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Sante Ghetti
Advocacy News

Michael Stanek appointed as the employer representative on medical marijuana advisory committee

Sante Ghetti |

Governor John Kasich appointed Michael Stanek, vice president/CFO of Hunt Imaging in Berea and owner of Cleveland Cycle Tours, to a new panel that is being formed, the Ohio Medical Marijuana Advisory Committee.  The role of the assignment is to represent employers’ views as regulatory proceedings on medical marijuana take place in Ohio.  Stanek also serves as a GCP board member and as COSE board chair.

Sante Ghetti
Advocacy News

Proposed Federal Rules Could Impact Your Family-Owned Business

Sante Ghetti |

The U.S. Department of Treasury issued proposed regulations on minority discount valuations (referred to as the “2704 Regs.” after Section 2704 of the Internal Revenue Code).  The minority discount valuation issue deals with how the Internal Revenue Service (IRS) values a partial-ownership stake in, for example, a family-owned business.  If the partial-owner does not own a controlling stake in the business—typically less than 50 percent—and cannot initiate a sale or liquidation of the business, then the value of the stake is given a “minority valuation discount.”  This is an important consideration when the IRS evaluates the value of business ownership for estate tax purposes, and any changes could have a significant impact on family-owned businesses.

Spotlight

Did You Know that You Can Choose Who Provides Your Electricity?

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Looking for the short and sweet version? Listen to our radio ad featured on WTAM-AM.

There are over 100 Retail Energy Providers (REPs) certified by the Public Utilities Commission of Ohio, and each provides customers with different benefits. Whether you stay with the utility or go with a third-party supplier, your service and bill format will remain the same. The difference is in the rate you will pay, as competition between REPs can result in lower-priced offers and additional benefits for customers.