A World Trade Organization (WTO) dispute panel has rejected China’s challenge of punitive duties imposed by the United States on passenger and light-truck tires. The WTO decision is scheduled to be released in mid-December. President Obama directed the U.S. government to impose tariffs on imported tires from China for three years, beginning September 26, 2009.

The president responded to a finding by the U.S. International Trade Commission that increased imports of Chinese-made tires had caused major job losses and plant closures in the United States. The tariff levels are 35% for the first year, 30% the next and 25% in the final year, in addition to the normal 4% duty applied to these products. The president may review the effects of the tariffs and end or reduce the tariffs sooner, if deemed appropriate. For additional information, contact Stuart Gosswein at stuartg@sema.org.

A World Trade Organization (WTO) dispute panel has rejected China’s challenge of punitive duties imposed by the United States on passenger and light-truck tires. The WTO decision is scheduled to be released in mid-December. President Obama directed the U.S. government to impose tariffs on imported tires from China for three years, beginning September 26, 2009.

The president responded to a finding by the U.S. International Trade Commission that increased imports of Chinese-made tires had caused major job losses and plant closures in the United States. The tariff levels are 35% for the first year, 30% the next and 25% in the final year, in addition to the normal 4% duty applied to these products. The president may review the effects of the tariffs and end or reduce the tariffs sooner, if deemed appropriate. For additional information, contact Stuart Gosswein at stuartg@sema.org.

Companies that purchase health care insurance and have less than 25 employees may be able to claim a tax credit beginning with the 2010 tax year. The credit varies according to size and average wages. The maximum credit is 35% of premiums paid by businesses with 10 or fewer full-time employees paying average annual wages of $25,000 or less.

Eligible small businesses may claim the credit for 2010 through 2013 and for any two years following. The employer must pay at least half of the premiums for single health insurance coverage of their employees. The Internal Revenue Service released final guidance on how to claim the tax credit. Click here for more information and to access the necessary forms to apply for the Credit for Small Employer Health Insurance Premiums. For questions, contact Dan Sadowski at dans@sema.org.

Companies that purchase health care insurance and have less than 25 employees may be able to claim a tax credit beginning with the 2010 tax year. The credit varies according to size and average wages. The maximum credit is 35% of premiums paid by businesses with 10 or fewer full-time employees paying average annual wages of $25,000 or less.

Eligible small businesses may claim the credit for 2010 through 2013 and for any two years following. The employer must pay at least half of the premiums for single health insurance coverage of their employees. The Internal Revenue Service released final guidance on how to claim the tax credit. Click here for more information and to access the necessary forms to apply for the Credit for Small Employer Health Insurance Premiums. For questions, contact Dan Sadowski at dans@sema.org.

The National Highway Traffic Safety Administration (NHTSA) will soon require that all new passenger cars be equipped with a rearview camera system. The equipment is intended to prevent back-over accidents by alerting drivers when pedestrians are behind the vehicles. Under a law passed in 2008, the NHTSA has until early 2011 to issue a rule to be phased-in by 2014.

The NHTSA has issued a proposed rule that would set performance requirements to be achieved but allow manufacturer discretion when selecting the video camera system. The specialty-equipment market has been at the forefront of offering cameras and sensors to address the issue. For more information, contact Stuart Gosswein stuartg@sema.org.

The National Highway Traffic Safety Administration (NHTSA) will soon require that all new passenger cars be equipped with a rearview camera system. The equipment is intended to prevent back-over accidents by alerting drivers when pedestrians are behind the vehicles. Under a law passed in 2008, the NHTSA has until early 2011 to issue a rule to be phased-in by 2014.

The NHTSA has issued a proposed rule that would set performance requirements to be achieved but allow manufacturer discretion when selecting the video camera system. The specialty-equipment market has been at the forefront of offering cameras and sensors to address the issue. For more information, contact Stuart Gosswein stuartg@sema.org.

As of October 13, 2010, Iowa street rods, replicas and specially constructed vehicles are no longer required to be equipped with fenders and bumpers. Previous Iowa inspection requirements for these specialty cars specified that all vehicles were to be equipped with fenders and required a front and rear bumper.

The changes take into account the unique nature of these vehicles. In altering the fender and bumper specifications, regulators also signal their understanding of the fact that street rods and special-interest vehicles are driven less frequently than regular passenger vehicles (about one-third the miles each year as compared to a new vehicle) and should therefore not be bound to conventional equipment requirements. For more information, contact Steve McDonald at stevem@sema.org.

As of October 13, 2010, Iowa street rods, replicas and specially constructed vehicles are no longer required to be equipped with fenders and bumpers. Previous Iowa inspection requirements for these specialty cars specified that all vehicles were to be equipped with fenders and required a front and rear bumper.

The changes take into account the unique nature of these vehicles. In altering the fender and bumper specifications, regulators also signal their understanding of the fact that street rods and special-interest vehicles are driven less frequently than regular passenger vehicles (about one-third the miles each year as compared to a new vehicle) and should therefore not be bound to conventional equipment requirements. For more information, contact Steve McDonald at stevem@sema.org.

President Obama and Republican leaders have reached a compromise “framework” for a two-year extension of the 2001 and 2003 tax cuts for all income levels, set to expire on December 31. The lawmakers also agreed to a 13-month extension of federal unemployment benefits and a one-year reduction in the worker’s Social Security payroll tax (FICA) from 6.2% to 4.2%.

The compromise includes a SEMA-supported extension of the research and development tax credit through 2011, retroactive to its 2009 expiration. Additionally, the estate tax would be reinstated at 35% after the first $5 million (for two years), and businesses would be provided a 100% write-off on capital expenses for businesses during 2011 (up from 50%).

SEMA has sent a letter of support to House and Senate members urging Congress to act quickly to enact the tax relief program. SEMA believes that the tax program will have a positive and noticeable impact on the economy and will provide many of the necessary tools for small businesses to remain the most important force in driving America’s economic recovery. For more information on these new developments, please contact Dan Sadowski, SEMA congressional affairs manager at dans@sema.org.

President Obama and Republican leaders have reached a compromise “framework” for a two-year extension of the 2001 and 2003 tax cuts for all income levels, set to expire on December 31. The lawmakers also agreed to a 13-month extension of federal unemployment benefits and a one-year reduction in the worker’s Social Security payroll tax (FICA) from 6.2% to 4.2%.

The compromise includes a SEMA-supported extension of the research and development tax credit through 2011, retroactive to its 2009 expiration. Additionally, the estate tax would be reinstated at 35% after the first $5 million (for two years), and businesses would be provided a 100% write-off on capital expenses for businesses during 2011 (up from 50%).

SEMA has sent a letter of support to House and Senate members urging Congress to act quickly to enact the tax relief program. SEMA believes that the tax program will have a positive and noticeable impact on the economy and will provide many of the necessary tools for small businesses to remain the most important force in driving America’s economic recovery. For more information on these new developments, please contact Dan Sadowski, SEMA congressional affairs manager at dans@sema.org.