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Obama Signs JOBS Act Opening Door to Up to $1 Million in Crowdfunding

Obama Signs JOBS Act Opening Door to Up to $1 Million in Crowdfunding

President Barack Obama Thursday signed into law the bipartisan JOBS Act, short for Jumpstart Our Business Startups, which is designed to create jobs over time by easing access to capital for businesses. Citing the success of American inventors and entrepreneurs such as Graham Bell and Henry Ford, Obama predicted the act will be a “game […]

FTC announces right to privacy principles

The Federal Trade Commission today released a report outlining principles designed to encourage  companies to respect consumers’ right to privacy pertaining to Internet use. In releasing the report, FTC Chairman Jon Leibowitz encouraged companies to embrace three principles: “First, incorporate privacy protections into products as they are developed – that is, privacy by design; Second, offer […]

10 years after 9/11, security still top of mind

10 years after 9/11, security still top of mind

By Ann Meyer — Chicago photographer Jimmy Fishbein hasn’t forgotten the terrorist attacks that struck New York 10 years ago, where his photography studio was located at the time. Fishbein lost just about everything, including his portfolio, when his studio next to the World Trade Center got caught in the disaster of Sept. 11. “I […]

Nice Cream maker aims to keeping churning product by changing state rules

In business, luck can change overnight and sales can melt away. Chicago ice cream entrepreneur Kris Swanberg thought herself fortunate to be able to parlay an ice cream maker she received as a wedding gift into a new business opportunity three years ago. The fresh fruit and interesting flavor combinations, combined with organic ingredients, made […]

Durbin to sponsor federal use-tax act

All but the smallest out-of-state online retailers would have to collect and remit a use tax to the states, under a planned federal act that Senators Dick Durbin (D-Ill.) and Mike Enzi (R-Wyo.) are expected to introduce in Congress, according to news reports. In an editorial, the Chicago Sun-Times praised the concept of a national use tax […]

State hopes to push use-tax burden to consumers with 2010 tax form

By Claire Hoffman Medill News Service — April 18 may have been more dismal than usual for some Illinois taxpayers due to a new line on the state income tax form. Beginning with the 2010 tax year, Illinois Form IL-1040 specifically required individuals to report any use tax not paid on purchases made online or outside […]

Vendors adjust to healthy foods movement

By Hallie Busta Move over, junk food. Chicago-area vending machine companies are swapping calorie-dense snacks for healthier items in the wake of new legislation designed to improve food options for children. Until recently, vending machines were associated with snacks laden with sugar and fat, said Jackie Clark, spokeswoman for the National Automatic Merchandising Association. But […]

Amazon.com closes Dallas warehouse over use-tax dispute

Amazon.com reportedly plans to close a Dallas distribution center due to a disagreement with the state of Texas over millions of dollars in sales taxes, according to an Associated Press report in the Chicago Sun-Times. According to the report, the Texas comptroller’s office contends Amazon.com owes $269 million in uncollected sales tax because its warehouse gives […]

News digest: Economy picks up, health reform sticks, 1099 measure repealed

Health care reform stands, while Senate repeals 1099 provision. The Senate defended health care reform Wednesday, averting a repeal while voting to remove a provision in the Patient Protection and Affordable Care Act that would require small businesses to file a 1099 tax form for every purchase of more than $600, the New York Times […]

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