IC-DISC. Page 7. By: Jeffrey S. Ammon;

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1 Terms & Conditions Property Tax IC-DISC Insurance BUSINESS LAW UPDATE SPRING 2014 Page 3 Page 4 Page 5 Page 7 P R I O R I T Y Read Personal Property Tax Repeal: Could They Have Made It Any More Complicated? By: Jeffrey S. Ammon; ammonj@millerjohnson.com; You ve likely heard about Michigan s personal property tax reform law, set to begin in 2016 (except for a small business exemption in effect this year). But has anyone explained how complicated the new law is? Or how it does not simply eliminate Michigan s personal property tax? To illustrate, guess which of the following statements is true. All personal property will be exempt from tax. Manufacturing equipment will be exempt from tax. Office furniture will continue to be taxed. All personal property owned by manufacturers will be exempt. None of them is true. The new law is much more complicated and even counterintuitive. Depending on location, for example, office furniture is as likely to be exempt as manufacturing equipment. And some manufacturing equipment will never be exempt under this new law. Read on for a glimpse at how the new law might apply to you. First, you have no chance for an exemption unless your business location meets a 50 percent test: more than 50 percent of the cost of the personal property at your location must be used either for industrial processing or in direct integrated support of that processing. Support includes such activities as research, testing, and some forms of warehousing. Continued on next page.

2 Personal Property Tax Repeal, continued If your location doesn t meet this 50-percent test, you re out of luck. You ll continue to pay full personal property tax on all of that location s personal property, even the manufacturing equipment. But if you do meet the test, will your personal property be exempt? It depends. The exemption will apply to only some of the property at that location. And the exemption has nothing to do with whether the property is used in manufacturing! Instead, the law divides the property into three categories, only two of which will be exempt. New personal property (purchased in 2013 or later) will be exempt. Old personal property (at least 10 years old as of 2016) will also be exempt. In the middle: property less than 10 years old but purchased before 2013 will be taxed. I call this the grade-school age property, as it will be property between four and ten years old when the new law takes effect in So, an office desk purchased in 2013 will be exempt even though it isn t used to directly support industrial processing. But that s true only if that business location passed the 50-percent test (which does depend in part on whether the desk is used in industrial processing!) Got it? I wouldn t blame you if you didn t. Michigan s personal property tax reform law is complicated and even counterintuitive. So what are savvy business owners to do between now and the end of next year? I suggest several steps. Do a dry run now to determine whether each of your business locations meets or fails the 50-percent test. Project whether your personal property acquisitions in the next 20 months might change the result of the 50-percent test. Granted, this may be hard to estimate. If you meet the 50-percent test, how much of your personal property might be exempt? That is, how much property will you have in each exempt category? How much will be grade-school age? If you just barely pass or fail the 50-percent test, consider how small changes in business strategies might get you over the 50-percent threshold. For example, have you properly defined the business location? Do you have one integrated location or more than one separate location? What if some personal property was reclassified as real property or vice versa, such as leasehold improvements or fixtures? How does your expensing policy affect the outcome? These are only some of the strategic ideas that may help you make the most of the new exemption law. For more information on how to plan to use this law to your advantage, contact the author or another member of Miller Johnson s Property Tax Group. In mid-march when this went to press, yet another set of bill changes are working their way through the legislature. We are monitoring this closely and will keep you updated on further developments. 2

