$100,000 bond required for New Jersey Employee Leasing Companies

Published: Sep 12, 2011

AB 3408: Professional Employer Organizations

This Assembly Bill would revise the current law for employee leasing companies, including the financial requirements. Under existing law companies need to maintain a minimum net worth of $100,000. Under the new bill to be passed the $100,000 net worth requirement will be substituted for a surety bond in the amount of $75,000. Now instead of meeting the minimum net worth requirement the bill would require the company to maintain a positive working capital. If the company fails to do that then it could post a bond, irrevocable letter of credit or securities with a minimum market value that is equal to the amount required for achieving a positive working capital, plus $100,000.

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Victor J. Lance, President/Owner

President at Lance Surety Bond Associates

Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.

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that those who derstoy the earth God will derstoy so do not pay tax, do not sustain the governments that are responsible to the demise of this planet lest you be partakers of their sin, lest you be partakers of their plagues.No question the early Christians pay tax but that is because they’re not yet in power at that time. But today that most countries in the world are now ruled by leaders who claimed to be Christians why do Christians still pays back to Caesar the things of Caesar when they are now supposed to be returning God the things of God all things belong to God (Psalm 24:1) and God’s thing includes that His son is tax exempt as Jesus said What do you think, Simon? From whom do the kings of the earth receive taxes, from their sons or from the strangers?’ Simon said: from the strangers,’ Jesus said to him: then the sons are tax-free.’ (Mat 17:24-26) Each time you pray Our Father you indicate that you are son of God therefore should not pay tax. DO NOT PAY TAX The governments of this world is described in the Bible (Daniel 7; Revelation 17) as beast, if you continue paying taxes you are the ones who feed the beast, cease from supplying food to the beast Anyone conquering will inherit these (all) things, and I shall be his God and he will be my son. But as for the cowards and those practicing spiritism and idolaters and all the liars, their portion will be in the lake that burns with fire and sulphur. This means the second death. (Revelation 21:7,8)
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