Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment...
-
Upload
beverly-chambers -
Category
Documents
-
view
217 -
download
0
Transcript of Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment...
![Page 1: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/1.jpg)
Legal Aspects of BusinessTaxes, Laws, and Acts
![Page 2: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/2.jpg)
Federal Unemployment Tax Act
• Provides unemployment compensation for people who’ve lost their jobs
• Payroll tax
• Paid by employers on employee wages
![Page 3: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/3.jpg)
Securities and Exchange Commission
• Regulates securities and protects investors
![Page 4: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/4.jpg)
Federal Communications Commission
• Regulates radio, TV, wire, satellite communications
• Both within and out of the U.S.
![Page 5: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/5.jpg)
Sherman Act
• Anti monopoly
• Eliminates merging of companies
![Page 6: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/6.jpg)
Federal Trade Commission
• Protects against false advertisement and restricts unfair competition
![Page 7: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/7.jpg)
TaxesProportional, Regressive, Progressive
• Proportional-same percentage for all classes
• Regressive-higher income pay lower percentage taxes, lower income pays higher taxes
• Progressive- higher income pays higher taxes
![Page 8: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/8.jpg)
Internal Revenue Service
• Tax collection and enforcement
![Page 9: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/9.jpg)
Food & Drug Administration
• Regulates food and medication to assure safety
![Page 10: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/10.jpg)
Age Discrimination Act in Employment Act
• Prohibits employee discrimination from ages 40-70
![Page 11: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/11.jpg)
Licensing, Public Franchise, Building Codes, Zoning
• Licensing-permit to operate
• Public franchise-a right granted from the gov. to carry out specific commercial activities.
• Building codes-regulation for construction
• Zoning-regulates different types of land use for development
![Page 12: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/12.jpg)
Social Security Act
• Deducts 6.2% from the employee and the employer each paycheck
![Page 13: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/13.jpg)
Equal Employment Opportunity Commission
• Handles workplace discrimination
![Page 14: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/14.jpg)
Types of Bankruptcy
• A legal proceeding that involves a person or business that is unable to pay outstanding debts
• Chapter 7-individuals
• Chapter 11- companies
• Chapter 13- need court approval and courts monitor your finances
![Page 15: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/15.jpg)
State & Local RegulationsInterstate & Intrastate
• Interstate-trade between states and outside of
• Intrastate- trade within the states
![Page 16: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/16.jpg)
Types of TaxesIncome, Sales, Excise, Property
• Income-largest annual source of income levied on personal income by the gov.
• Sales-tax on retail goods and services
• Excise- tax on specific goods (ex. Gas)
• Property- annual amount paid by the landowner to the local gov.
![Page 17: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/17.jpg)
Environmental Protection Agency
• Protects humans and environmental health
![Page 18: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/18.jpg)
Wheeler-Lea Act
• Prohibits false advertisements i.e. food, drugs, cosmetics
![Page 19: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/19.jpg)
Fair Labor Standards Act
• Regulates minimum wage, working hours, child labor, overtime, working conditions
![Page 20: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/20.jpg)
National Labor Relations Act
• Protects the rights of workers to form unions
![Page 21: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/21.jpg)
Clayton Act
• Prohibits merger to lessen competition
• In addition to the Sherman anti-trust act
![Page 22: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/22.jpg)
Robinson-Patman Act
• Prohibits anti-competitive practice by producers specifically price discrimination
![Page 23: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/23.jpg)
Federal Aviation Administration
• Enforces air safety and traffic control
• Inspects and rates aircrafts and pilots
![Page 24: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/24.jpg)
Americans with Disability Act
• Prohibits discrimination against people with disabilities and employment, transportation, public accommodations, communications
![Page 25: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/25.jpg)
The Electronics Communications Privacy Act
• Restricts the government to tap into computer databases
![Page 26: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/26.jpg)
Occupational Safety & Health Laws
• Health and safety regulations in the workplace
![Page 27: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/27.jpg)
American Civil Liberties Union
• Organization of lawyers that defend the civil rights of U.S citizens
![Page 28: Legal Aspects of Business Taxes, Laws, and Acts. Federal Unemployment Tax Act Provides unemployment compensation for people who’ve lost their jobs Payroll.](https://reader035.fdocuments.us/reader035/viewer/2022062806/5697bfc11a28abf838ca43bb/html5/thumbnails/28.jpg)
Right to Work States
• Can’t be forced to join a labor union