SBM Business Law Section eNewsletter

February 2012

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Chair's Letter from
Edwin J. Lukas

The Section is pleased to be returning to Grand Rapids for the 24th Annual Business Law Institute. Scheduled for May 4 and 5 at the Amway Grand Plaza Hotel, the Institute is an indispensable component of your annual Section membership. Please take the time to register today.

The Institute truly delivers expert advice on the best ways to respond to the changing landscape of business practice in today's economy. In addition to updates on recent developments in business legislation and case law, this year's agenda includes a number of compelling sessions. With the SEC's likely adoption of regulations reflecting the convergence of U.S. generally accepted accounting principles with International Financial Reporting Standards (IFRS), you will learn how these regulations will affect all of your clients and draft language in deal documents to address IFRS. We will explore social media and technology, explain the implications of sharing information on social networking sites and suggest how to draft appropriate corporate policies on these matters. You will hear from a panel of experts in venture capital and private equity, who will share their insights on subordinated debt and preferred equity financing. We will also review the new Michigan Corporate Income Tax and how it affects choice of entity decisions and conversions to or from C corporations. Finally, we will offer an overview of employment law for non-specialists so that you may better understand the complex relationship of federal, state, and local laws that govern workforce management.

Just as important as the substantive content, the Institute presents outstanding networking opportunities to catch up with your Section colleagues. Join us in Grand Rapids to share your stories and enjoy spending some time with faculty, council members and fellow business lawyers during the reception, annual Section dinner and informal afterglow that will undoubtedly occur. We look forward to seeing you there!


Tax Time

This is the time of year when most businesses and individuals attend to completing annual state and federal tax returns. With the return to a Corporate Income Tax for Michigan businesses, and the uncertainty of potential changes to the federal tax scheme, business law practitioners for large and small clients face substantial challenges when assisting clients on tax law matters. You should visit the resources currently available at ICLE to assist with advice in these matters. Business Law Section members regularly contribute to updated continuing legal education materials relevant to this topic, including the recently presented LLC and Business Entity Update.

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