9 Laws that Regulate U.S. Companies
To legally start and operate a business in the US, you must make sure you’re compliant with all US business laws. Government regulations on business affect all industries. There are different regulations, ranging from federal, state and local laws that control different business practices. Due to the sheer number of these regulations, it can be challenging to know which ones apply to your business.
Here’s a rundown of the most important United States business laws that every business must abide by.
Sales Tax Laws
Sales Tax Laws require businesses to collect tax from their customers and submit them to the state. The business is only liable for sales tax if it has a physical connection to the state. This could be in the form of a brick and mortar shop, warehouse or hiring employees in that state.
Occupational Safety and Health Act
OSHA laws protect employees from hazards that may compromise their health and safety at work. It requires businesses to provide a safe workplace environment free of damaging noise, toxic chemicals, unsanitary conditions and thermal stresses.
Most recently, OSHA has been providing key-health lists in the case that businesses head back to work in the pandemic.
Equal Employment Opportunity Act
The Equal Employment Opportunity Act makes it illegal for businesses to discriminate against employees based on sex, national origin, race, disability, age, color, or religion. It protects workers from retaliation when they file a discrimination claim or lawsuit.
Fair Labor Standards Act
This small business law regulates minimum wage, recordkeeping, overtime pay and child labor rules. It stipulates that employers should pay covered workers the federal minimum wage and overtime.
Family and Medical Leave Act (FMLA)
The FMLA is a United States business law that provides eligible employees with 12 weeks of unpaid leave for family and health reasons. This SMB law offers job protection and requires employers to maintain the employee’s health benefits during the leave. It covers employees who have worked for a minimum of 12 months in a company that employs 50 or more people.
Affordable Care Act
Commonly known as Obamacare, this law covers health care costs, coverage and preventive care. Its main objectives are to make health insurance more available and affordable and expand Medicaid to more low-income people.
Antitrust laws exist to ensure businesses uphold business ethics. It prohibits companies from engaging in predatory business activities such as fixing market prices, monopolization, or conspiracy to boycott a supplier or competitor.
Licensing and Permits Laws
Every state and local governments have different small business laws that regulate businesses. Licensing and permits laws lay out the requirements small businesses should meet to operate.
Truth in Advertising and Marketing Law
Enforced by the Federal Trade Commission, truth in advertising laws aim to protect consumers from fraudulent advertising. It stipulates that the ad must not be misleading, but be truthful and backed by scientific evidence when necessary.
The Coastal Network is an online platform dedicated to exposing corruption and championing transparency advocacy in the Delaware Court System and the business world.
Visit www.coastalnetwork.com for more on business and corruption.