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Michigan Small Business Restart Program Accepting Grant Applications Starting July 15
Dykema, July 2020

The State of Michigan has allocated $100 million of CARES Act funding to implement the Michigan Small Business Restart Program to provide grants to Michigan businesses directly impacted by COVID-19. The grants, up to $20,000 each, will be administered by 15 Economic Development Organizations (EDOs) covering all 83 counties in the state. Participating EDOs are listed below...

Supreme Court Affirms Addition of .Com to Generic Term Renders Booking.com Registrable
Dykema, July 2020

In a decision contrary to current Patent and Trademark Office (“PTO”) rules, the United States Supreme Court has found the mark BOOKING.COM as a whole is not generic and that combining a generic term with “.com” does not necessarily result in a composite term that also is generic. Background Booking.com B.V. (“Booking.com”) sought to federally register the mark BOOKING.COM, and related variations, for travel services...

United States Congress Extends PPP Loan Application Deadline to August 8, 2020
Dykema, July 2020

On June 30, 2020, the Senate passed an extension of the Paycheck Protection Program (PPP) to keep the program operating until August 8, 2020. On July 1, 2020, the House also approved the extension for the program which was set to end on June 30. The President is expected to sign the extension shortly...

PPP Loan Forgiveness and Review: Key Observations
Dykema, June 2020

PPP Loan Forgiveness IFR Revisions and Revised Application, Key Observations Part V Once again, the SBA is doling out guidance in small doses, solving some questions, creating new questions and leaving most questions still unanswered. On June 16, 2020, the SBA issued a revised PPP Loan Forgiveness Application, along wit hrelated instructions, and new PPP Loan Forgiveness Application Form 3508EZ, also with related instructions...

U.S. Copyright Office Issues Final Regulation Regarding Short Online Literary Works
Dykema, June 2020

The U.S. Copyright Office has issued a final regulation (37 CFR §202.4) permitting a single, “group” registration for “Short Online Literary Works.” To be eligible, each of the works included in the registration “must be published as part of a website or online platform, including online newspapers, social media websites, and social networking platforms...

Presidential Proclamation Extends Ban on Entry of Immigrants; Adds H-1B, L-1 and J-1 Visa Holders
Dykema, June 2020

Following up on Dykema’s alert from June 18, 2020, President Trump signed a Proclamation that extends his April 22, 2020, 60-day ban on immigrant workers entering the United States until December 31, 2020. In addition, it also added those with H-1B, H-2B, L-1 and J-1 visas and any foreign national accompanying them to this ban. The Proclamation states this was done to address, in part, high unemployment levels due to the coronavirus pandemic...

Possible Presidential Proclamation to Limit Entry of H-1B, H-2B, L-1 and J-1 Visa Holders
Dykema, June 2020

Several reports, including one by the U.S. Chamber of Commerce, indicate President Trump may issue a Proclamation limiting or prohibiting the entry into the United States of foreign nationals holding H-1B, H-2B, L-1 and J-1 visas. H-1Bs are used to employ foreign nationals in specialty occupations (those positions normally requiring at least a Bachelor’s Degree or its equivalent for entry into the field). H-2Bs are for temporary, non-agricultural workers...

U.S. Supreme Court Makes Pride Month History by Holding That Title VII Bars Job Discrimination Against LGBT+ Workers
Dykema, June 2020

Unexpectedly siding with the liberal wing of the Court, Justice Neil Gorsuch penned a 6-3 decision in Bostock v. Clayton County, holding that Title VII’s prohibition on sex-based discrimination also covers sexual orientation and gender identity discrimination. The Court’s decision dealt a historic victory for proponents of expanding gay and trans protections for workers under Title VII of the Civil Rights Act of 1964...

Proposed Legislation Would Create New Protections for Michigan Residential Borrowers and Tenants During States of Emergency
Dykema, June 2020

In response to the ongoing COVID-19 crisis and its resulting adverse effects on the income levels of Michigan residents, a package of bills (2020 SB 912 through 2020 SB 917) was introduced earlier this month to provide additional protections for residential tenants and owner-occupants during a declared state of emergency...

IRS Provides Relief for Projects Eligible for Investment Tax Credit and Production Tax Credit
Dykema, June 2020

On May 27, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-41 (“Notice”) providing COVID-19 relief for businesses seeking to qualify for the production tax credit for renewable energy facilities under Section 45 (“PTC”) of the Internal Revenue Code (the “Code”) and investment tax credit for energy property under Section 48 (“ITC”) of the Code...

PPP Loan Forgiveness and Review: Key Observations
Dykema, June 2020

PPP Loan Forgiveness Expansion: Key Observations Part III On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (the “Act”) was signed into law by the President. It provides for a number of liberalizations of the terms of the Paycheck Protection Program (“PPP”)...

Notice 2020-39: IRS Provides Relief to Qualified Opportunity Funds and Investors Related to COVID-19 Pandemic
Dykema, June 2020

The Novogradac Opportunity Zones Working Group (the “Novogradac Group”) recently wrote to the Commissioner of the Internal Revenue Service (the “Commissioner”) and the Assistant Secretary for Tax Policy of the Department of the Treasury...

