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BANNOCKBURN, IL – The Worker, Homeownership, and Business Assistance Act of 2009 was signed into law, providing net operating loss relief for electronics companies.
The NOL relief provision in the bill expands the refund eligibility to medium- and large-sized companies that were previously excluded from relief, permitting businesses to offset 2008 and 2009 losses against previous or future taxable income, according to IPC.
A company can use NOL relief to recover past tax payments or reduce future tax payments. It is the amount by which deductions exceed gross taxable income, resulting in a negative taxable income.
Eligible companies can receive tax refunds by applying NOLs to taxes during the previous five years, says the association. Companies also have the option of carrying the loss forward twenty years to future income tax payments, thereby reducing payments they will need to make in future periods.
NEWARK, NY -- IEC Electronics reported fourth-quarter revenue rose 13.7% year-over-year to $18.3 million.
AUSTIN, TX — Large, non-consumer LCDs shipments were up 41% in the September quarter, compiling their highest sell-through quarter in US commercial distribution history.
SANTA ANA, CA – EMS firms Beyonics Technology and Express Manufacturing have signed a memorandum of understanding under which EMI will offer NPI and product development in the US and Beyonics will perform high-volume production in Asia.
No financial or other terms were disclosed.
The collaboration brings together EMI’s production development technologies and nearly 30 years in the business of NPI and volume production with Singapore-based Beyonics’s multinational EMS services. Beyonics, which is a top 15 global EMS firm, offers PCB assembly, turnkey system assembly, box build, testing, packing and distribution, plastic injection molding fabrication, metal stamping and tooling design.
SAN JOSE – The Semiconductor Industry Association said George Scalise, president of the organization since 1997, would retire at the end of 2010.
The association also said, in connection with the transition, it would relocate its headquarters to Washington, DC. The move is expected to be completed by the end of 2010.
SIA will immediately begin to search for possible candidates for a successor.
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