Earth-shaking changes in the tax laws impacting restaurants happen once a decade. The Small Business and Work Opportunity Tax Act, signed by President Bush on May 25, 2007, is the latest. That’s when Congress increased the minimum wage.Congress and the restaurant lobby reached a compromise to get the minimum wage changed. The restaurant lobby agreed to not actively oppose the minimum-wage increase if certain targeted tax relief was included for the industry. It was win-win. Congress got to ...
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Contact: Desiree Torres Desiree.Torres@penton.com