3 One-Sided Terms and Conditions: Did We Just Reach the Tipping Point? By: Robert D. Wolford; For years, suppliers have been forced to guard against the onerous and one-sided terms and conditions of original equipment manufacturers (OEMs). With the prospect of gaining or losing new business held over their head, suppliers were often forced to accept these terms verbatim. Certainly where there were unique circumstances or a supplier had a proprietary product, some relief could be had, but for the most part, they were forced to sign up as written. To observers, it seemed there was no end in sight. OEMs would continue to turn the screws to shift risk to suppliers, and collectively, suppliers would have no choice but to accept the terms and the inherent risk in order to maintain the business. That is, until General Motors (GM) crossed the line. After GM s well-publicized bankruptcy, one of its key initiatives focused on streamlining, strengthening, and improving its relationships with suppliers. However, that initiative took a curious turn last year when the company issued new standard terms and conditions of purchase that were to apply to purchases beginning in July, These terms took the onerous one-sided version of the terms and conditions to a new level, with provisions that placed the burden on suppliers to notify GM if GM s specifications were defective, gave GM stronger rights to obtain control of supplier proprietary intellectual property, and provided GM with broad audit rights over a supplier s entire business, not just GM-related programs. Suppliers immediately fought back, and en masse. Initially GM stood firm when met with objections and requests to modify the new terms, only agreeing to make accommodations for suppliers who were in a unique position. However, things changed on February 11, 2014 when the company announced that due to broad supplier objection, it was amending the new terms and conditions to address some of the most objectionable provisions. Specifically, GM eliminated language that could be interpreted as creating an unlimited warranty period; clarified that GM s audit rights are limited to GM-related work; deleted a provision that placed the burden on the supplier to note specification defects, even when it was not responsible for the design; and limited GM s license rights in a supplier s intellectual property. While the GM terms and conditions remain very favorable to GM and still are extremely burdensome to suppliers, these changes do bring the terms closer to being consistent with the other OEM terms. The changes serve as an important reminder to suppliers of a number of considerations to keep in mind when dealing with customer terms and conditions. Always read the terms and conditions before accepting a purchase order, at minimum, to confirm that the business terms are consistent with your practice. Don t be afraid to request revisions to your customer s standard terms and conditions, especially if you re a critical supplier. Those terms will govern any dispute that occurs, as well as your rights under the contract. You can make your request without negatively affecting the business relationship, and securing the revisions can significantly lessen your risk and exposure. If you have any proprietary rights or processes that are involved with your work for the customer, be sure they aren t modified by the terms and conditions. Be sure to maintain your own terms and conditions of sale, which can often eliminate or neutralize some of the most egregious customer provisions. Miller Johnson s Automotive and Manufacturing Practice Groups regularly assist our clients in their commercial contracting issues and would be glad to help you navigate your contractual relationships with your customers and suppliers. 3

4 Challenging Property Tax Assessments: Is There a Potential Savings? By: Daniel P. Perk; perkd@millerjohnson.com; You ve already received the assessment notices for all the parcels of property you own and have checked them over for accuracy. Now is the time to ask, Should I challenge my property tax assessment and, if I do, am I likely to realize any savings? There s no blanket answer to that question, but what we know from experience is that many commercial and industrial properties have been significantly overassessed. This means you may be paying more than your fair share of property taxes. The process for challenging your property tax assessment is straightforward. A petition has to be filed with the Tax Tribunal by May 31. An accurate appraisal of the property will have to be prepared, which requires the property owner to provide all relevant financial information to determine the property s fair market value. The appraisal does not have to be completed before the petition is filed. After that, most cases settle during the pre-hearing general call/settlement conference, which usually takes place within 12 months after the petition is filed. Our real estate attorneys regularly help clients minimize their property tax obligations. Here are some examples of our clients who ve obtained significant reductions in their real estate property taxes in the past year: A $3,032,250 reduction in taxable value for a client who owns a retail mall in Delta County, resulting in an annual tax savings of approximately $160,000 per year. We also obtained a refund in excess of $40,000. A $274,000 reduction in taxable value for a client who owns multi-tenant housing in Ionia County, resulting in an annual tax savings of approximately $15,000 per year. We also obtained a refund of approximately $12,000. A $206,000 reduction in taxable value for a client who owns a big-box store in Kent County, resulting in an annual tax savings of approximately $10,000 per year and a refund in excess of $30,000. Every situation is different and results will vary depending on the facts and circumstances of each case. However, in our experience, these cases can be handled economically and efficiently, and so are well worth the investment when one considers the annual tax savings that can be realized. Miller Johnson s Real Estate and Litigation Practice Groups regularly guide our clients in their property tax matters. We would be glad to help you minimize your property tax obligations and fine-tune your property tax strategy going forward. Please contact the author or your Miller Johnson attorney for assistance. In addition, we are offering a tax appeal workshop on April 24 in Grand Rapids and May 1 in Kalamazoo. Check the event section at to register. 4

