Intellectual Property Theft Affects U.S. Economy, Causes Billions in Lost Revenue

When you own a business that produces any type of consumer goods, it can be relatively easy to study the market and determine that your product is unlike any others. By establishing your brand and emphasizing what sets your product apart from competitors, you can begin to take steps toward financial success. I am commonly […]

Illinois Speaker of the House Attempts to Extend EDGE Tax Credits to Small Businesses

The Economic Development for a Growing Economy (EDGE) tax credit program provides tax credits and incentives to companies operating in Illinois. EDGE has served as a key bargaining tool that has allowed the legislature to persuade companies to relocate to Illinois, while also making sure that corporations already operating within the state stay put. Critiques […]

In Illinois Optimistic Entrepreneurs Set Their Sights on the Marijuana Business

The Illinois Medical Cannabis Pilot Program is the program through which Illinois will enforce its new medical marijuana law. Though the implementation of this program technically started on January 1, 2014, the program is still in its beginning stages. In fact the Illinois Department of Health has been holding hearings open to the public, in […]

Partial Plastic Bag Ban Exempts Mom and Pop Small Businesses

Every year in Chicago over 3 billion plastic bags are used in the city. However, a new law passed by the Chicago City Council at 36-10 votes has resulted in a partial ban on the use of plastic bags by retailers and other local businesses. Luckily, this plastic bag ban does not apply to many […]

The Small BREW Act May Provide Tax Relief to Local Breweries

Illinois’ local brewery business is booming. In the last few decades local beer brewers have emerged as some of the region’s most successful small businesses. Many of these local brewers ship their beers across the country, while also maintaining a local presence through flagship restaurant locations throughout the state. State legislatures are acknowledging the positive […]

New Bill Requires Employers to Set Up Mandatory IRAs for Employees

A new bill has been passed by the Illinois State Senate that requires employers to set up retirement accounts for all of their employees. This bill passed earlier this week imposes significant requirements on business owners throughout the state. It is unclear yet what effects this employer managed retirement account law will have on employer […]

Starbuck Loses Trademark Lawsuit

In a legal case of David and Goliath, a small NH coffee shop has prevailed over a trademark infringement lawsuit filed against them by corporate giant Starbucks. Jim and Annie Clark own and operate the Black Bear Micro Roastery, located in Tuftonboro, NH. One of the coffee blends offered to their customers is called “Charbucks.” […]

EEOC Offers New Guidance on Religious Accommodations

The United States Equal Employment Opportunity Commission (EEOC) is the federal agency charged with protecting the rights of employees to be free from unlawful workplace discrimination. In order to prevent such unlawful discrimination before it happens in the first place, the EEOC issues guidance to employers and business owners on how they can ensure they […]

The Growing Small Businesses Act Introduced to the U.S. House of Representatives

On February 20, 2014, Illinois Representative Rodney Davis and New Jersey Representative Donald Payne Jr. introduced the Growing Small Businesses Act (HR 4063). The bill was introduced during National Entrepreneurship Week, with the goal of providing assistance and training for both the unemployed and potential business owners. Why the Growing Small Businesses Act?  Senator Davis, […]

The Confusion Regarding Corporate Tax Payments in Illinois

At the end of January, Illinois Speaker of the House Michael Madigan submitted a proposal aimed at cutting the corporate income tax in half. This move has been viewed somewhat pessimistically because three years before, Madigan was responsible for substantially increasing the income tax rate for Illinois companies. However, over the past year, Madigan has […]