ESOP SELLER PERSPECTIVES – BENEFITS OF SELLING TO AN ESOP
12-9-2024 Selling a business is a monumental decision for any owner. It’s not just a financial transaction; it involves the legacy, the workforce, the community, culture, and the future of the enterprise. One increasingly popular method of transitioning ownership is through an Employee Stock Ownership Plan (ESOP). This approach has numerous advantages for...
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SECTION 1202 GAIN EXCLUSION IN SALES TO ESOPS
11-11-2024 ESOPs provide many tax advantages for both sellers and the ESOP-owned company. In addition to all of the ESOP-specific benefits, sales to ESOPs can also potentially qualify for gain exclusion under Section 1202 of the Internal Revenue Code. Benefits of Section 1202 Section 1202 provides significant tax benefits for sellers of qualified small...
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Navigating ESOP Distributions: Method, Form, and Policy
10-22-2024 Understanding ESOP (Employee Stock Ownership Plan) distribution requirements are crucial for compliant operation of your ESOP and managing distribution and repurchase obligations. ESOP plan designs and distribution terms can vary significantly, but all ESOPs are subject to the Employee Retirement Income Security Act (ERISA) and tax rules. In this...
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ESOP SELLER PERSPECTIVES – UNDERSTANDING SECTION 1042 IN ESOP SALES
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...
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ESOP Seller Perspectives – The Employee and Community Benefits of ESOP Sales
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...
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ESOP Eligibility: Who’s In, and Who’s Out?
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...
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What is the Manufacturing 4.0 Technology Investment Program?
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...
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Dental Associate: Your First Employment Contract
09-6-2022 You’re getting ready to graduate dental school. Congratulations! After years of tests, labs, and working in the clinic, you are looking for the perfect job. Once you have secured a job offer, you are faced with a new challenge—the employment contract. Reviewing your employment contract can be intimidating and because you are so excited to have a...
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Considerations for Selling to an ESOP
08-18-2022 An employee stock ownership plan (ESOP) is an employee benefit plan that allows employees to share in the ownership of the company they work for. The shares are held in a trust, established by the company, for the benefit of participating employees. Generally, a company forms an ESOP which then purchases stock from the existing owner(s) at fair...
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New CMS COVID-19 Testing Requirements for Long-Term Care Facilities
09-1-2020 On Thursday, August 27, 2020, Centers for Medicare & Medicaid Services (CMS) publicly filed an unpublished Rule related to COVID-19 testing requirements for long-term care (LTC) facilities. The Final Rule is scheduled for publication on September 2, 2020 and will go into effect immediately. CMS issued a memorandum to State Survey Agency Directors...
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Iowa Dental Board Issues Third FAQ to Assist Dentists with Practice Re-Openings
05-18-2020 The Iowa Dental Board (the Board) has issued a third FAQ to address questions received in response to the “Guidelines for the Safe Transition Back to Practice” and the first and second FAQs previously released. The new FAQ addresses questions from dentists about various topics, including: use of half facepiece respirators, defining “potential...
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UPDATE - Do Health Care Providers Have Legal Immunity When Treating COVID-19 Patients?
04-10-2020 I previously wrote a blog discussing the lack of legal immunity for health care providers treating COVID-19 patients (read here). However, since then, Governor Kim Reynolds, in coordination with the Iowa Department of Public Health (“IDPH”), issued the Personal Protective Equipment (“PPE”) Shortage Order due to PPE limitations. This Order does...
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COVID-19 Prompts Changes to Iowa Certificate of Need Requirements
03-26-2020 On March 17, 2020, Governor Reynolds issued a moratorium of the Iowa Certificate of Need (“CON”) requirements for institutional health care facilities. Included within the definition of institutional health care facilities are hospitals and nursing facilities. Pursuant to the Governor’s proclamation, institutional health care facilities would not...
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HIPAA Fee Limitations for Record Requests
11-21-2019 Health care providers and staff commonly receive medical record requests from current or former patients of their practice for a variety of reasons. The Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) allows for patients to request copies of their own records, with a few limitations, but notably, the regulations also limit...
