FDA ANNOUNCES EFFORTS TO BAN MENTHOL CIGARETTES/FLAVORED CIGARS
ELECTRIC RETURNS TO GASOLINE?: WILL CURRENT EV TRENDS HOLD?
NEW JERSEY ANNOUNCES MORE REOPENING PLANS
VISA OFFERS TEMPORARY EMV LIABILITY SOLUTION
BIDEN UNVEILS MORE DETAILS ON TAX PLANS
LOOK FOR NJGCA SCHOLARSHIP ANNOUNCEMENT
It has been a while since NJGCA has sponsored a scholarship; I expect that details will be available soon and a special announcement will be made. Look for an email with the details and act accordingly in order to take advantage of this opportunity. Part of the scholarship will be made thanks to the generosity of Utica Insurance as they have been a big part of the NJGCA Liability Insurance program that we have had with the Amato Agency. There will also be a scholarship available that will be funded by NJGCA. Watch for these details!
FDA TO BAN MENTHOL/FLAVORED CIGARS
Last week, the Federal Food and Drug Administration (FDA)announced two tobacco initiatives they would be focusing on, banning menthol cigarettes as well as flavored cigars. This has been an issue that has been on the horizon for several years; NJGCA and many other organizations have fought this successfully within the state and will continue to do so. Since it is now back on the table as a national discussion, there are people in New Jersey that are suggesting that the state lead the way in this effort. Of course, this is bad no matter how you look at it, but if New Jersey adopts these measures and the rest of the country does not, it puts our businesses at a disadvantage because your customers will be free to purchase those products in other states. We will be sure to bring you updates on any progress these efforts make.
GREEN TO GASOLINE
Now that more and more people are getting into electric vehicles (EVs) there are more people to survey, get opinions, and collect data from. This article confirms what we already know: that it is very inconvenient (at least for now) to keep a battery EV charged enough to eliminate the range anxiety that keeps people from replacing their gasoline vehicle with an EV. I expect that the trends the article outlines will continue to be the case; that people will go back to gasoline powered vehicles because of the inconvenience of finding a place to "fuel up". However, there is still a big uncertainty, and that is: how many people are going to get caught up in the tidal wave of replacing their gasoline vehicle with battery electric vehicles? And of those people, how many will prefer the EV regardless of the possible inconvenience, or are willing to tolerate it because of the environmental benefits? They may even prefer the way it drives. If you have had an opportunity to drive an EV, you'll know what I mean. As we have mentioned before, there are still many factors that will determine the rate at which motorists will eventually run out and turn in their gas-powered vehicles. You must be prepared to meet the marketplace no matter what.
NJ REOPENING EFFORTS
Governor Murphy is beginning to loosen restrictions with regards to Executive Orders shutting down businesses due to COVID that started over a year ago. Among the announcements, effective Wednesday, May 19th, 2021, there will be a "Complete removal of all percentage capacity limits for indoor and outdoor businesses - Any business, whether indoors or outdoors that is subject to a percentage capacity limitation will instead be guided by the rule regarding six feet of distance between persons or groups of persons." This means that while restrictions will be lifted as far as the number of persons allowed in a business, social distancing will still be expected to be maintained. Additionally, if your business serves food, the change will remove the 50% limitation but you must be able to maintain the six feet of required distance between tables" except that tables will still be permitted to be closer than six feet where restaurants use partitions that comply with DOH requirements." The prohibition on tables of more than eight persons will also be lifted.
For more information on the restrictions being lifted in the next few days in New Jersey, click HERE.
VISA EMV LIABILITY SOLUTION
For those of you who have not yet upgraded their pumps to be in compliance with EMV standards, Visa recently announced a service available at no charge to protect fuel retailers. The system uses extensive transaction data from Visa along with risk scoring capabilities to provide real-time risk assessments. If the system finds the gas customer's risk score is too high, the customer is prompted to go inside the store to complete the transaction. Most fraudsters will prefer to drive away instead of going inside. Reach out to Visa if your pumps are not ready for EMV and see if this would work for you. Please be advised that this program is ONLY for Visa, we have not heard of a similar arrangement with MasterCard. At the end of the day, it is still the more sensible thing to make your pumps EMV compliant, as even this preventative measure is meant to be used temporarily with the understanding that retailers will still become compliant. If you know you are not yet EMV compliant, I strongly urge you to contact our MBP Sound Payments to learn more about their retrofit payment solution by emailing nick@njgca.org.
