Doing Business in Florida Blog

Client Alert: Court Holds DOL’s 2024 Overtime Threshold Rule Invalid Nationwide

November 21, 2024

In April 2024, the US Department of Labor (DOL) finalized a rule that would increase salary thresholds for classifying employees as “exempt” from overtime requirements under the Fair Labor Standards Act (FLSA). Effective July 1, 2024, the rule’s salary threshold requirement for exemption for executive, administrative and professional (EAP) employees increased to the equivalent of an annual salary of $43,888.

Client Alert: FinCEN Extends CTA Reporting Deadlines for Reporting Companies with Principal Places of Business Located in Certain Designated Areas of Florida Impacted by Hurricane Milton

November 12, 2024
Corporate Transparency Act

On October 29, 2024, the Financial Crimes Enforcement Network (FinCEN) announced extended deadlines for Corporate Transparency Act (CTA) reporting in response to the effects of Hurricane Milton. Certain reporting companies with principal places of business in impacted Florida areas will have an additional six months to submit Beneficial Ownership Information (BOI) reports.

Year-End Estate Planning: Essential Steps to Protect Your Legacy

October 18, 2024
Robert S. Beraha

As National Estate Planning Week approaches, it’s an ideal time to reflect on the steps necessary to ensure that your estate is in order before the end of the year.

Client Alert- Reminder: FinCEN CTA Reporting Deadline for Reporting Companies Formed Before 2024 is January 1, 2025. Are You Ready?

September 4, 2024
Corporate Transparency Act

The Corporate Transparency Act (“CTA”), a bi-partisan law aimed to combat money laundering, terrorist financing, corruption, tax fraud, and other illicit activities, requires both domestic and foreign reporting companies to disclose information about the company and its beneficial owners— those persons who own 25% or more of the company (through equity, stock, convertible debt, etc.) or exert significant control over its governance and operations (e.g., C-suite officers and “important decision-makers") to the federal government. Reporting companies formed or registered before January 1, 2024, must submit their initial Beneficial Ownership Information (“BOI”) report by January 1, 2025.

Client Alert: Federal Court in Texas Blocks Implementation of the FTC’s Rule Banning Non-Competes

August 21, 2024
Leonard K. Samuels, Ruth Vafek, and Ana Kauffmann

On August 20, a Texas federal court issued a permanent injunction that imposes a nationwide block on the Federal Trade Commission’s Rule banning noncompete agreements in employment contracts. The decision comes after the court entered a preliminary ruling earlier this summer that paused implementation of the FTC Rule only for the parties involved in the case before it. The Texas court’s final decision yesterday is broad and with far-reaching effects. Specifically, the Texas judge, reviewing the FTC Rule under the Administrative Procedures Act, concluded that the FTC does not have the authority to make substantive rules related to preventing unfair methods of competition, and that the ban on non-compete agreements is arbitrary and capricious because it is unreasonably overbroad without a reasonable explanation.

Client Alert: Texas Federal Court Grants Limited Injunction of FTC’s Rule Banning Noncompete Clauses

July 8, 2024
Leonard K. Samuels and Ruth Vafek

On July 3, a federal court in Texas issued a narrow and preliminary injunction which delays, with regard to only a few named parties, the implementation of the FTC’s final rule prohibiting many non-compete agreements. That court is expected to issue a further ruling by August 30, 2024. Meanwhile, a similar challenge in another court is set to be heard on July 10 and has the potential to result in a nationwide injunction. While employers seeking to enforce non-compete agreements may view the Texas decision as a provisional win, they should stay tuned for further updates from the courts and continue contingency planning. We expect to provide further alerts on this issue.

New Florida Law Impacts Attorney Fees

July 2, 2024
James M. DuRant Jr., Joseph P. Jones, and Michael J. Niles

On June 13, 2024, Gov. Ron DeSantis signed Senate Bill 702 into law after favorable treatment in both the House and Senate. Predominately, the statute provides for attorney fees to be paid to prevailing defendants in certain property disputes. Florida, and a majority of other United States jurisdictions, have adopted the “American Rule,” where each party bears its own attorney fees unless a “fee-shifting statute” provides an entitlement to fees.

2024 Florida Condominium Legislation

June 18, 2024
Jeffrey R. Margolis

Department of Business and Professional Regulation Increases Fees for Condominium and Homeowners Association Estoppel Certificates and Transfer Fees

June 10, 2024
Jeffrey R. Margolis

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