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Nonprofit Killers No. 1: Loss of Federal Tax Exemption
You Could Lose Your Federal Income Tax Exemption: Corporate or trust income tax at the highest rate (21% for corporations, 35% for trusts, in 2019)[i] applies if a nonprofit entity fails to qualify,...
View ArticleOrganizing an Illinois Not For Profit Entity
By: William A. Price, Attorney at Law, wprice@growthlaw.com, Member, Business and Securities Law Section Council Michael R. Karnuth, Attorney at Law, karnuthlaw@gmail.com, Member, Business and...
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Summary of Families First Coronavirus Response Act (H.R. 6201)
This is a summary of what the President signed on Wednesday, March 18, 2020, after it passed both houses. Employers of employees with 50-500 employees are affected. Department of Labor emergency...
View ArticleCARES Act Paycheck Protection Loans For Indies
You are eligible to receive a government bailout! Fellow indies, whether you are self-employed, independent contractors, or sole proprietors: this could be your salvation. The CARES act, passed into...
View ArticleCARES Act Bailout: Your Nonprofit Is Eligible
You are eligible to receive a government bailout! Under “INCREASED ELIGIBILITY FOR CERTAIN SMALL BUSINESSES AND ORGANIZATIONS,” the Paycheck Protection Program (PPP) explicitly notes that nonprofit...
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Filing For Unemployment Insurance In Illinois As A Business Owner Or...
(Image by Gerd Altmann from Pixabay ) The CARES Act, Public Law 116-46, signed into law 03/27/2020, see https://www.congress.gov/bill/116th-congress/house-bill/748, expanded unemployment benefits to...
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Jim Henson’s Take On Coffee Commercials
If you think your customers will enjoy humor, offer them extreme termination of friendly puppets, like “Mr. Bill”, or Jim Henson’s take on coffee commercials, for Wilkins Coffee:...
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New Federal Corporate Transparency Act Will Add Owner Disclosure Requirements...
Congress included the Corporate Transparency Act (CTA) in the National Defense Authorization Act for FY 2021. The legislation requires filing of information on beneficial owners of new (and eventually,...
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New Illinois Supreme Court Decisions Clarify Biometric Information Privacy Act
Introduction: Two new BIPA Cases Two Illinois Supreme Court decisions recently released, Tims v. Black Horse Carriers, Inc., 2023 IL 127801 and Cothron v. White Castle Sys., Inc., 2023 IL 128004, have...
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What “Accredited Investor” Or Other Investor Type Definitions Apply In Exempt...
What “Accredited Investor” Or Other Investor Type Definitions Apply In Exempt Offerings Rules? By: William A. Price, Esq., Growthlaw.com, Warrenville, IL What is an accredited investor and why...
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