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Please Click HerePosted on July 2, 2024 by Sara J. Ackermann and Nicole L. Stangl
Late Monday afternoon, a federal judge in Texas denied a marketing firm’s motion for a preliminary injunction to halt the DOL’s new overtime rule. This denial affirms that, for now, employers, other than the State of Texas, must comply with the DOL’s new overtime rule which went into effect Monday, July 1, 2024. As each […]
Posted on July 2, 2024 by John N. Jacobson
The ever-changing landscape of state government requires businesses across all industries to stay informed on the happenings in Madison. Welcome to the June 2024 Recap issue of the Capitol Connection. Inside this issue Vos Recall Denied by Elections Commission Renowned Pollster Visits Ruder Ware New K-12 Literacy Vendor Selected Wisconsin Policy Forum: More FoodShare Recipients […]
Posted on July 1, 2024 by Sara J. Ackermann and Nicole L. Stangl
This past Friday, a Texas federal judge granted a preliminary injunction for the State of Texas, postponing the effective date of the Department of Labor’s new overtime rule. Currently, the injunction is limited only to State of Texas employees. All other employers must still comply with the final rule which went into effect today, July […]
Posted on July 1, 2024 by Amy E. Ebeling and Jacob A. Schraeder
Wisconsin’s marital property laws impact compliance with the Corporate Transparency Act (the “CTA”). As discussed in other Ruder Ware CTA Focus Team insights, the CTA requires a “reporting company” to report information about its “beneficial owners” to the Financial Crimes Enforcement Network (“FinCEN”). The CTA defines a beneficial owner as “any individual who, directly or […]
Posted on June 12, 2024 by Amy E. Ebeling and Ruder Ware Alumni
The Corporate Transparency Act (the “CTA”), part of the federal government’s effort to curtail money laundering by means of shell company structures, imposes disclosure requirements on most entities registered to do business in the United States. As discussed in other Ruder Ware CTA Focus Team insights, there is a presumption that all entities are bound […]
Posted on June 4, 2024 by Amy E. Ebeling and Jacob A. Schraeder
A crucial aspect of compliance with the Corporate Transparency Act (“CTA”) is understanding the various due dates and obligations. A “reporting company” must meet CTA reporting deadlines to avoid potential regulatory penalties. To avoid such penalties for non-compliance, a reporting company must plan ahead to ensure there is sufficient time to conduct CTA analysis, gather […]
Posted on May 30, 2024 by John N. Jacobson
The ever-changing landscape of state government requires businesses across all industries to stay informed on the happenings in Madison. Welcome to the May issue of the Capitol Connection. Inside this issue Wisconsin Senate Votes to Override Nine Gov. Evers Vetoes 8th Congressional District to Remain Vacant Until 2025: Gov. Evers Calls for Special Election to Coincide […]
Posted on May 28, 2024 by Amy E. Ebeling and Jacob A. Schraeder
Trust stakeholders are subject to Corporate Transparency Act (“CTA”) obligations under specific circumstances. Under CTA, a “reporting company” must disclose information about the company and its “beneficial owners.” CTA defines a “reporting company” as any entity that is created by filing a document with a secretary of state or any similar office. A “beneficial owner” […]
Posted on May 15, 2024 by Amy E. Ebeling
The Corporate Transparency Act (CTA) is a recent enactment that mandates increased transparency in entity ownership structures, aiming to combat illicit activities such as money laundering and terrorism financing facilitated by anonymous entities, and has far-reaching implications for entities. CTA was passed as part of the National Defense Authorization Act for Fiscal Year 2021 but […]
Posted on May 9, 2024 by Mary Ellen Schill
On May 9, 2024, the IRS announced the Health Savings Account limits for 2025. With respect to contribution limits, the limits are higher than the ones for 2024 and the required deductible and out-of-pocket maximums have increased as well. As a reminder, these inflation adjusted amounts are effective for calendar year 2025. HSA/HDHP Requirement Cost-of-Living […]