Allsup's Uses Tax Reform Savings to Award Employee Bonuses
CLOVIS, N.M. — Full-time, non-executive employees of Allsup's Convenience Stores received a one-time cash bonus of $1,000 on March 15, reported the Santa Fe New Mexican. The company stated that the windfalls were a result of the Tax Cuts and Jobs Act, which was signed into law in December 2017.
"The new tax reform legislation provides tax cuts for individuals and companies and should result in positive economic growth," Allsup's said in a released statement.
Lonnie D. Allsup, founder of Allsup's, endorsed the bonus plan prior to his death in late January.
"Mark and I are pleased to announce this special, one-time bonus to our hard-working employees," said Barbara Allsup, co-founder and owner of Allsup's with her late husband.
Allsup's is one of nearly 440 companies across the United States that have announced bonuses, pay raises, utility rate cuts or 401k retirement plan increases after the legislation was passed, according to the report.
Clovis-based Allsup's operates 317 convenience stores in New Mexico, West Texas and Oklahoma.