Category: Business Law
New Illinois Laws to Know for 2019
Over 200 new laws have already taken effect for 2019 in Illinois. Below are a few that could impact you on a day to day basis. 1. Employee Expense Reimbursement In case you missed it from a previous newsletter, Illinois now requires that all employers reimburse their employees for personal phones or computers that are
Intellectual Property: Rethinking Your Tax Strategy
Along with many other changes to the corporate tax structure, the Tax Cuts and Jobs Act (TCJA) of 2017 also impacted the treatment of income generated by intellectual property. If your business generates income from its intangible assets, such as licenses and patents, it may be time to rethink your tax strategy. On the one
Future Energy Jobs Act: Solar Farms
The Illinois Future Energy Jobs Act, implemented last year, requires that Illinois utilities get 25% of their retail power from renewable sources by the year 2025. This was significant news for the solar power market, and the state has seen a boom in large solar farms. Proposals to construct a solar farm have flooded the
Properly Administering a Litigation Hold
When your company faces a potential lawsuit, it is of the utmost importance to begin preserving any documents that could be considered relevant to the case. This is done through the issuance of a litigation hold directive to employees, informing them of what documents to preserve and segregate in order to maintain that preservation. In
Medical Marijuana in Schools
Governor Rauner has signed legislation that permits medical marijuana to be used in Illinois schools. House Bill 4870 allows a parent or a child’s guardian to administer medical marijuana to students at school. The parent/guardian must be registered with the Department of Public Health, and the legislation does not allow school personnel to administer the
Age Discrimination: Employer Recruiting Practices Under Fire
Identifying age discrimination in the employment process can sometimes be a daunting task, since the discrimination can often be concealed. Experience caps on jobs as well as targeted job advertisements that only appear on the social media pages of certain age demographics are examples of how alleged age discrimination has entered the digital world. In
IRS to Crack Down on “Independent Contractors vs. Employees”
The IRS has begun a crackdown on the classification of individuals in the workplace. Specifically, the IRS is beginning to examine whether an individual meets the requirements of an independent contractor or if they are, in fact, actually an employee. The IRS currently estimates that 80% of workers that are classified as “independent contractors” are
Big Benefits for Women-Owned Businesses
As the amount of women business owners in the United States continues to grow at a rapid rate, the federal government, along with state and local governments, are offering opportunities to promote this expansion. By certifying your business as a Women-Owned Small Business or a Woman Business Enterprise, you and your business can get access
City Program Supports Local Businesses on the South / West Sides
Businesses located on Chicago’s South and West Sides will soon receive another round of grants from a program that sets aside millions in fees from the City’s flourishing downtown building development. The program, called the Neighborhood Opportunity Fund (“Fund”), was started in 2016 by Mayor Emmanuel. As part of the program, Emmanuel first expanded the
Could Your Private Business Benefit from a Board of Directors?
While normally associated with large publicly-traded businesses, instituting a board of directors could significantly help your private or family-owned business achieve and maintain success. While “fiduciary boards” have a responsibility to protect and act on behalf of the shareholders for publicly-traded businesses, “advisory boards” evaluate business opportunities and provide non-binding advice to management for private-held