HSB Blog
HSB Webinar Announcement: 2025 Employment Law Legislative Preview
January 13, 2025
Click here to view a recording of this complimentary webinar presented by HSB’s Employment Law team.On January 23, Katie Busbee and Joseph Dickey presented on key issues impacting employers this year in our 2025 employment law legislative preview.
Navigating FinCEN Compliance: Quickly Approaching Deadlines for Businesses formed before 2024
November 20, 2024
Important Update:
2/20/2025: The injunctions on the Corporate Transparency Act detailed below have all been lifted. As of February 20, 2025, the deadline for most companies to file their BOI Report is March 21, 2025. All companies formed on or prior to February 20, 2025, must file their initial BOI Report, and update any previously filed reports if necessary, by March 21, 2025. All companies formed after February 20, 2025, have 30 calendar days to file their initial BOI Report. Note, if a reporting company’s principal place of business is located in an area designated by both FEMA and the IRS as qualifying an individual for public assistance and filing relief as a result of a hurricane or other natural disaster, the reporting company may have a further extension to file its BOI Report. Additional information can be found on FinCEN’s website. We are closely monitoring developments and legislation and will continue to provide updates on this blog as soon as they are available.
1/27/2025: On January 23, 2025, the U.S. Supreme Court granted the government's motion to stay a nationwide injunction issued by the U.S. District Court for the Eastern District of Texas in Texas Top Cop Shop, Inc. v. McHenry (formerly Texas Top Cop Shop, Inc. v. Garland). However, a separate nationwide order in Smith v. U.S. Department of the Treasury from another federal judge in Texas remains in effect. As a result, reporting companies are not currently required to file beneficial ownership information with FinCEN, despite the Supreme Court's decision. They may, however, choose to voluntarily submit these reports.
12/27/24: On December 26, 2024, the United States Court of Appeals for the Fifth Circuit vacated its own stay of the nationwide injunction. Thus, Reporting Companies are not obligated to comply with the Corporate Transparency Act at this time. We will continue to provide updates on this issue.
12/26/24: On December 23, 2024, the United States Court of Appeals for the Fifth Circuit lifted the nationwide injunction prohibiting the enforcement of the CTA. Thus, Reporting Companies are once again obligated to comply with the Act. Fortunately, however, FinCEN extended the January 1, 2025 deadline for reporting companies to January 13, 2025.
12/3/24: A nationwide preliminary injunction has been issued prohibiting the enforcement of the CTA and the required reporting filed thereunder. This means companies are not currently required to comply with the January 1, 2025 reporting deadline. However, an appeal has been filed by the Department of Justice so the injunction could be lifted or amended at any time. Therefore, we recommend continuing to gather the information needed to complete the report as if the January 1, 2025 deadline were still in effect. It is optional whether you want to go ahead and voluntarily file the BIO report or wait for further court action.
A variety of businesses, such as LLCs, LLPs, partnerships, and corporations, formed before January 1, 2024, have until January 1, 2025, to file their initial report with the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).
$44K and $59K FLSA Thresholds Struck Down by Texas District Court
November 18, 2024
The U.S. District Court for the Eastern District of Texas has vacated and set aside the Department of Labor’s rule raising the salary threshold for exempt employees under the Fair Labor Standards Act (FLSA). The decision strikes down both the $44K salary threshold that took effect on July 1, 2024, and the $59K salary threshold that was set to take effect on January 1, 2025. The Department of Labor may appeal the ruling, but for now (and likely continuing under the incoming Trump administration), the raised salary thresholds are nullified.HSB Webinar Announcement: Navigating Religious Accommodations and Bias in the Workplace: Legal Obligations and Best Practices
November 04, 2024
Click here to view a recording of this complimentary webinar presented by HSB’s Employment Law team.On November 21, Chris Gantt-Sorenson and Katie Busbee discussed legal obligations and best practices for navigating religious accommodations and bias in the workplace.
New law provides for the ability to place a “Transfer on Death” designation on titled personal property
October 22, 2024
In South Carolina, there's a new law that lets you add a "Transfer on Death" (TOD) designation to the title of personal property like cars, boats, or mobile homes. This means you can name someone to automatically receive the property when you pass away, without going through probate.HSB Webinar Announcement: Politics in the Workplace
October 08, 2024
Click here to view a recording of this complimentary webinar presented by HSB's Employment Law team.On October 24, Chris Gantt-Sorenson discussed the impact of politics in the workplace.
HSB Webinar Announcement: Aligning Investigations and Policies with 2024 EEOC Standards: A Toolkit for HR Professionals
September 06, 2024
Click here to view a recording of this complimentary webinar presented by HSB's Employment Law team.On September 26, Chris Gantt-Sorenson covered the EEOC's 2024 Enforcement Guidance on Harassment in the Workplace in detail, providing employers and human resource professionals an understanding of how the Guidance impacts EEOC's investigations and considerations of Charges of Discrimination and Harassment filed with the agency.
To Non-Compete Agreement or to Not? That is the Question.
August 14, 2024
Update:On August 20, 2024, a federal district judge in Texas issued an order that blocks the FTC’s new non-compete rule from taking effect on September 4, 2024. The ruling, which was made in the case of Ryan LLC v. Federal Trade Commission (N.D. Tex.), applies nationwide. The judge determined that the FTC lacked authority to promulgate regulations with respect to unfair methods of competition, and that the new non-compete rule is arbitrary and capricious. The FTC has an option to appeal the ruling to the Fifth Circuit Court of Appeals.
HSB Webinar Announcement: Federal Court Halts FTC's Non-Compete Ban - What Now?
August 13, 2024
Click here to view a recording of this complimentary webinar presented by HSB's Employment Law team.House Bill 4087 Revamps Tax Credits for Business Growth and Sustainability
July 03, 2024
By: Will Johnson and Dennard Small (2024 Summer Law Clerk, 2L at University of South Carolina School of Law)House Bill 4087* (H.4087) advances income tax credits for corporate headquarters, recycling facilities, job development and retraining by amending the South Carolina Code of Laws to update portions of the South Carolina Income Tax Act and the Enterprise Zone Act of 1995.