Tax Deferral of Employer’s Portion of Social Security Taxes Under Section 2302 of the CARES Act Now Available for PPP Borrowers Without Exception
Dykema, June 2020

Pursuant to the Paycheck Protection Program Flexibility Act of 2020, which was enacted into law on June 5, 2020, taxpayers who take out a loan under the Paycheck Protection Program (“PPP”) of the Coronavirus, Aid, Relief and Economic Security Act (“CARES Act”), all or a portion of which is subsequently forgiven, may now also take advantage of the tax deferral of the employer’s portion of the Social Security taxes under Section 2302 of the CARES Act...

Executive Order No 2020-110: Three Things to Remember as When Planning to Reopen
Dykema, June 2020

With Executive Order No. 2020-110, Governor Whitmer has lifted the stay-at-home order and allowed most businesses in Michigan to reopen—at least to some extent. There are still several sectors that are ordered to stay closed to the public, including non-essential personal care services (hair, nail, massage, etc.), and the Executive Order contains several other restrictions imposed on specific industries...

Quick Reference Guide State Level Shelter-in-Place Orders and Essential Services Provisions
Dykema, June 2020

Coronavirus Disease (COVID-19) is affecting companies across the nation and around the world in a variety of ways. Dykema is closely monitoring the legal ramifications of the crisis and evaluating the potential impact to businesses in a wide variety of industries. This Quick Reference Guide is for informational purposes only and is not intended to be legal advice...

IRS Issues Proposed Regulations Relating to Credits for Carbon Oxide Sequestration
Dykema, June 2020

On May 28, 2020 the Internal Revenue Service (“IRS”) issued proposed regulations providing details for companies that may qualify for carbon oxide sequestration tax credits for qualified carbon oxide that has been securely captured, stored, or disposed of pursuant to Section 45Q of the Internal Revenue Code (the “Code”). Code Section 45Q provides a tax credit on a per-ton basis for CO2 that is sequestered...

Changing PPP Guidance Reinforces Need for Strong Compliance
Dykema, June 2020

Through the recently issued Paycheck Protection Program (PPP) Loan Forgiveness Application and Interim Final Rule on Loan Forgiveness, the Small Business Association (SBA) has once again demonstrated that the contours and requirements of the PPP program are constantly evolving. The SBA’s recent Interim Final Rule on SBA Loan Review Procedures provides some insights on how the SBA will enforce PPP qualification and forgiveness requirements...

Avoid the Ticking Time Bomb
Dykema, June 2020

Sellers and Buyers of Partnership Interests Should Address Centralized Partnership Audit Provisions and Push Out Elections in Membership Interest Purchase Agreements Under the Bipartisan Budget Act of 2015, P.L...

USCIS To Resume Premium Processing
Dykema, May 2020

In a move that will improve the time for obtaining application approvals, the U.S. Citizenship and Immigration Service (USCIS) announced today it plans on resuming premium processing for Form I-129 (non-immigrant worker) and Form I-140 (immigrant worker) petitions in phases throughout June. On June 1, 2020, it will accept Premium Processing requests for all eligible Form I-140 petitions...

PPP Loan Forgiveness and Review: Key Observations - Part II
Dykema, May 2020

The SBA issued anInterim Final Rule(“IFR”) regarding PPP loan forgiveness on May 22, 2020, to supplement thePPP Loan Forgiveness Applicationand instructions issued one week earlier. While the new IFR did not provide a great deal of new guidance, below is a list of our key observations, which supplements our prior observations on the application itself, which are repeated at the end of this Alert...

Treasury and IRS Finalize Section 385 Regulations
Dykema, May 2020

On May 13, 2020, the Department of the Treasury and the Internal Revenue Service (“IRS”) issued final regulations under Section 385 of the Internal Revenue Code (“Code”), T.D. 9897 (“Final Regulations”), which address the classification of certain related party debt as stock or equity for U.S. Federal income tax purposes...

Return To Work Guide: An Employer’s Post-Pandemic Handbook
Dykema, May 2020

As many states and municipalities begin lifting stay at home orders and implementing steps for a phased reopening of businesses, employers should be developing a written “game plan” to minimize the risks of transitioning from a COVID-19 complete or partial shutdown to resumption of business as usual, or business in the post-Pandemic workplace...

PPP Loan Forgiveness Application: Key Observations
Dykema, May 2020

The SBA, in consultation with the U.S. Department of Treasury, issued the Paycheck Protection Program Loan ForgivenessApplicationand related instructions on May 15, 2020. While the application and instructions answer many of our questions about PPP loan forgiveness, it leaves many others open. Treasury has promised that the SBA also will soon issue regulations and guidance that we hope will address these questions...

Still Time to Appeal: Executive Order and Bills Aim to Extend Property Tax Assessment Appeal Dates in Michigan and Provide Additional Tax Relief in Illinois
Dykema, May 2020

The 2020 appeal season is moving and changing quickly, so be sure to not miss any filing deadlines. The deadline for filing petitions with the Michigan Tax Tribunal is set by statute as May 31. On May 14, 2020, Michigan Governor Gretchen Whitmer issued Executive Order 2020-87 (the “Order”), to extend the deadline to protest 2020 property tax assessments to grant some amount of relief to individuals and businesses amid the coronavirus/COVID-19 crisis...

Employer Considerations for Employee Return to Work
Dykema, May 2020

Dykema’s Labor & Employment Practice Group created a Q&A overview addressing best practices for employers to consider when businesses return to work. The document discusses frequently asked questions concerning employer recalls, pay and benefits, medical documentation, personal protective equipment (PPE) requirements, and more...

 

 

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