FEDERAL TAX PLANS
President Biden has unveiled two huge new plans that he wants Congress to pass this year. A $2.65 trillion American Jobs Plan focused generally on infrastructure, and now a $1.8 trillion dollar American Families Plan (in addition to the already passed $1.9 trillion American Rescue Plan). The plans call for an increase in the federal corporate tax rate from 21% to 28%. The top income tax rate would increase from 37% to 39.6%, (where it was during the Obama and Clinton Administrations) on individual income over approximately $450,000 and about $500,000 for joint filers. The capital gains tax would nearly double from 20% to 39.6% for individuals with more than $1 million in income. There is also a 3.8% net investment income tax that would be added on as well. Combined with New Jersey taxes, the new combined capital gains tax rate in New Jersey would be 54.2%. The plan does not increase the estate tax (death tax) rate or lower the exemption level, however it does seek to repeal the "step-up in basis" rule that currently lowers the capital gains tax liability for property and assets when they are left to an heir. Currently, if an heir sells a property they are taxed on the capital gains made off the value of the property when they inherited it. Under Biden's plan they would pay based on the value accrued since it was originally purchased. The plan also does not include any provision to bring back the full state and local tax (SALT) deduction, which was capped at $10,000 in 2017. It remains to be seen just how much of these programs will be passed by a Congress that is controlled by Democrats but only by the narrowest of margins.
All classes held at NJGCA HQ -- 4900 Route 33 West, Wall Township, NJ 07753
ASE-Prep Training (for NJ ASE-track ERT/ETEP Re-Certification)
NJGCA will offer an ASE-prep class for Emission Repair Technicians (ERTs) seeing to continue their existing accreditation. Students will meet twice a week for the entire five-week period (ten sessions), and review the required material for the A6, A8, and L1 exams. While we anticipate most students would appreciate preparing for all three tests together, we can also accommodate technicians who only need to prepare for a specific section.
All classes will meet in Wall Township, from approximately 9:00am to 3:00pm, on the following dates:
May Dates:
Class 1 - Tuesday, 5/4
Class 2 - Thursday, 5/6
Class 3 - Tuesday, 5/11
Class 4 - Thursday, 5/13
Class 5 - Wednesday, 5/19
Class 6 - Thursday, 5/20
Class 7 - Tuesday, 5/25
Class 8 - Thursday, 5/27
June Dates
Class 9 - Wednesday, 6/2
Class 10 - Thursday, 6/3
Prices:
NJGCA Members: $1,995.00 (plus the price of books)
New Jersey could get rid of the gas tax now that it's jumped astronomically in recent years. But even if the state moves forward, drivers will still find themselves digging in their pockets if they want to hit the road. State officials say they're looking into replacing the gas tax with a mileage fee, a plan that would help New Jersey deal with the rising numbers of electric cars that have hit the road. With a mileage fee, each car would have to be equipped with mileage counter that tracks usage.
Helmy spoke with ROI-NJ to push back on the narrative that Murphy and his inner circle are making major economic decisions without input from the business community - such as the ones announced Monday, when Murphy essentially announced he is opening the state May 19. "I think, since the very beginning of the pandemic, we have been in incredible dialogue with our business partners," he said. Helmy said chief counsel Parimal Garg, deputy chief counsel McKenzie Wilson, chief policy adviser Zakiya Smith-Ellis and Deputy Chief of Staff for Economic Growth Joe Kelley have been just as active. The heads of some business groups may beg to differ.
It's not the first time drivers might experience shuttered pumps at gas stations, but the reason has nothing to do with natural disasters or low supplies. It's a shortage of drivers to deliver the fuel to gas stations, NBC News reports. The National Tank Truck Carriers estimates that a quarter of U.S. tanker trucks have been parked because no one's available to get behind the wheel. . .With the pandemic easing and more people hitting the road for work or vacation, gas prices have been climbing, with the average now reaching $2.88 per gallon, according to AAA. Fuel shortages have already been seen in Arizona, Florida and Missouri because of lack of tank truck drivers-a concern as the busier summer travel time inches closer.
Small businesses and nonprofit groups hardest hit by the coronavirus pandemic now are eligible for additional support under a $5 billion Small Business Administration program. The new round of Economic Injury Disaster Loan assistance, known as Supplemental Targeted Advances, is available for up to 1 million small businesses and nonprofits with no more than 10 employees. Here's who can get the money: Aside from having no more than 10 employees, they must be located in low-income areas and had an economic loss of greater than 50% over an eight-week period since March 2, 2020, compared to the previous year. They can receive $5,000 in grants, meaning the money does not have to be repaid. The funding was included in President Joe Biden's $1.9 trillion coronavirus stimulus law.
Each week, the Energy Information Administration publishes a list of average gasoline prices for the previous three weeks. NJGCA will begin including this list with the Weekly Road Warrior. Remember, these prices are reflective of self-serve everywhere except NJ.
Parts For Sale: Incon TS-1000 tank monitor works well just taken out of service. Printer is aprox 2 months old. Also, Incon 8, tank probes. System replaced because on an Exxon upgrade. Call John Twin Towers Exxon (201) 224-8444
1024_1.jpg)
