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Posts from March 2012.

Many corporations, both public and closely held, have experienced problems with the commercial insurance markets and, as a solution to these issues, have set up their own “captive” insurance companies. Each corporation has done this for its own reasons – but are they reasons that may make sense for your business, too? The economics have developed so that even smaller companies with significant risks can profitably operate a captive.

Updated from article that first appeared Feb. 21, 2012, on the Central Indiana Community Foundation Website 

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (TRA 2010) increases the federal gift, estate and generation skipping transfer tax exemptions to $5 million (plus an adjustment for inflation, for 2012). However, as of Jan. 1, 2013, such exemptions will fall to $1 million (except that the generation skipping transfer tax exemption will be higher, after an adjustment for inflation). The obvious tax planning implication of TRA 2010 is that it may make sense, from a “death tax” planning standpoint, to gift assets for the benefit of family members in 2012, in order to (i) utilize the higher federal transfer tax exemptions while they are “certainly” available, (ii) remove future appreciation from the federal taxable estate, and (iii) possibly reduce Indiana inheritance taxes.

Posted in Estate Planning

The Indiana legislative session has come to a close and Gov. Mitch Daniels has signed on the dotted line. After many years of legislative proposals from the Indiana Bar and given the state’s fiscal surplus, Indiana has paved the way to put an end to one of the reasons we are home to so many “snow birds” – the Indiana Inheritance Tax. Indiana has one of the highest state death taxes in the country, with rates that top 20 percent. With the enactment of this law, once the credit is fully implemented, Indiana will become one of the more favorable tax jurisdictions. The newly inked law provides many favorable death tax law changes:

Posted in Government

Newly enacted Indiana legislation will increase the amount of paperwork produced by water utilities of all types. Senate Enrolled Act No. 132 provides that all water utilities must report to the Indiana Utility Regulatory Commission (IURC) certain data, such as number of customers, service territory, total utility plant in service, amount, availability and location of water ...

The U.S. Equal Employment Opportunity Commission (EEOC) has recently released a revised publication addressing the rights of veterans with disabilities under the Americans with Disabilities Act (ADA).

What does this mean for employers?

In 2010, there were approximately 22 million veterans in the United States seeking to return to civilian life after serving on active duty in the ...

Posted in Estate Planning

The Indiana General Assembly has passed legislation which, effective July 1, 2012, provides that child support – other than for educational expenses – now generally terminates at age 19 rather than age 21.  Prior to this enactment, Indiana was in a minority of states that provided for child support payments to continue until age 21 in most cases.

Posted in Estate Planning

The Indiana legislative session has come to a close. After many years of legislative proposals from the Indiana Bar and with the state’s fiscal surplus, Indiana has paved the way to put an end to one of the reasons we are home to so many “snow birds” – the Indiana Inheritance Tax. Indiana has one of the highest state death taxes in the country with rates that top 20 percent. Assuming ...

The National Labor Relations Board’s (NLRB) controversial notice rule has faced multiple legal challenges since it was published in December 2010. The rule, which requires most private employers to post a notice that informs employees of their rights under federal labor law, has been delayed twice and challenged by two lawsuits.

On March 2, 2012, the first of these lawsuits was ...

On Feb. 10, 2012, the U.S. Environmental Protection Agency (EPA) released to the Integrated Risk Information System (IRIS) database its final health assessment of tetrachloroethylene (PCE and commonly referred to as PERC), a common dry-cleaning and degreasing solvent.  The 2012 IRIS PCE assessment replaces an earlier IRIS assessment of PCE finalized in 1988.  Unlike the 1988 IRIS ...

The U.S. Department of Labor recently announced a new proposed regulation intended to encourage most employers that contract or subcontract with the federal government to have disabled employees make up at least 7 percent of their workforce.  Employers who fail to comply could face the prospect of losing their federal contracts and being barred from bidding for future contracts until ...

In case you missed it, 33 of Bingham Greenebaum Doll LLP’s Louisville attorneys were recognized in Louisville Magazine’s “Top Lawyers” issue. The list of “Top Lawyers” was compiled from a survey of over 3,000 attorneys who are members of the Louisville Bar Association. This peer review survey asked each attorney to list the top three attorneys in the Louisville area ...

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