Resources

During the 2024 U.S. presidential campaign, President-elect Donald Trump promised to impose a variety of new tariffs. President Trump may seek to immediately apply levies of up to 20% on all imports, 25% on items from Mexico and Canada, and 60% on items from China. To mitigate some effects of the additional tariffs, many importers have already started to evaluate the applicability of well-known methods to avoid, exclude, delay, or recoup the expected tariffs.

A potential refund opportunity under the Michigan corporate income tax may justify taking action before year end. The issue concerns the Michigan Department of Treasury’s position that the Internal Revenue Code 163(j) interest expense limitation must be calculated on a separate entity basis rather than a unitary group basis, a position which Miller Canfield is challenging on behalf of several clients. The limitation period for refunds for tax year 2019 for most companies will expire on December 31, 2024, and therefore time is of the essence to protect the right to recover overpaid taxes for that year.

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily enjoining the Corporate Transparency Act (CTA), 31 U.S.C. §5336 and its implementing Reporting Rule, 31 C.F.R. 1010.380. The court also stayed the January 1, 2025 compliance deadline.

During his 2024 presidential campaign, President-elect Donald Trump promised to impose a variety of new tariffs, even without congressional approval. But can a president really levy such tariffs without congressional consent?

The Gift and Estate Tax Exclusion is currently scheduled to be reduced by approximately 50% in about 13 months.  Without action from Congress, on January 1, 2026, the Exclusion will go from almost $14 million to about $7 million.  But with Republicans taking over the presidency, House and Senate in 2025, the increased Exclusion could be extended.  For families with more than $14 million, this legal uncertainty creates gift planning uncertainty.

The United States Patent and Trademark Office ("PTO") has issued its Final Rule adjusting filing fees at all stages of the trademark application and maintenance filing process. The new fees will take effect on January 18, 2025.

The United States Patent and Trademark Office (USPTO) has issued its Final Rule with adjusted filing fees at all stages of patent and trademark application filings through maintenance fees. The fee increases will take effect on January 19, 2025.

On November 15, 2024, the United States District Court for the Eastern District of Texas blocked the Department of Labor’s 2024 Rule that would have expanded entitlement to overtime wages for millions of American workers. The decision to vacate and remand the rule back to the department for further consideration applies nationwide. 

HB 5100 and HB 5101, as passed by the Michigan House of Representatives and Senate, and to be signed by Governor Gretchen Whitmer, provide a new income tax credit. For tax years beginning on and after January 1, 2025, Michigan will allow an income tax credit for qualifying research and development expenses incurred in the calendar year.

Can employers force workers to sit through a meeting where its (critical) views of unionization are presented to dissuade them from joining a union? The National Labor Relations Board ruled that mandating employees to attend these so called “captive-audience meetings” violates Section 8(a)(1) of the National Labor Relations Act (NLRA). This decision, resulting from a case involving Amazon’s mandatory anti-union meetings at its Staten Island facilities, overturns a significant 1948 ruling that had previously permitted companies to hold mandatory gatherings to present opposing perspectives on union formation, justified by Section 8(c) of the NLRA, which protects employers’ right to express opinions.