BW INSIGHTS

Regulators Close Silicon Valley Bank and Signature Bank: Here's What You Need to Know

By John D. Hunter & Allison M. Lindner | 03.13.2023

Last weekend was a wild ride for the banking industry and depositors everywhere. Silicon Valley Bank experienced an old fashioned “run on the bank” that forced the FDIC to close it on mid-day Friday. Remember Jimmy Stewart in “It’s a Wonderful Life”. Over the weekend another bank, Signature Bank, was also closed by regulators. Both of these banks... Read More

2023 Iowa Legislative Session - Week 9 Summary

By BrownWinick | 03.10.2023

The Revenue Estimating Conference (REC), comprised of a three-member panel (Kraig Paulsen, David Underwood, and Jennifer Acton), met Friday (3/10/23) as part of its standard schedule of meetings to estimate future state revenues. The REC projects higher revenues for fiscal years 2023 and 2024 as compared to the December 2022 estimates (1.4%... Read More

Government Relations Update - 03-10-23

By BrownWinick | 03.10.2023

The Revenue Estimating Conference (“REC”), comprised of a three-member panel (Kraig Paulsen, David Underwood, and Jennifer Acton), met today (3/10/23) as part of its standard schedule of meetings to estimate future state revenues. A summary of the information discussed during the meeting is below, along with the attached spreadsheet distributed... Read More

Does Your Export Business Use an IC-DISC?

By Christopher L. Nuss & Jacob R. Schoeck | 03.07.2023

Authorized by Congress as an incentive to promote export sales, Interest-Charge Domestic Sales Corporations (“IC-DISCs”) function as a simple, inexpensive, and low-risk tax planning strategy. Basically, IC-DISCs provide significant permanent tax benefits and deferred tax savings opportunities for U.S. based export companies by in essence allowing... Read More

2023 Iowa Legislative Session - Week 8 Summary

By BrownWinick | 03.06.2023

This week saw a flurry of activity from lawmakers as they rushed to advance numerous bills in an effort to beat Friday’s first “funnel”. From Monday through Thursday, 237 bills were listed on Committee agendas, 132 subcommittees were held and the last Committee notice went out Friday morning at 12:34 a.m. for the House Judiciary to meet - with 16... Read More

2023 Iowa Legislative Session - Week 7 Summary

By BrownWinick | 02.27.2023

The week continued to ramp up as lawmakers prepare for next week’s funnel. This means that, with a few exceptions, by the end of next week, all bills must be voted out a subcommittee and their corresponding Senate or House committees. With an eye towards the quickly approaching funnel deadline, lawmakers packed this week with subcommittee and... Read More

No More Non-Competes? What Pending Laws May Mean for Employment in Iowa

By Mackensie K. Graham | 02.23.2023

There’s a good chance that if you’re reading this, you’re currently subject to a non-compete provision. Non-compete provisions or agreements are notorious in that they have a complicated and long history within labor and employment law. For instance, in England circa 1414, an apprentice promised to refrain from practicing his trade for 6 months in... Read More

International Investment Considerations: CFIUS

By Greer M. Wellstead | 02.22.2023

When a foreign party is involved in the potential acquisition of or investment in a U.S. business, they are doing much more than just investing in the U.S. Transactions in which a foreign party is involved, may also bring along CIFUS compliance considerations. The Committee on Foreign Investment in the United States (“CFIUS”) is a federal... Read More

2023 Iowa Legislative Session - Week 6 Summary

By BrownWinick | 02.20.2023

Only 100 days have passed since the November Midterm Elections, but Republicans are already starting to focus on the 2024 presidential election and making Iowa a priority. Nikki Haley, the former South Carolina Governor and United Nations Ambassador, announced her presidential campaign earlier this week. Haley is scheduled to be in Iowa next week... Read More

What is the Manufacturing 4.0 Technology Investment Program?

By Drew Larson | 02.17.2023

The Iowa Economic Development Authority and Gov. Reynolds announced that an additional $2,000,000 of the funds provided by the American Rescue Plan Act (ARPA) have been invested in the Manufacturing 4.0 Technology Investment Program. The program is intended to help small- and mid-size Iowa manufacturers invest in the adoption and integration of... Read More