Today marks the opening of the 2011 General Session. Maryland faces a $3 billion budget deficit, as well as a significant long term shortfall in funds needed to maintain and update our transportation system.  MADA will work with the Governor and Legislature to come up with creative solutions to these issues while at the same time making clear that the answer to the problems cannot simply be more taxes on our businesses, customers and employees. 

We urge you to attend our  General Membership Meeting and Annual Legislative Reception, next week in Annapolis, on January 18, 2011. We know MADA will continue it's long history of meeting with success on State Circle, but recent history has proven that the grassroots efforts of dealers are often far more successful. This is YOUR opportunity to show the new legislators how important our industry is to the State. 

You may reserve your spot today by downloading a registration form and returning it by fax, 410.269.1549, or by mail to:

MADA

7 State Circle, Suite 301

Annapolis, MD 21401

The new Social Security tax break law went into effect January 1, 2011. An extensive package of tax cuts passed on December 17, 2010 lowers the amount of money the workforce pays into Social Security in 2011, which will result in more take-home pay for many workers. 
 

Employees usually pay 6.2% of their initial $106,800 yearly earned wages into Social Security, but starting in 2011 the amount will change to only 4.2% of employee's incomes will go to Social Security. In addition, the maximum deduction is reduced to$4,485.60 (down from $6,621.60 in 2010) and the Self-Employment Tax is also reduced from 12.4% to 10.4 %.  There is no change in the Medicare tax rate; it remains at 1.45%.  
 

We have provided a concise checklist of 2011 Maryland and Federal tax and wage facts (courtesy of ADP).  Please click here to download the document.  
 

The IRS has set a deadline for employers to adjust payroll systems by January 31, 2011. Any incorrect amounts deducted in the first payroll of the year must be returned in subsequent payrolls no later than March 31, 2011. For additional information please visit the IRS website. 

Beginning January 2011, the ability to renew vehicle registrations in person at Motor Vehicle Administration (MVA) offices is no longer available.  To renew registrations, a customer must use online services.  If a customer requests a Tag & Title Service to process their renewal, the renewal must be processed utilizing the Electronic Registration and Titling System (ERT). Only transactions having a flag can be sent to MVA for processing. 

Invitations to the 2011 MADA/WANADA/VADA Reception at the 2011 NADA Convention have been mailed and should arrive in your mailbox shortly...

We are excited to host our members at the 2011 NADA Convention in San Francisco, CA!  Registration is up for this year's Convention and we expect a great turnout of our members!  Event details are as follows:

Saturday, February 5, 2011 : 6:30-8:30 p.m.

Julia Morgan Ballroom, Merchants Exchange Building, 15th Floor

465 California Street

San Francisco, CA

Please note!

All RSVPs should be directed to Natalie Toler (VADA) at 804.545.3035 or ntoler@vada.com

A copy of the invitation is available for download here.

Please take the time to remind yourself of the 2011 wage and tax rates for both Federal and Maryland employment.  Please click on the link above to access the document.  Document provided courtesy of ADP. 
 

We thank our members who have already paid their 2011 dues.  If you or your company have not paid your 2011 dues, please do so as soon as possible.
 

January 18, 2011 - MADA Annual Membership Meeting and Legislative Reception

February 5, 2011 - MADA/VADA/WANADA Reception at NADA Convention, Julia Morgan Ballroom at Merchants Exchange Building

February 5-7, 2011 - NADA Convention and Expo, San Francisco, CA

February 10-13, 2011 - Motor Trend International Auto Show-Baltimore