Publications

• Estate and Gift Tax Uncertainty in 2025

  February 18, 2025

  At the end of 2025, the tax exemption for federal estate and gift taxes is scheduled to revert to what it was in 2012 with cost-of-living increases.  Currently, the exemption is $13,990,000 per person.  Given the size of the exemption, the vast majority of people do not need to be concerned about the estate tax […]

• 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 […]

• TEXAS COURT DELIVERS EARLY HOLIDAY GIFT TO MICHIGAN EMPLOYERS

  October 18, 2024

  Michigan employers have faced a level of uncertainty in setting their personnel budgets for 2025 due to the United States Department of Labor’s 2024 Rule that increased the minimum salary for employees exempt from overtime under the Fair Labor Standards Act as Administrative, Executive, or Professional employees. The increase was scheduled in two phases: the […]

• 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 […]

• Federal Trade Commission Non-Compete Ban Put on Ice…For Now

  August 21, 2024

  On Tuesday, August 20, 2024, United States District Judge Ada Brown issued a nation-wide injunction stopping the scheduled September 4th implementation of the Federal Trade Commission’s rule that eliminated almost all non-compete agreements. The ruling was widely expected given Judge Brown’s earlier ruling blocking the ban in Texas in which she expressed significant skepticism regarding […]

• 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 […]

• New Minimum Salary Levels Take Effect

  July 2, 2024

  No Knock-Out at The Bell As we announced in late April, the U.S. Department of Labor (“DOL”) established new minimum compensation amounts effective July 1, 2024, for salaried employees in bona fide executive, administrative, or professional positions. It was widely expected that litigation would be commenced immediately to keep the new levels from being implemented […]

• 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 […]