H.R. 674 was signed by President Obama and became Public Law No: 112-56 on November 21, 2011. This new law amends the Internal Revenue Code of 1986 to repeal the imposition of a 3% withholding on certain payments made to vendors (contractors) by government entities.
Additional Resource Information:
Link here to the Library of Congress for additional information about this legislation.
You can also register to attend our Annual Review Preview Construction Law Seminar on January 26, 2012 to learn about other recent changes in California construction laws and how they will affect your business.
Copyright 2011 Gibbs Giden Locher Turner Senet & Wittbrodt LLP ©