Newsletters & Publications
IRC 642(c) Plans, referred to as “Pooled Income Funds” offer unique ways for participants to utilize tax favored deferred compensation.
A. Summary of the New Rules
The Bipartisan Budget Act of 2018 ("Act") includes three provisions that expand the availability of hardship distributions under a qualified retirement plan, each of which is described below.
An employee handbook is an important tool that employers use to communicate with employees about important workplace issues and can serve as an excellent defense to claims.
It can be hard enough for an employer to understand its obligations under state workers’ compensation laws. But it can be downright overwhelming when the myriad of other state and federal statutes, such as the Americans with Disabilities Act and the Family and Medical Leave Act, also come into play.
In May 2017, the City of Detroit announced its intention to implement a city-wide effort to enforce tougher rental ordinance rules on landlords, including demanding that rental properties be registered and brought into compliance.
Under various statutes, certain types of property, owned by certain entities, and used for certain purposes, are exempt from paying property taxes in Michigan. But there is an exception to this exemption meant to address situations where the property is exempt based on ownership, but is leased to a non-exempt entity.
Most municipalities own at least some real property and often such property is underutilized. An effective way for a municipality to monetize that asset, and raise extra revenue, is to lease the property to a tenant.
The Michigan Open Meetings Act (“OMA”) is meant to enhance transparency, but its application is not always straightforward. Often, violations of the OMA are not intentional, but rather occur due to lack of knowledge about the law’s requirements.
Looking to enhance business productivity and performance? This article addresses the best practices involved in holding great meetings.
We are fielding questions from companies about who they can talk to about the impact of the increase in tariffs on their business (whether that is increase in US tariffs on imports or increases in foreign tariffs on US exports).
Acquiring Michigan agricultural property involves a number of legal issues. One that should be addressed with an attorney is the effect of the acquisition on the qualified agricultural property exemption (“Ag Exemption”).
If you have someone work for you, then you, the employer, need to determine whether you have hired an “independent contractor” or an “employee.” “Classification” is the term employment lawyers use to sort out whether the worker is an employee or an independent contractor.
Tractors, trucks and other vehicles used by the farmers working their fields must, like all vehicles traveling on public roads, be registered and have some form of identification.
On June 21, the United States Supreme Court reversed a 26-year old precedent set in Quill Corp. v. North Dakota ("Quill") by holding that businesses without a physical presence in a state may be subject to sales tax as a result of making sales into the state.
Michigan has the second longest coastline in the United States trailing only the state of Alaska. With the hot summer months quickly approaching, Michigan’s expansive coastline (including inland shorelines) will be taken over by beachgoers.
While Minnesota is well known as the "Land of 10,000 Lakes," the State of Michigan could also claim that title as it contains more than 11,000 inland lakes. The Michigan Economic Development Corporation notes that anyone living in Michigan is never more than six miles away from a lake or stream.
On June 6, 2018, the Michigan legislature voted to repeal Michigan’s prevailing wage law, which required union scale wages on public construction projects.
It is well established that the Michigan Worker's Disability Compensation Act (the "Act") provides that the recovery of benefits under the Act shall be the injured employee's exclusive remedy against an employer.
Public pension systems are increasingly underfunded. Data released in 2017 indicates that the median state funding ratio (the percentage of assets that a state has available for future payments to retirees) fell to 71.1 percent in 2016, down from 74.5 percent in 2015.
With summer right around the corner, many Michigan employers are staffing up with interns to help out with the workloads, and also as part of recruiting programs.
The United States Supreme Court gave employers a big win this week by ruling, in a 5-4 vote, that employers can enforce agreements that require employees to arbitrate disputes individually and waive the right to pursue such claims in collective or class actions.
For over 25 years, local, state, and federal governments have utilized public-private partnerships (P3s) to design, build and finance infrastructure, economic development, and social infrastructure. It is recognized as a seasoned, reliable delivery method.
The other day I arrived home after a day at the office and noticed someone had delivered (i.e. tossed in my yard) a recent copy of the yellow book where you can turn the pages in search of businesses who sell products and services that you may need. You know … the phone book.
Generally, meetings of public bodies must be open to the public according to the requirements of the Open Meetings Act ("OMA"), 1976 PA 267. So, how can a public body maintain the confidentiality of attorney-client privileged information that must be discussed by the board, council or commission?
Foster Swift is a nationally recognized Bond Counsel and Disclosure Counsel firm. We advise and represent Michigan townships on all aspects of borrowing money and issuing bonds, and also public private partnership (P3) projects.
Several municipalities in the state of Michigan (and nationwide) have filed lawsuits against drug manufacturers and distributors alleging deceptive marketing in the sale of opioids, including OxyContin and Fentanyl
Property tax exemptions can have a big impact on local communities. Although exempt properties do not generate tax revenue for local units or tax-sharing units (like schools and libraries), exempt properties still use tax-funded services, like police and fire protection. An increase in tax-exempt properties can in turn increase the strain on local budgets.