Business Law

• U.S. DEPARTMENT OF TREASURY SUSPENDS ENFORCEMENT OF CERTAIN FINES AND PENALTIES UNDER THE CTA

  March 4, 2025

  In a news release issued on March 2, the U.S. Department of Treasury announced that it will discontinue enforcement of penalties and fines under the Corporate Transparency Act’s (“CTA”) current beneficial ownership information reporting rule with respect to U.S. citizens, domestic reporting companies, and their beneficial owners. However, the reporting requirements will remain in effect […]

• Corporate Transparency Act Reporting Requirements Reinstated

  December 24, 2024

  On December 23, 2024, the Fifth Circuit Court of Appeals issued an order staying the preliminary injunction granted by a Texas District Court in Texas Top Cop Shop, Inc. v. Garland. As a result, the requirement for companies to report beneficial ownership information is reinstated, effective immediately. While many reporting companies were previously required to […]

• Federal District Court Issues Temporary Injunction Against Corporate Transparency Act Nationwide

  December 5, 2024

  The Eastern District of Texas issued a nationwide preliminary injunction on December 3, 2024, pausing the reporting obligations imposed by the Corporate Transparency Act (CTA). The decision, Texas Top Cop Shop, Inc. v. Garland, comes shortly before a significant reporting deadline on January 1, 2025 – the date on which companies in existence as of […]

• THE IMPACT OF CONNELLY V. UNITED STATES ON SUCCESSION PLANNING FOR BUSINESS OWNERS

  October 3, 2024

  On June 6, 2024, the Supreme Court of the United States ruled in a 9-0 decision that life insurance proceeds from a company-owned policy used to redeem a deceased owner’s interest in a closely held business must be included when calculating the value of that owner’s interest for federal estate tax purposes. The Court’s ruling […]

• Navigating the Process of Obtaining a Liquor License

  August 20, 2018

  For a business owner or entrepreneur looking to obtain a liquor license or buy a licensed business, the process of applying for and receiving approval from the Michigan Liquor Control Commission (“MLCC”) can be daunting and, at times, frustrating. Depending on the business you are running or hoping to run, there are several different types […]

• Michigan High Court Revives Paid Sick Leave Requirements and Minimum Wage Hike with Significant Impact for Michigan Employers

  July 31, 2024

  On Wednesday, July 31, 2024, the Michigan Supreme Court issued a sweeping change to employers’ bottom line. The Court held that the state legislature acted unconstitutionally when it adopted but then amended in the same session two 2018 ballot initiatives providing earned paid sick leave for most Michigan workers and increasing the minimum wage for […]

• Understand the Impacts of the Proposed Marijuana Reclassification

  June 7, 2024

  On May 21, 2024, the Department of Justice (DOJ) proposed a rule which, if enacted, would “transfer marijuana from schedule I of the Controlled Substances Act (CSA) to schedule III of the CSA.”1 Before the rule can be enacted, a 60 day comment period is given to allow members of the public to voice their […]

• The Federal Trade Commission and The Department of Labor Announce Final Rules that Impact Employers

  April 24, 2024

  Employers Hit With Double April Whammy! On a day that may be remembered as Armageddon Tuesday by Employers, the Federal Trade Commission (FTC) and The Department of Labor (DOL) both announced final rules on Tuesday, April 23, 2024, that will have major implications for virtually every employer. The Federal Trade Commission rule bans almost all […]

• American Privacy Rights Act: Key Lawmakers Reach Compromise on Bipartisan, Bicameral Comprehensive Data Privacy Legislation

  April 15, 2024

  On April 7, 2024, nearly two years after Congress’s last attempt to pass a national data privacy law, Senator Maria Canwell, chair of the Senate Commerce Committee, and Rep. Cathy McMorris Rodgers, Chair of the House Energy and Commerce Committee, unveiled the American Privacy Rights Act of 2024 (the “Act”). With an increasing number of […]

• Alabama Federal Court Finds Corporate Transparency Act Unconstitutional: Why Your Business Still Needs to Comply

  March 6, 2024

  What happened? On March 1, 2024, a federal district court in Alabama held the Corporate Transparency Act (“CTA”) – federal legislation that requires businesses to submit beneficial ownership information reports (a “BOI Report”) – to be unconstitutional. In this particular case, the National Small Business Association sought injunctive relief which would prevent the application of […]