AGC of America Updates

Legislative Update – 2, February 2, 2015

3 % Withholding Tax on Federal, State & Local Construction Projects

In November 2011 AGC of Kansas working in partnership with AGC of America chapters worked to lobby Congress in passing HR 674 that repealed the 3% Withholding Tax legislation. This legislation would have required contractors performing work over $ 10,000 on federal, state or local funded projects to have 3 % withholding of the contract withheld and placed into an IRS controlled account. This 3 % withholding tax would have been held by IRS and potentially would have been reimbursed to contractors in the form of a credit. AGC of Kansas would like to thank its membership for contacting our Kansas Congressional Delegation for successfully lobbying each of the delegation members to vote to repeal this legislation.

 

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