urging our members to be cautious about mail or emails you might get about your company’s 2022 Annual Report. All corporations and limited liability companies (LLCs) operating in Florida must file an online update called an Annual Report every year with the State of Florida’s official […]