July 2023

Prepared and Distributed by The Midwest Hardware Association, Inc.

BIPA Reform Remains Elusive

By Alec Laird, MHA Illinois Lobbyist and Vice President, Government Relations for the Illinois Retail Merchants Association

As eHELPS readers are aware, MHA has been part of a coalition to reform the Illinois Biometric Information Privacy Act “(BIPA”) for years. The BIPA was one of the first state laws to address business’s collection of biometric data. The BIPA largely went unnoticed until 2015, when a series of class action lawsuits were brought against businesses alleging unlawful collection and use of the biometric data of Illinois residents. These cases sparked a flood of similar customer-based class actions, as well as employee-based class actions claiming BIPA violations in connection with the deployment by employers of time-management biometric tools. This led to a plethora of egregious decisions and settlements against businesses.

 

In the aftermath of one such case, Cothron v. White Castle System, Inc., members of the General Assembly reached out to business interests for suggestions and language regarding BIPA.

 

The business coalition suggested the following changes:


Read the full article here

Good Riddance to Wisconsin's Personal Property Tax

By Misha Lee, MHA Wisconsin Lobbyist

Main Street businesses across Wisconsin are chalking up a significant victory with the recent enactment of 2023 Wisconsin Act 12, a local government revenue reform bill which also included language that finally repeals Wisconsin’s archaic business personal property tax starting with the January 2024 assessment. Repealing the personal property tax has been a top legislative priority for the Midwest Hardware Association (MHA) and is a major legislative victory overall for the Main Street business community after years of hard fought lobbying from a broad coalition of business groups.

 

The personal property tax is one of Wisconsin’s oldest taxes dating back to around the time of statehood in the mid-1800s when there wasn't an income or sales tax to fund the government. Government funding came primarily from property taxes — both from actual land and buildings, but also from personal property like jewelry, furniture, and livestock. The personal property tax is assessed on all tangible personal property owned by businesses, including inventory, machinery, equipment, and fixtures. The tax is assessed on the value of the property and the rate varies depending on the type of property and the municipality. However, over the course of many decades the state legislature has granted more exemptions from the tax than items that are subjected to the tax generating far less revenue than the cost and burden to administer it. The increased number of exemptions also created much confusion, complexity and placed an unfair compliance burden, particularly on smaller sized businesses. The reporting requirements and recordkeeping of the tax every year has become a major thorn in the side for countless small businesses and retailers, but also for local units of government who must administer and collect the tax. Eliminating the personal property tax will simplify compliance for businesses throughout the state, especially smaller sized operations. Businesses will no longer have to file annual personal property tax reports and they will no longer have to worry about the assessment of their property.



Read the full article here

Wisconsin - Sales Tax Retailer's Discount

Good news for MHA members in Wisconsin! The Joint Finance Committee approved changes to current law as it relates to the retailer’s discount able to be claimed. The rate moves from .50% to .75% and the cap is increased from $1,000 to $8,000. There are still some hurdles for these changes to go into effect... we will know more next week. Stay tuned!



Read the full article here

MHA is excited to let you know that we now offer Swipeclock, the leading small business Time & Labor solution.

 

Automated Time & Labor integrated with payroll makes managing work hours, schedules, and PTO easy and hassle-free. Capture punches in real time and make timecards immediately available for review and approval. We also offer integrated hiring, onboarding and HR management.

What does this mean for you?


You can throw away the paper and spreadsheets and provide employee self-service for timesheets, schedules and vacation time. Our hiring solution allows you to easily track applicants in a centralized system and post to multiple job boards from the platform.

Plus, it’s a reliable way to reduce your labor costs. Overtime alerts, schedule enforcement and missed punch notifications help keep payroll costs in check.


Please see the attached link:

https://partner.swipeclock.com/engage/demo-workforcehub-time-plus/?sales_rep=VktHbEI4ays4ZWNlRmFlamovZDA5Zz09


If you would like to set up a meeting to learn more, please contact me at tinam@midwesthardweare.com


Thank you for being a valued customer and trusting us to handle your payroll. We know you have many choices when it comes to service providers, and we truly appreciate your business.

midwesthardware.com update...
Classifieds are now the Marketplace!

If you'd like to post an item, multiple items, or a whole store for that matter, just click on the purple bar that reads "Click here to submit a listing" to get started.
Listings will remain posted for 90 days once activated by an MHA moderator, and will look something like this:
If you have any questions in regard to the new Marketplace, please feel free to contact Sam Schmidt at sams@midwesthardware.com or 715-254-9617.

Sales Trends February 2023

Here are the most recent Illinois, Minnesota-Dakotas, and Wisconsin hardware store sales trends, gathered from association members using the MHA's monthly accounting services. The figures derived for each region include sales data from the following number of stores:


Illinois - 12 stores

Minn.-Dakotas - 11 stores

Wisconsin - 42 stores

Service Spotlight

Monthly Accounting
MHA is the recognized leader in providing accounting to independent hardware stores of all sizes and of all wholesaler affiliations. We provide accurate, timely, complete monthly financial statements and, because we do accounting for hundreds of hardware stores across the country, we offer something that other accounting firms can't.

With MHA monthly accounting service you receive:

  • Monthly Profit & Loss Statement, Balance Sheet, and Cash Flow
  • Accountant's Interpretation and Analysis Letter
  • Complete reconciliation of all bank accounts, outstanding credit card transactions, merchandise payables, and other balance sheet items
  • Preparation of sales tax, payroll tax, and other federal, state, and local tax reports
  • Nationwide, toll-free telephone access to keep you in touch with the MHA staff
  • Outstanding, professional service at reasonable prices

Our trained staff stays up to date on the latest tax developments and works closely with you to prepare and file returns that are accurate, complete, and on time.

Testimonial

“Because they work with other hardware stores around the nation, MHA gives us great insight on what to do when it comes to my accounting and finances. They are the best financial counselors to have for running a hardware store.”

David Tennies, Manager
Tennies Hardware
West Bend, WI