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| Automotive News at a Glance |
Listed here are several articles pertaining to the auto industry that appeared recently in newspapers and other media outlets across the nation.
December 10, 2009
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Upcoming Events |
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2010 ATAE Winter 2010 ATAE Winter Meeting, February 11 - 12, Orlando, FL.
2010 NADA Convention, February 13 - 15, Orlando, FL.
ATAE Group Benefits Focus Group Meeting, April 19 - 20, San Diego, CA.
ASNA Summer Meeting, July 15, Coeur d'Alene Resort, Coeur d'Alene, ID.
ATAE Summer Meeting, July 15 - 16, Coeur d'Alene Resort, Coeur d'Alene, ID.
ATAE Education and Training Focus Group Meeting, August TBA, Atlanta, GA.
NADA Washington Conference, September 21 - 22, Washington, DC.
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Greetings!
Welcome to the latest installment of IADA's e-news, containing timely updates, information, announcements and reminders. |
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| Dealer Resources |
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IADA REGIONAL MEETINGS
We would like to thank the dealers, sponsors and guests who attended the IADA Regional Meetings in Nov. and Dec. Our outreach meetings and events always provide a much anticipated opportunity to catch up with many familiar friends, as well as meet a few new faces.
From all the "awesome" and "enlightening" comments heard accross the state, this year's state-wide travel was another great success! Quite a few dealers were ahowed up to speak with the IADA and their valuable feedback will help us as we begin our 2010 legislative journey bth her in Idaho and in Washington DC.
MOST BUSINESSES MAY TAKE ADVANTAGE OF EXPANDED LOSS CARRYBACK OPTION UNDER NEW IRS PROCEDURE
Most businesses may use losses incurred during the economic downturn to reduce income from prior tax years, under a revenue procedure issued Nov. 20, 2009, by the Internal Revenue Service.
The current relief is applicable to any taxpayer with business losses, except those that received payments under the Troubled Asset Relief Program. The relief also applies to a loss from operations of a life insurance company.
Taxpayers under the procedure may elect to carry back a net operating loss (NOL) for a period of three, four or five years, or a loss from operations for four or five years, to offset taxable income in those preceding taxable years. An NOL or loss from operations carried back five years may offset no more than 50 percent of a taxpayer's taxable income in that fifth preceding year. This limitation does not apply to the fourth or third preceding year.
CLICK HEREto read the IRS Publication
The November 2009 Idaho Economic Outlook is now available on the Idaho Division of Financial Management's website.
CLICK HERE
IDAHO AUTO OUTLOOK
The 3rd quarter 2009 Idaho Auto Outlook is now available on the Idaho Automobile Dealers Association Inc. website.
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| Regulatory Updates |
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DEALER RIGHTS LEGISLATION INCLUDED IN CONFERENCE REPORT OF APPROPRIATIONS BILL
Congress has recently released the text of the final conference report of H.R. 3288, "The Consolidated Appropriations Act of 2010". Included is a revised version of Rep. LaTourette's (R-Ohio) amendment to the Financial Services Appropriations Bill on dealer rights. This development makes it very likely that the revised language will pass Congress and be signed into law.
1) The current status and summary of the revised LaTourette amendment/appropriations bill and its provisions.
2) The legislative text of the revised LaTourette amendment (Sec. 747 of H.R. 3288)
3) The conference committee's explanatory text of the revised LaTourette amendment.
U.S. DOL updates online guide
The U.S. Department of Labor recently updated its Employment Law Guide, an online publication that describes the major employment laws administered by the department.
This online guide helps small businesses develop wage, benefit, safety and health, and nondiscrimination policies. It is available online at www.dol.gov/elaws.
News from NADA: EPA reconfirms SPCC qualified facility rule
The U.S. Environmental Protection Agency (EPA) issued a final Spill Prevention, Control and Countermeasure (SPCC) rule in November, keeping intact a 2008 amendment designed to provide regulatory relief for small facilities, including dealerships. The compliance date remains November 10, 2010. EPA has confirmed that "Tier 1" qualified facilities may use a simple, self-certified SPCC plan template in lieu of a complex written plan. "Tier 1" qualified facilities are those that:
1. Have 10,000 or fewer gallons in aggregate above ground oil storage capacity and a maximum individual oil storage container capacity of 5,000 gallons, and
2. For the three years preceding SPCC plan certification, have no single discharge of oil exceeding 1,000 gallons to navigable waters, or two discharges of oil each exceeding 42 gallons to navigable waters within any 12-month period.
In 2006, EPA designated most facilities storing fewer than 10,000 gallons of oil and related fluids to be "qualified facilities" eligible to prepare and self-certify their own written facility SPCC plan, thereby avoiding the expense of hiring a professional engineer to do so. The new option for Tier 1 facilities is even less burdensome. NADA Regulatory Affairs intends to publish further guidance on this issue in early 2010.
A copy of the self-certification SPCC plan template is available on NADA's Web site at www.nada.org under the Advocacy & Outreach tab (Regulatory Affairs). Additional information is available at www.epa.gov/OEM/content/spcc. |
| IADA Classes & Seminars |
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FINANCE & INSURANCE SUMMIT - 2010
The greater your employee's skills, the BIGGER your profits. Let your employees learn the skills they need and your F&I profits will grow!
Attend one of the Finance & Insurance Summits Presented by the Idaho Automobile Dealers Association, Inc. & Zurich.
March 15th - 18th in Sun Valley, Idaho
July, Teton Springs in Victor, Idaho
October at the Shore Lodge in McCall, Idaho
Hurry, seats are limited and will be filling fast.
For more information contact;
Coleene Sutton
(208) 853.4668 |
| Automotive Forms & Supplies |
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| IADA is your best source of unique promotional items, embroidered apparel and custom business forms. Our goal is to provide dealer members with quality products, competative pricing and fantastic service. Please make sure to take advantage of our acceptional discount on quantity price breaks.
Order 24/7: IADA faxline: (208) 853-6671
Order by phone: (208) 853-4668
For more information on product and pricing in our catalog, call Jennifer @ (208) 938-7870 | |
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The IVRS is a web-based program that creates a solution for car, truck, RV and boat title reports in Idaho. This program is accessible anywhere, anytime via a secure website. The IVRS allows for customizable reports that summarize title data so businesses can more efficiently identify and seize opportunities. The IADA will continue to strive for their goal of providing the best weekly updated "title/sold" market data available to subscribers 24/7!
Call today for more information regarding the service. (208) 853-4668 - Jocelyn Francis |
Mission Statement: The Idaho Automobile Dealers Association Inc. was formed in 1932 to represent interests of licensed vehicle dealers in the state. Our goal then and now has been to improve, enhance and grow the automobile industry in Idaho. By advocating and providing programs, products and services for licensed car dealers we want to create a stable and healthy retail market for idaho's business and consumers.
Sincerely,
Trent Wright
Idaho Automobile Dealers Association Inc. |
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We welcome your suggestions and contributions. For further information and updates regarding the Idaho Automobile Dealers Association Inc. please visit our website.
Idaho Automobile Dealers Association Inc.
4980 W. State St. Boise, ID 83703
Phone: (208) 853-4668 Facsimile: (208) 853-6671
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