Blog Archives - Page 2 of 11 - Seigfreid Bingham

New Independent Contractor Regulations Published by the U.S. Department of Labor

By: Shannon Johnson

Last week, the U.S. Department of Labor (the “DOL”) announced a new rule, which will go into effect on March 11, 2024, establishing a six-factor analysis that businesses should use in order to properly classify independent contractors vs. employees. To businesses with past experience utilizing contractors, this “new” rule will not appear new at all – rather, it rejects a more recent rule published in 2021 that made it easier for businesses to classify their workers as independent contractors, and largely reinstates the long-standing “economic realities test” that was developed through Court precedent over the course of decades.

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The Corporate Transparency Act: Reporting Requirements and Penalties

By: Tate Thompson, Nida Rais, Rachel Sterbenz, and John Fuchs

Beginning January 1, 2024, the Corporate Transparency Act (“CTA”) will require the majority of businesses (corporations, limited liability companies, and other business entities) to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”). These requirements will particularly impact small businesses and companies that utilize complex entity structures by imposing new or additional obligations that they are not accustomed to having in the past.

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Department of Labor Proposes Rule That Would Entitle Millions of Employees to Overtime Compensation

By: Cody Weyhofen and John Vering

On August 30, 2023, the Department of Labor (“DOL”) announced a proposed rule that seeks to significantly raise the minimum salary threshold needed to qualify for overtime-pay exemptions under the Fair Labor Standards Act (“FLSA”). If the rule takes effect, it’s estimated that an additional 3.6 million employees will become entitled to overtime compensation.

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Missouri Enacts Progressive Name, Image, and Likeness Law

By: Tate Thompson and Curry Sexton

In the absence of uniform laws from Congress or a more robust policy from the NCAA, states continue to look for ways to help their institutions compete in the name, image, and likeness (NIL) “arms race.” One way is for states to implement progressive NIL laws. Effective August 28, 2023, Missouri institutions will be able to arm themselves with arguably the most progressive state NIL law in the country. H.B.417, which was recently signed by Governor Mike Parson, significantly amends Missouri’s prior NIL law. As a result, Missouri institutions and the student-athletes who attend them, will likely benefit greatly following the most recent amendment.

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EEOC Issues Proposed Regulations for Pregnant Workers Fairness Act

By: Shannon Johnson

As explained in our previous client alert, the Pregnant Workers Fairness Act (“PWFA”), effective June 27, 2023, requires public and private sector employers with at least 15 employees to make reasonable accommodations for employees or applicants with known limitations related to or arising out of pregnancy, childbirth, and other related conditions, absent undue hardship. The PWFA did not define what constitutes a reasonable accommodation, and Congress required the Equal Employment Opportunity Commission (“EEOC”) to propose regulations by the end of the year to provide examples of reasonable accommodations, among other things.

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NLRB Sharpens Review of Employee Handbooks

By: Cody Weyhofen, Mark Opara, and John Vering

On August 2, 2023, the National Labor Relations Board (“NLRB”) adopted
a new standard to determine whether an employer’s workplace rules or policies violate employees’ rights under the National Labor Relations Act (the “Act”). As a result, many employers will need to review and revamp their employee handbooks and manuals to avoid a potential lawsuit.

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New Form I-9 and Alternative Inspection Procedure Now in Effect

By: Cody Weyhofen

The Department of Homeland Security (“DHS”) and U.S. Citizenship and Immigration Services (“USCIS”) recently announced changes to Form I-9 and its related document verification procedures. Although these changes will likely streamline the employee-onboarding process, employers will first need to comply with multiple upcoming deadlines and determine whether they qualify for remote verification procedures.

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IRS Memo Questions Tax-Exempt Status of NIL Collectives

By: Tate Thompson and Curry Sexton

In a June memo released by the Office of the Internal Revenue Service (IRS) Chief Counsel, the IRS announced its position that, in most cases, it does not believe name, image, and likeness (NIL) collectives qualify as tax-exempt organizations under the Internal Revenue Code (IRC). Although not legally binding, the decision will likely have a significant impact on existing NIL collectives organized as nonprofits and granted tax-exempt status by the IRS.

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