Problem: You need to prove to a bank (or another) that you own your business Imagine you walk into a bank to open a new checking account for your business. The banker says you must provide proof that …
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By altering company deposit slips, an employee was able to embezzle $244,000. She prepared two deposit slips: one put funds into the company’s account and the other put funds into her own bank …
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A strong brand is important, but it is often no replacement for relationships. Rick Tate, a thought-leader on business topics, explains: Merely satisfying customers will not be enough to earn their …
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Employers Ability to Recoup Payments Due to Employees’ Post-Severance Wrongdoing It is common in Minnesota for employers to offer severance compensation to employees. These types of agreements vary …
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Governor Dayton recently approved a package of bills titled the Women’s Economic Security Act to enhance conditions for women in the workplace. A portion of the new law requires businesses in certain …
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We will occasionally meet a company owner who is personally motivated to sell but feels that there are several things that need to be improved before the company is ready to be put on the market. This …
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What is the Program? Legislation passed in 2001—the Sustainable Forest Incentive Act (SFIA)—allows annual payments to be made to enrolled owners of forested land as an incentive to practice long-term …
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This property classification, enacted in 2008, provides a reduced class rate of 0.65 percent to forested property that is subject to a current forest management (stewardship) plan and that meets …
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The Green Acres Program provides property tax relief for owners of agricultural property in areas where the market value of land is being affected by development pressure, sales of recreational land, …
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What is a Special Agricultural Homestead? The Special Agricultural Homestead provision extends homestead status to property owners who do not live on their farm but actively farm their land or who …
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Background During the 2001 legislative session, Minnesota enacted the first state property levy since taxes payable in 1967. The tax is only on certain properties and was enacted as part of a property …
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Special Homestead Classification: Class 1b Special Homestead Classification: Class 1b provides a reduced class rate for qualifying blind/disabled property owners. What is Class 1b? Class 1b provides a …
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This fact sheet is the second in a series of three fact sheets that were designed to assist taxpayers in the understanding of the basic concepts of their annual assessment and property tax …
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This fact sheet is the first in a series of three fact sheets that were designed to assist tax payers in the understanding of the basic concepts of their annual assessment and property tax …
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Each spring your county sends you a property tax bill. Three factors that affect your tax bill are: the amount your local governments (town, city, county, etc.) spend to provide services to your …
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In Minnesota, property is classified according to its use on the assessment date – January 2. If the property is not currently being used, it is classified according to its most probable, highest and …
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Minnesota sales tax applies to lawn and garden maintenance, indoor plant care, tree and shrub services, and other taxable services discussed in this fact sheet. For more information, see: Fact Sheet …
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Minnesota sales tax does not apply to landscaping construction contracts for improvements to real property, but sales tax does apply to landscaping maintenance contracts to maintain a pre-existing …
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In today’s world, new technologies have made it possible for employers to monitor many aspects of their employees’ activity. Recent surveys have found that a majority of employers do monitor their …
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Unfair Competition Unfair competition is not a tort with specific elements; instead it describes a general category of torts which courts recognize for the protection of commercial interests. …
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Background and Origin The Minnesota Business Corporation Act is Minnesota’s adopted version of the Model Business Corporation Act (MBCA), a body of law first published in 1950 with the purpose of …
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2014 Update on Karon Waivers and Spousal Maintenance When divorcing spouses enter into a spousal maintenance agreement, they often include a “Karon waver.” However, many Karon waivers do not include …
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I was recently asked this question: Is posting a private email on social media or an online website illegal? Is it illegal to forward it to a group of people? A person emailed her elected official. …
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If you are like most companies in the Information Age, your confidential information is critical to your competitive advantage. What is Your Company’s Confidential Information? Each company has its …
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In general, a party should not file a motion for default judgment merely because the opposing party’s pleading was untimely served or filed. Attorneys who are new to filing a motion for default …
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On February 24, 2014, the Financial Industry Regulatory Authority (FINRA) announced a $775,000 fine against Berthel Fisher for “supervisory failures related to sales of Non-Traded REITs and Leveraged …
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What’s New in 2013 Certain digital products are taxable Starting July 1, 2013, certain digital products are subject to Minnesota sales and use tax. Some exemptions apply; see below for more …
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Minnesota Revised Uniform Limited Liability Company Act Nearly 200,000 LLCs formed in Minnesota since 1993 will be affected by the new Minnesota Revised Uniform Limited Liability Company Act, which …
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NOTICE: The sales and use tax on repair and maintenance of certain equipment and machinery for businesses has been repealed effective April 1, 2014 This article explains how Minnesota sales and use …
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IMPORTANT: This article is outdated. See guide to Minnesota Sales Tax for Labor, Installation, Construction, and Fabrication, which was updated in 2013. This article explains how Minnesota sales and …
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