EMV: What You Need to Know     

Its' likely that you've already heard about the upcoming EMV rollout. "EMV" stands for Europay, MasterCard and Visa, a standard for chip-based transaction processing technology that is a more secure way to handle credit and debit purchases.

On October 1, major credit card companies are gradually transitioning from magnetic stripe technology to chip technology as cards expire but support for swipe card format will remain until all cards have expired.

Once the rollout is complete, merchants will be liable for fraudulent charges made using magstripe cards - not the credit card companies. If a merchant accepts a card  later deemed to be lost, stolen or modified, and is charged back by the cardholder, then the merchant is responsible for the loss incurred with that transaction. Note that it doesn't impact all chargebacks or disputed transactions, only those considered to be fraudulent. Merchants subject to fraudulent charges are at a higher risk and should be early adopters of the new equipment. If your business sells services, then the risk is lower.

The benefits of EMV are greater consumer security with a payment card that works anywhere in the world and a reduction in card fraud resulting from counterfeit, lost and stolen cards impacting businesses.

The new standard will require some minimal education to teach employees how to work the terminals, as chip technology will require a "dip" into the machine for the duration of the transaction rather than a swipe, but there won't be mass migration to chip technology until magstripe cards reach their expiration dates.

A range of EMV solutions are available to meet your needs now and after October 1st, 2015. Speak with your banking representative to learn what would be best for your business and attend the Chamber Lunch & Learn on August 20 for more information. Click here to register. 

 Ohio Sales Tax Holiday       

The State of Ohio has declared a Sales Tax Holiday from August 7-9 with select items being exempt from sales tax. The broad categories are as follows:

• Clothing priced at $75 per item or less;
• School supplies priced at $20 per item or less; and 
• School instructional material priced at $20 per item or less. 

There are a lot of subtleties that will hit businesses even those that aren't a primary retailer of these items.  For example, a pen or handmade book from an art gallery, if below the $20 threshold could be considered a school supply. It would apply to someone buying a t-shirt from the Little Art, Glen Helen, etc. And it applies to sales of these items at Art on the Lawn or the Farmer's Market.

Please note that this is NOT an optional program but mandatory state law. There are provisions in the language for customers to bring their receipts back in for refunds if they were incorrectly charged sales tax.  Click here for a one page description of the program.

Click here for the Ohio Department of Taxation website  for more information. They have an email address and phone number if you have specific questions.  

The Chamber will be bringing a promotional poster and a quick reference card with details of the program to affected businesses to keep at the cash register. If you have any additional questions, please call 767.2686. 

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Business Education & Events

Greene County Career Center Workforce Education

Various classes and times; 2960 W. Enon Rd., Xenia, OH

Meeting the needs of business and individuals in workforce training and certification. Adult classes.

Clark State Community College Workforce Training

Various classes, times and locations; (937) 431.7164

Professional development classes and individualized programs to help your employees and company rise to the top

Wright State University SBDC Workshops 

Various Times; Various Locations.  Register online.

A series of classes for anyone starting a new business including start-up basics and writing a business plan. Other specialized classes are also available.

Dayton SCORE Small Business Success Workshops

Various Times; Various Locations

A variety of free and fee-based business courses to meet your needs and challenges. Information and services valuable to start up business or one looking for new ideas to improve. Mentoring services and workshops are free or minimal cost. 

Dayton SCORE Non-Profit Initiative

Various Times; Various Locations