Greater Irvine Chamber of Commerce
Our mission is to advance the economic vitality of greater Irvine.
Our mission is to advance the economic vitality of greater Irvine.
Law 360 reported this week that U.S. Treasury officials believe multinational companies should anticipate new formulas as a part of future taxation. This is good news for companies producing in America who are tired of paying higher tax rates than many multinational enterprises (MNE). The Organization for Economic Cooperation and Development’s (OECD) recently approved “Programme of Work” also indicates that formulas will be a significant part of taxing MNEs in the future. One reason for the change could be comments by Pascal Saint-Amans, OECD Director of the Center for Tax Policy and Administration. He believes that the old system of transfer pricing aspects for “Base Erosion and Profit Shifting” (BEPS) has failed. The OECD will explore three options to modernize the global tax system in the coming months. Concerns include: which countries should be able to tax; what fraction of corporate profits should be taxable; and, what “bright line” rule establishes the right to tax at all. The OECD will also consider minimum taxes that create an effective throwback rule. An overriding concern, however, is a global desire to develop clear new rules allowing countries to tax a multinational company beyond its physical presence in a particular country. But this has not yet been defined. The first option,...
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Beginning this month, Greater Irvine Chamber Leaders Circle member The Toll Roads of Orange County are mailing 15,000 new sticker transponders per weekday to FasTrak accountholders to replace the hard-case transponders currently in use. The new transparent, bandage-size transponder is free and adheres to the inside of a windshield to collect tolls. Communication began in April, notifying more than 650,000 FasTrak accountholders of the approaching introduction of sticker transponders by sending an informational postcard and issuing new license agreements. Customers will receive one sticker transponder for each vehicle listed on the account. Equipped with state-mandated technology, the new sticker transponder works on all California’s toll bridges, lanes and roads and may eventually be used nationwide. The Toll Roads are the first tolling agency in the state to make the transition to sticker transponders and allows The Toll Roads to simplify payment options for its more than 1.5 million accountholders. FasTrak customers continue to pay tolls automatically from a pre-established, prepaid account. And beginning in October 2019, FasTrak customers can choose to “Pay as You Go” and have tolls charged to a credit card as they are incurred. Starting July 1, The Toll Roads are also eliminating TCA’s monthly account maintenance fee for FasTrak...
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The Greater Irvine Chamber has announced the 2019 nominees for its annual Business Awards. Through this award program, the Chamber recognizes businesses and individuals in Irvine that have demonstrated the principles of community service, volunteerism, and the best traditions of good corporate citizenship in five categories: Business of the Year, Nonprofit of the Year, Business Philanthropist of the Year, Emerging Business Leader of the Year, and Entrepreneur of the Year. Award recipients will be formally recognized at the Chamber’s Celebrate Irvine event on Friday, June 28, 11:30 a.m. - 1:00 p.m., at Hotel Irvine, 17900 Jamboree Rd. Award Nominees: Ahmad Afzal, Common Sense Eating Antis Roofing & Waterproofing Balloonzilla LLC Brandman University CAMA Easterseals Southern California Families Forward Hoag Hoag Orthopedic Institute Greg Kruegar, Uplift Transport Lion’s Heart Courtney Nakagawa, Morton’s The Steakhouse Orange County United Way Sullivan Solar Power Uplift Transport Vincit WHW Your Wealth Effect For the first time, the Spirit of Hospitality Award will be presented during the program. The award will recognize a back-of-house or front-of-house hospitality professional in Irvine who exhibits exemplary behavior in workplace knowledge, customer service, problem-solving, relationship building, and creating a warm welcome for visitors. Nominees include: Iris Rios, Hilton Alexis Galeana, Hyatt House Erin Wilson, Wyndham Abraham Vera, Hilton Maria Sanchez, Embassy Suites Patricia Bingham, Marriott Irvine Spectrum Alexis Martinez, Hyatt House Ramiro Carranza, Irvine Marriott James McGuine, Homewood Inn & Suites Saul Lopez, Wyndham Leticia...
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A new state workplace retirement savings program, CalSavers, will open to an estimated 250,000 to 300,000 employers on July 1 — offering an automatic IRA payroll deduction for the 7.5 million California workers with no retirement plan on the job. The massive program, expected to handle billions in savings, is voluntary for employees. If they don’t opt out in 30 days, they are automatically enrolled. Once in the plan, they can opt-out at any time, and then opt back in if they choose. For businesses with five or more employees, the program is mandatory. They must offer employees CalSavers, or a qualified retirement plan chosen by the employer, to avoid a penalty for repeated non-compliance of $750 per employee. CalSavers opens July 1 to all eligible employers and to the self-employed on Sept 1. Compliance deadlines begin for businesses with over 100 employees June 30, 2020; over 50 employees June 30, 2021, and five or more employees June 30, 2022. The CalSavers goal is to help the nearly half of all California workers, with little beyond Social Security, who are projected to retire into hardship. Their average annual income is $35,000. Two-thirds work for businesses with less than 100 employees. “Workers with a payroll deduction...
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