BW INSIGHTS

ESOP SELLER PERSPECTIVES – UNDERSTANDING SECTION 1042 IN ESOP SALES

By Cynthia Boyle Lande & Drew D. Larson | 10.10.2024

Understanding Section 1042: A Tax-Efficient Strategy for ESOP Sales In the realm of Employee Stock Ownership Plans (ESOPs), Section 1042 of the Internal Revenue Code offers a significant tax advantage for business owners looking to sell their company to an ESOP. This provision allows for the deferral of capital gains taxes upon the sale of... Read More

ESOP Seller Perspectives – The Employee and Community Benefits of ESOP Sales

By Cynthia Boyle Lande & Drew D. Larson | 08.21.2024

Selling a company to an Employee Stock Ownership Plan (ESOP) extends far beyond financial transactions—it fosters a symbiotic relationship between the business, its employees, and the surrounding community. The decision to sell to an ESOP brings forth a multitude of benefits that ripple through both the internal workforce and the broader... Read More

ESOP Eligibility: Who’s In, and Who’s Out?

By Cynthia Boyle Lande & Drew D. Larson | 08.14.2024

Employee Stock Ownership Plans (ESOPs) offer unique opportunities for employees to become owners of their company and share in its success. Understanding the rules surrounding ESOP eligibility and properly determining which employees are eligible for participation are crucial for sponsoring employers. In this client update, we will outline the... Read More

Examining OSHA's Walkaround Rule

By Benjamin Merrill | 04.19.2024

In a recent development, the Occupational Safety and Health Administration (OSHA) has finalized a contentious proposed rule regarding the Worker Walkaround Representative Designation Process. Set to take effect on May 31, 2024, this rule has sparked considerable debate, particularly within the manufacturing sector and among legal experts. What is... Read More

Major Economic Growth Attraction (MEGA) Program Passes Iowa Legislation

By Rebekah Jalilian-Nosraty | 04.17.2024

Businesses are invited to invest in Iowa by Iowa Legislators. The Major Economic Growth Attraction program (MEGA program) passed yesterday (4/16) with a vote of 47 yeas and 0 nays . The program offers tax incentives for businesses making capital investments and creating jobs in Iowa. Qualified businesses may receive a tax credit for withholding... Read More

EPA’s Final Rule for particulate matter (PM) NAAQS

By Ellen Hames | 03.07.2024

On February 7, 2024, the U.S. Environmental Protection Agency (EPA) published a Final Rule on its reconsideration of the National Ambient Air Quality Standards (NAAQS) for Particulate Matter (PM), to lower the primary annual PM2.5 standard from 12.0 micrograms per cubic meter to 9.0 micrograms per cubic meter. The EPA retained the current... Read More

Understanding Multi-Employer Workplace Liability

By Benjamin Merrill | 07.11.2023

In several industries, there are situations where multiple employers perform work or are otherwise affiliated with a single worksite. One common example of a multi-employer worksite would be a construction project where a general contractor and numerous subcontractors all work at the same worksite. For example, Iowa Occupational Safety and Health... Read More

What is the Manufacturing 4.0 Technology Investment Program?

By Drew Larson | 02.17.2023

The Iowa Economic Development Authority and Gov. Reynolds announced that an additional $2,000,000 of the funds provided by the American Rescue Plan Act (ARPA) have been invested in the Manufacturing 4.0 Technology Investment Program. The program is intended to help small- and mid-size Iowa manufacturers invest in the adoption and integration of... Read More