By: Donald C. Erickson, Senior Counsel, Fryberger, Buchanan, Smith & Frederick, P.A., Certified Labor and Employment Law Specialist by the Minnesota State Bar Association As we move into another new year, employers face increased and new workplace challenges to stay abreast of the ever-changing employment laws, to avoid the costs of non-compliance, including working time …
Piercing the Corporate Veil – Does Your Entity Shield You From Personal Liability?
For those who operate or plan to organize a small business as a corporate entity or limited liability company (LLC), the goal is to shield oneself and other stakeholders from personal liability for debts of the business. Many clients ask: “How do I know that I am actually protected?” The truth is, under certain circumstances …
Piercing the Corporate Veil – Does Your Entity Shield You From Personal Liability?Read More
Tax Increment Financing (TIF): What is it and how does it affect new developments?
If you have walked in downtown Duluth in recent months, you may have noticed the two large tower cranes swinging impressively overhead. You may have wondered, how do developers pay for such expensive projects, or why did they choose this location? Of course, financing for such projects is complex and comes from many sources, but …
Tax Increment Financing (TIF): What is it and how does it affect new developments?Read More
New Type of Corporation Gives Entrepreneurs Options
Until now, socially-minded startup entrepreneurs had two choices for their new company: (1) a for-profit corporation or LLC; or (2) a non-profit corporation. Unfortunately, neither choice is ideal if the entrepreneur expects some return on investment, but wants the new company to also provide a social benefit. Non-profit corporations cannot provide a return on investment …
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Estate Planning and Retirement Benefits
One of the final steps in completing an estate plan is to review and revise beneficiary designation forms for retirement accounts and other assets. This article focuses on appropriately naming a beneficiary for a qualified retirement plan. Often times, the answer to the question: “who should be the beneficiary of my retirement account?” is not …
Tips and Updates Related to Construction Contracts
This summer promises to be a busy one for local construction projects. Commercial and residential projects are rapidly increasing in number. And, regardless of whether you are involved in a large commercial project, or looking to update or build a new home, the following practical tips and information will give you confidence when reviewing and …
New County Ordinance Affects Land Divisions
If you are considering buying or selling only a part of an existing tax parcel of land, a new amendment to the St. Louis County Subdivision Ordinance that took effect last summer may affect what you can do. Before subdivision ordinances became common, landowners could divide their property virtually any way they pleased. All that …
Legislative Changes Affecting Business
With the Eighty-eighth Minnesota State Legislature adjourned until February 25, 2014, now is a good time to look back at some of the legislative changes from 2013 affecting businesses in Minnesota. Recovery of Unpaid Wages The Minnesota Supreme Court ruled in September of 2012, in Caldas v. Affordable Granite Stone, that the laws that give …
