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Paul Zimmerman
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Showing 50 posts by Bryan Johnson.

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Attention Illinois Employers: Your Use of Restrictive Covenants Is About to Be Severely Limited

Meet Jane Doe, owner and operator of Chicago-based XYZ Corporation. Though business is booming at XYZ, not everything is as it should be. That’s because John—Jane’s top-performing salesperson—just departed for a cross-town competitor.

When John left XYZ, he took with him a large client base and a mountain of contact information developed over time, potentially a crushing blow to XYZ’s business. In response, and to assure this won’t happen again, Jane decided to present her remaining salespeople with agreements restricting them from competing with XYZ after the termination of their employment. She plans on requiring them to sign within ten days . . . or else. (Read More)

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Delta-8 THC Is All the Rage, But Its Legality Is in the Crosshairs

Delta is very much in the news these days.

The delta variant continues to spread, bringing the total number of COVID-19 cases to 40 million since the start of the pandemic.

Delta Airlines made headlines when it recently announced that its unvaccinated employees will face $200 monthly increases on their health insurance premiums beginning November 1, citing steep costs to cover workers hospitalized with COVID.

And then there’s a delta having nothing to do with the novel coronavirus. Delta-8-tetrahydrocannabinol (THC) is a psychoactive compound naturally occurring in hemp and cannabis and believed by many to be legal at the federal level. (Read More)

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NYC to Require Proof of Vaccination for Indoor Activities

In what may be a preview of things to come throughout the U.S., New York City became the first jurisdiction in the nation to announce that it will require individuals to show proof of vaccination against COVID-19 to enter all restaurants, fitness centers and indoor entertainment venues. Enforcement of this new mandate is expected to begin on September 13. (Read More)

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PPP Loan Forgiveness to Be Made Even Easier for Small Businesses

Some good news to report for certain small businesses that have been issued loans pursuant to the Paycheck Protection Program (PPP).

Beginning next week (August 4 to be exact), those that have borrowed $150,000 or less in PPP proceeds can apply for loan forgiveness directly through an online portal to be launched by the Small Business Administration (SBA). This option streamlines the forgiveness process by taking private financial institutions—the ones that have handled most aspects of the PPP since its inception—out of the mix. (Read More)

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Cannabis Legalization Means Opportunities for Small Businesses

Recent estimates suggest that the size of the global legal cannabis market will climb to $84 billion by 2028. This is a staggering number that spells opportunity for budding cannabusiness entrepreneurs in the U.S.

No doubt about it, with more and more states like New Mexico, New Jersey, New York and Virginia recently hopping on the legal cannabis bandwagon—and it looks to be just a matter of time before Connecticut turns green and fully legalizes weed—there’s certainly room for additional players in the legitimate cannabis space. But before any would-be cannabis operators open their doors for business, a broad range of legal issues must be considered. (Read More)

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American Rescue Plan Signed into Law

As anticipated, President Biden signed the $1.9 trillion “American Rescue Plan” into law today (Thursday), after the sweeping COVID-19 relief package passed both the House and Senate.

The law goes a long way toward turning the corner on the pandemic and kickstarting the U.S. economy left suffering in its wake. As mentioned in a previous alert by Michelman & Robinson, LLP, individuals, state and local governments, small businesses, and/or schools can look forward to the following, among other things: (Read More)

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Senate Approves $1.9 Trillion COVID Relief Bill

After a dose of suspense and a 24-hour-plus voting session that bled into the weekend, the U.S. Senate passed the $1.9 trillion “American Rescue Plan” to provide much-needed relief to individuals, state and local governments, small businesses, and schools in the wake of the COVID-19 pandemic. The bill now goes back to the House of Representatives for final approval, before being sent to President Joe Biden’s desk for signature. (Read More)

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New $1.9 Trillion COVID Relief Bill Passes House, Moves to Senate

Last week, the U.S. House of Representatives passed a massive $1.9 trillion relief bill advanced by President Joe Biden and his administration. Dubbed the “American Rescue Plan,” the legislation now heads to the Senate, where Democrats are hopeful it will reach President Biden’s desk for signature before March 14 (the day unemployment aid programs are set to expire). (Read More)

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A Trend Toward COVID-19-Related Business Interruption Coverage

Based upon a couple of recent rulings, the insurance coverage lawyers at Michelman & Robinson, LLP anticipate that additional courts may give a broader meaning to the phrase “direct physical loss” as it applies to insurers' business interruption coverage responsibilities stemming from COVID-19-related losses. (Read More)

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State Tax Treatment of Forgiven PPP Loans

For purposes of federal income taxation, existing federal law excludes from gross income any amounts of loans made pursuant to the Paycheck Protection Program that are forgiven. This is great news for borrowers, to be sure. But the question remains: how do the states treat forgiven PPP loans? (Read More)