The state has come through–well, sort of. Last night, the New Jersey Senate voted to do away withthe so-called “gift card law,” the legislation that required sending the unused balance of residents’ gift cards to the state’s coffers. The law, passed in 2010, was meant to protect consumers by forcing gift card companies to hand
State Tax Snapshot: Gift Cards Targeted for Escheat Enforcement
Gift cards are exempt from unclaimed property reporting requirements in many states. In states where gift cards are subject to escheatment, a three-to-five year presumed abandonment period applies. But a growing minority of states are stepping up their efforts to subject unredeemed gift card amounts to escheatment.
Gift card exchanges began popping up after consumers started selling or trading their unused gift cards on their own – often through unsafe channels. RGCA recommends consumers to educate themselves on gift card exchanges before selecting one. Read the full story.
WASHINGTON D.C., July 8, 2014 – Americans love giving and receiving gift cards. They are always in demand and present retailers with significant incremental sales opportunities. This is according to new consumer research from the Retail Gift Card Association (RGCA). The Association surveyed more than 1,100 US consumers on their use of gift cards, preferences
BENTONVILLE, Ark., April 4, 2012 /PRNewswire via COMTEX/ — According to Walmart customers, when it comes to celebrating the spring’s biggest family holiday, Easter, the ability to personalize their Easter basket and including fresh ingredients in the family meal are key motivators. Walmart listened and has broadened its Easter assortment to ensure customers can purchase