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Five BrownWinick Attorneys Rank in Chambers High Net Worth 2024 Publication
07-29-2024 BrownWinick is pleased to announce that five members of our Estate Planning team have been ranked in the Chambers and Partners - High Net Worth 2024 publication in the area of Private Wealth/High Net Worth Law in Iowa. Additionally, our Estate Planning practice as a whole was ranked Band 1 in Iowa. Ranked Attorneys Robert Hodges – Band 1 Christine...
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Eight BrownWinick Attorneys and Four Practice Areas Recognized in Chambers USA 2024 Guide
07-19-2024 BrownWinick is proud to announce the recognition of several of its attorneys in the prestigious Chambers USA 2024 guide (will Link to PDF in HubSpot). Chambers USA is an esteemed legal directory that evaluates and ranks attorneys and law firms based on their legal expertise, professional achievements, and client feedback. The rankings and...
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Celebrating Transitions in Our Executive Committee
07-16-2024 Our organization is always evolving, and the contributions of our Executive Committee members are key to our success. Today, we're taking a moment to honor the dedication of one member, announce re-elections, and welcome new faces to our leadership team. A Heartfelt Farewell to Mandy Hughes After six remarkable years of dedicated service on the...
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33 BrownWinick Attorneys Named to Best Lawyers® in America 2025 List
07-9-2024 BrownWinick is pleased to announce that 33 of our lawyers have been included in the 2025 Edition of The Best Lawyers in America. Since it was first published in 1983, Best Lawyers® has become universally regarded as the definitive guide to legal excellence. BrownWinick would like to congratulate the following attorneys named to the 2025 The Best...
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BrownWinick Attorneys Named to 2024 Best Lawyers® List
08-17-2023 BrownWinick is pleased to announce that 33 lawyers have been included in the 2024 Edition of The Best Lawyers in America. Since it was first published in 1983, Best Lawyers® has become universally regarded as the definitive guide to legal excellence. BrownWinick would like to congratulate the following attorneys named to the 2024 The Best Lawyers...
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Chambers USA 2023 Guide Recognizes Eight BrownWinick Attorneys and Four Practice Areas
06-1-2023 BrownWinick is proud to announce the recognition of several of its attorneys in the prestigious Chambers USA 2023 guide. Chambers USA is an esteemed legal directory that evaluates and ranks attorneys and law firms based on their legal expertise, professional achievements, and client feedback. The rankings and accolades received in Corporate/M&A,...
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2023 Great Plains Super Lawyers and Great Plains Rising Stars Feature BrownWinick Attorneys
06-1-2023 BrownWinick is excited to announce the following attorneys were selected for inclusion in the Great Plains Super Lawyers directory for 2023. The Great Plains Super Lawyers and Rising Stars listings include the states of North Dakota, South Dakota, Iowa, and Nebraska. Nine BrownWinick attorneys were selected for inclusion in the 2023 Great Plains...
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BrownWinick Law Firm Attorneys Featured in 2021 Great Plains Super Lawyers and Great Plains Rising Stars
08-20-2021 BrownWinick is excited to announce the following attorneys were selected for inclusion in the Great Plains Super Lawyers directory for 2021. Seven BrownWinick attorneys were selected for inclusion in the 2021 Great Plains Super Lawyers online listing: William Brown - Tax Michael Dee – Business Litigation Thomas Johnson – Business/Corporate James...
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Chambers USA 2021 Recognizes BrownWinick Attorneys and Practices
05-25-2021 BrownWinick, a preeminent business law firm with offices in Des Moines and Pella, has once again been ranked among leading law firms in the exclusive Chambers USA 2021 Guide. The Chambers USA 2021 Guide is compiled through a research-based review that evaluates the multiple practice areas of hundreds of law firms through investigative research and...
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BrownWinick Attorneys Featured in 2019 Great Plains Super Lawyers and Great Plains Rising Stars
07-11-2019 Eleven BrownWinick attorneys were selected for inclusion in the 2019 Great Plains Super Lawyers online listing: William Brown – Tax Elizabeth Coonan – Employment and Labor Michael Dee – Business Litigation Alice Helle – Employee Benefits Thomas Johnson – Business/Corporate Ann Holden Kendell – Employment and Labor James Pray – Environmental Brian...
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