Posts Tagged ‘Department of Labor’

Connecticut Joins Pact on Employee Misclassification Initiative

The misclassification of employees as independent contractors, presents a serious issue for affected employees, employers, and to the economy. Misclassified employees are often denied access to critical benefits and protections such as family and medical leave, overtime, minimum wage and unemployment insurance. Employee misclassification as independent contractors, also generates substantial losses to the Treasury and the Social Security and Medicare funds, as well as to state unemployment insurance and workers compensation funds.

The Difference Between an LLC and a Subchapter S Corporation

Startup businesses are often considering either a Limited Liability Company ("LLC") or a Subchapter S Corporation.  Here are the differences:

Connecticut Unemployment Fund to Assess Employers

Unemployment Insurance benefits are financed by employers through the payment of taxes. Because of the severe economic recession, unemployment has risen to a current level of 9.1% nationally. In October of 2009, Connecticut’s Unemployment Trust Fund became insolvent and in order to continue to pay claims the state has had to borrow from the United States Department of Labor. These borrowings have been interest free through 2010 due to the American Recovery and Reinvestment Act of 2009, which waived … Continue reading »