LOCALLY IMPOSED SALES TAX CHANGES EFFECTIVE JULY 1
Beginning July 1, 2022, the rates of certain locally imposed sales taxes that are administered by the Illinois Department of Revenue will change. Please refer to this bulletin from the Illinois Department of Revenue to see if you are affected: FY 2022-19 Sales Tax Rate Change Summary, Effective July 1, 2022 (illinois.gov). Please note that these sales tax rate changes apply only to general merchandise and do not apply to vehicles.
COOK COUNTY & CHICAGO MINIMUM WAGE INCREASES EFFECTIVE JULY 1
Beginning July 1, 2022, the Cook County Minimum Wage will increase from $13.00 to $13.35 by ordinance, because the 8.3% April CPI increase triggers a 2.5% cap on Cook County's minimum wage increase.
Also, beginning July 1, 2022, the minimum wage for employers located in Chicago will increase from $15 per hour ($14 per hour for employers with 20 or fewer employees). The Chicago minimum wage increase is tied to the Consumer Price Index and city officials have not yet announced the amount of the July 1 increase.
The statewide minimum wage in effect everywhere outside of Cook County remains at $12 until January 1, 2023, when it will increase to $13 per hour.
IADA PARTNERS WITH INCOME DEVELOPMENT COMPANY - ETHOS GROUP
IADA is excited to partner with Ethos Group to help our members promote an ethical, customer-focused approach to the sale, financing, and servicing of automobiles. Their services include consulting, recruiting, training, compliance, technology, product administration, and dealer participation programs. Their technology platform improves efficiency, compliance, profitability, and consumer delivery experience. Try their proven approach to increasing profits while reducing your risk and cost of doing business. For more information, contact Lance Graves lgraves@ethosgroup.com or ph# 402-960-0538. www.ethosgroup.com
NADA: A DEALER GUIDE TO FTC SAFEGUARDS RULE
The Federal Trade Commission's revised Safeguards Rules will take effect on December 9, 2022. However, the new rule will impose significant obligations on dealers, including development of written policies for security risk assessment and response, cybersecurity technical requirements and system testing, implementation of procedures to ensure the security of customer information, employee training, and review of service provider and vendor security practices.
For additional background, NADA's A Dealer Guide to the FTC Safeguards Rule is chock-full of valuable information about the new rule. The Guide can be accessed on the NADA website at: A Dealer Guide to the FTC Safeguards Rule (L43) | NADA. Note: NADA login information is required to access the guide.
When you are ready to lock down a dealership procedure for safeguarding customer information, IADA recommends contacting Dealer Safeguard Solutions at: Dealer Safeguard Solutions, Inc.
IADA PARTNER, BELLAVIA BLATT, TO HOST RETAIL WARRANTY REIMBURSEMENT WEBINAR
Please join us on Tuesday, June 21 at 10AM CST for a comprehensive webinar regarding Retail Warranty Reimbursement and the significant benefits available to dealers, presented by IADA's exclusive endorsed partner, Retail Warranty Reimbursement, powered by Bellavia Blatt, P.C.
Most dealers are familiar with their legal right to reimbursement at retail rates for both parts and labor. What is not necessarily known is that they can re-apply on a regular basis to have their rates adjusted. This webinar will be conducted by two representatives from Bellavia Blatt P.C. - one, an expert in warranty reimbursement procedures and the other, an attorney specializing in dealer law. They will advise participants of the applicable statute, discuss the application process and provide an overview to those who have not yet taken advantage of their statutory rights. Important topics covered will include:
•The Illinois Retail Warranty Reimbursement statute; • a brief history of warranty reimbursement procedures; • an overview of the submission and resubmission processes; • submission timing and frequency; • dealer eligibility; • the importance of applying for reimbursement; • how to maximize your reimbursement; • and the advantage of using a law firm for the submissions. Click here to register
FEDERATED'S HR QUESTION OF THE MONTH, AT-WILL EMPLOYMENT
QUESTION: I want to make sure that our company is compliant with all applicable requirements when we terminate an employee. I need to ensure that I understand exactly what "at-will" means. I believe if we have an at-will employment relationship, then we can terminate an employee at any time. Can you confirm my understanding? Click here for the answer.
FEDERAL SPENDING LEGISLATION INCLUDES $148 MILLION FOR ILLINOIS EV INFRASTRUCTURE
The $7.5 Billion Federal Infrastructure Legislation earmarks $148.6 Million to Illinois to support construction of an electric vehicle charging network. The Federal program also includes an opportunity for Illinois to receive additional Federal moneys through a competitive grant program for additional electrification programs, including fast-charging EV stations, electric mass transit vehicles, and other programs. To learn more about how the federal infrastructure legislation will impact Illinois and the Midwest, read here.
