BOI Reporting Back in Effect
February 19th, 2025
Contributor: Nikki Murray
On February 18th, the Department of the Treasury (Treasury) announced the new date for the reporting of Beneficial Ownership Information. (BOI Reporting) For companies formed or created on or prior to December 31, 2023, the updated deadline to submit…
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Categories: Business
Minnesota Builders Challenge Misclassification Law
February 18th, 2025
Contributor: Colin Stephenson
TL;DR: Pending lawsuit could delay some misclassification measures, but contractors should keep preparing for March to come in like a lion. Many Minnesota building contractors have spent the winter wondering whether March would “come in like a lion…
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Brand Protection Basics on Federal Trademarks
January 15th, 2025
Contributor: John Greniuk
Federal Trademarks TLDR: Business owners likely do not need to register federal trademarks unless their brand or slogan is highly unique and is used in multiple states’ markets nationwide. What Is a Trademark? A federal trademark is a registration…
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Categories: Business
BOI Reporting Reinstated: Get Ready to Report!
December 24th, 2024
The CTA and FinCEN BOI Reporting Has Been Reinstated TL;DR: BOI reporting requirements are back and reports must be completed by Jan 13, 2025. (Updated as of 2/19 – this requirement has an extension of March 21) What Changed? On December 23, 20…
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FinCEN Updates: BOI Filing
December 23rd, 2024
Contributor: John Greniuk
Ongoing litigation in Texas stops the clock on BOI filing for small businesses. The U.S. District Court in the Eastern District of Texas granted a nationwide preliminary injunction suspending enforcement of the Corporate Transparency Act (“CTA”):…
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Categories: Business
What Happens to a Joint Business in a Divorce in Minnesota?
November 22nd, 2024
What Happens to a Joint Business in a Divorce in Minnesota? Divorcing couples in Minnesota who co-own a business face unique challenges as they navigate the division of marital property. A joint business is often one of the most valuable assets in a…
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What is FinCEN BOI?
November 15th, 2024
What is FinCEN? On January 1, 2024, companies are required to report information to the U.S. Government about who owns and controls the business. This rule was promulgated by Congress in 2021 through the Corporate Transparency Act. This Act was creat…
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Categories: Business
Misclassification Law Will Transform the MN Construction Industry
May 28th, 2024
TL;DR The Employee Misclassification Law will transform the MN construction industry. The agencies involved have extraordinary powers to police it. Contractors need to be prepared to provide extensive documentation on demand to avoid potentially crus…
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Minnesota's ESST: What Business Owners Need to Know
January 25th, 2024
Starting January 1, 2024, Minnesota’s Earned Sick and Safe Time (ESST) law reshaped the landscape for employers. While navigating new policies can feel daunting, understanding ESST’s implications can empower you to proactively manage your…
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Categories: Business
FTC’s Recipe for Restaurant Ruin
January 8th, 2024
Currently, consumers have witnessed many businesses add additional costs to the subtotal such as: living wage, credit card, and large party fees. The FTC has proposed a rule that would ban these so-called “Junk Fees” fees. TL;DR Version: Who: The…
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Categories: Business