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S-Corp taxes recently changed in Illinois. The state legislature recently passed SB 2351, a corporate tax reform law, that has significant ramifications for S-Corporations (“S-Corps”). Before diving into the law and why it matters, we should cover some background information.

In 2022, several new laws went into effect in Illinois that could impact your business. In this blog post, we will dive into each of those new laws and how they may affect you, although this is not an exhaustive

  • S Corps may seem complex, but they are actually a quite simple tax designation.
  • Not all small businesses will benefit from an S-Corp designation, and the decision to file as one is very individualized.
  • If filing as an S Corp

  • A well-negotiated commercial lease can lead to a happy landlord-tenant relationship.
  • However, unlike residential leases, commercial leases contain very few protections for the tenant.
  • Sometimes you can negotiate for favorable terms. Sometimes your best option is to walk away.

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  • Trademarks are a key part of people’s businesses, protecting their names, logos, and associated phrases.
  • Office actions are like roadblocks to getting your trademark registered.
  • Some office actions are easy to predict and get around, but others might force you

  • As a result of the coronavirus pandemic, only three new laws take effect this year that affect Illinois businesses.
  • The statewide minimum wage increased.
  • The minimum wage in Chicago will increase this summer.
  • Chicago has also extended some licensing and

You know the glorious feeling of an unsolicited accolade? From a compliment in passing to an unexpected thank-you gift, it feels good, if often hard to accept. Practitioners of law are notoriously staid – and let’s be honest, business lawyers