This morning, President Obama, signed into law the Three Percent Withholding Repeal and Job Creation Act. The law permanently repeals the requirement that federal, state, and large local governments begin withholding three percent of each payment of $10,000 or more to a contractor after Jan. 1, 2013. Today’s bill signing is the culmination of a five-year effort by MITA, ARTBA and many of stakeholders to repeal the 2006 provision.
If you have any questions or comments, please contact Mike Nystrom at mikenystrom@mi-ita.com or call him at the MITA office at 517-347-8336.