5 A Gift From Congress: The IC-DISC By: Mark E. Rizik; Every once in a while, Congress gives businesses a gift. The IC-DISC is one of them. It is an Internal Revenue Code blessed device for saving taxes with minimal cost or effort. What Is an IC-DISC? IC-DISC stands for Interest-Charge Domestic International Sales Corporation. An IC-DISC is a U.S. company that, on paper, sells U.S. goods to foreign purchasers. Who Can Benefit from an IC-DISC? Closely-held U.S. companies that export U.S.-made goods, provide goods that become part of U.S. exports, or provide engineering or architectural services on foreign construction projects may benefit from an IC-DISC. How Does an IC-DISC Save Taxes? An IC-DISC is, on paper, the salesperson for a U.S. company s export sales, for which the IC-DISC earns a commission. Assuming that the U.S. company s owners are in the maximum tax bracket, the tax savings can be explained as follows. Tax deduction for U.S. Company. Normally, the owners of the U.S. company (we ll call it US Co.) would pay federal income tax of 39.6 percent on the net income from export sales. But if it uses an IC-DISC, US Co. will be treated as if it paid part of that income to the IC-DISC as a sales commission. US Co. gets a tax deduction equal to the commission. IC-DISC pays no federal income taxes. Because of the special status given to an IC-DISC under the Internal Revenue Code, an IC-DISC does not pay federal income tax on its commission income. Commission income is converted to qualified dividends. When an IC-DISC distributes its income to its shareholders, the distributions are taxed as qualified dividends. Qualified dividends are subject to a maximum federal income tax of 20 percent plus, probably, a net investment income tax of 3.8 percent. So the IC-DISC converts ordinary income taxed at 39.6 percent into dividend income taxed at 23.8 percent, a savings of almost 16 percent. In some situations, the savings are even higher! An Example of Tax Savings Assume that US Co (an S corporation) has net income from exports of $10 million. The amount it can pay as a commission to its IC-DISC is limited, but assume that the commission is $5 million. Because US Co. gets a tax deduction for the commission, its owners federal income tax is reduced by $1,980,000 (.396 x $5,000,000). The IC-DISC is not taxed on that commission income. Instead, when the IC-DISC distributes the commission income to its owners, the distributions are taxed as qualified dividends, and the owners pay $1,190,000 of federal income tax (.238 x $5,000,000). The owners, therefore, save $790,000 through the use of the IC-DISC. Why Are the Tax Savings Easy? The tax savings are easy and inexpensive to produce. An IC-DISC does not need to have employees, an office, a computer, a telephone, or any hard assets. It does not need to actually be involved in the sales process. The substantive requirements for an IC-DISC are remarkably minimal. An IC-DISC does have to apply for and receive IRS approval. Also, it is important that the IC-DISC be properly organized, that the commission agreement be properly documented, and that the taxpayer s tax advisors monitor the commissions and the IC-DISC s gross receipts to make sure they satisfy Internal Revenue Code requirements. Continued on next page. 5

6 The IC-DISC, continued Other Tax Benefits An IC-DISC can result in other tax benefits, including estate tax savings, tax deferral (if the IC-DISC wants to hold on to its income and pay the IRS an interest charge which currently is very small), and income tax savings on other types of income. Start Planning IC-DISCs can achieve substantial and permanent tax savings for their owners with little effort or cost. But the tax savings are not retroactive you have to establish an IC-DISC to start realizing the savings. And, as is the case with all Internal Revenue Code blessed tax breaks, there are somewhat complex rules that have to be satisfied. If you are interested in establishing an IC-DISC, now is the best time to get started and you should start by contacting a tax professional who is experienced in this area. If you have any questions, please contact the author or another member of Miller Johnson s Tax Law Practice Group. Welcome to Miller Johnson Four new associates joined the firm s business and litigation sections in the fall. Please join us in welcoming them. Annalise J. Buth attended Northwestern University School of Law and Wheaton College. Before coming to Miller Johnson, Ms. Buth worked for International Justice Mission in South Asia, the Michigan Court of Appeals in Grand Rapids, and the Legal Assistance Foundation of Metropolitan Chicago. She is licensed to practice in Michigan and Illinois. Kaley M. Connelly attended the University of Michigan Law School and Marquette University. Prior to joining Miller Johnson, she worked for a law firm in Milwaukee in their employee benefits and executive compensation practice group. She is licensed to practice in Wisconsin and is waiting for results on the Michigan bar exam. Patrick M. Jaicomo attended the University of Chicago Law School and the University of Notre Dame. Prior to joining Miller Johnson, Mr. Jaicomo spent two years as a law clerk for The Honorable Stephen J. Markman of the Michigan Supreme Court. He is licensed to practice in Michigan. Andrew L. Kortesoja attended Loyola University Chicago School of Law and Hope College. He was a summer associate at Miller Johnson. Mr. Kortesoja also did an internship in the United States Attorney s Office Organized Crime and Narcotics Division. He is licensed to practice in Michigan. 6

7 Bridging the Gap: Rep and Warranty Insurance By: Robert D. Wolford; In a transaction involving the sale of a business, the parties often focus first on reaching an agreement on the price to be paid and the form of payment. Yet, even if a meeting of the minds can be reached on these critical points, many other deal terms still must be ironed out in order to close the transaction. One of the most challenging issues is always the representations and warranties required by the buyer and the related allocation of risk between the parties post-closing. Although for the principals price may often be the top threshold issue, many potential transactions have fizzled due to the parties inability to reach agreement on representations and warranties and the related risk allocation. However, recently parties to a transaction are more and more often looking to rep and warranty insurance products to bridge the inevitable gaps between buyers and sellers and create transaction terms that meet both parties expectations. When a business is sold, the purchase agreement usually contains certain representations and warranties about the business and its operations. These are generally made by the seller and form the basis for the parties mutual understanding of the expectations of the business. If one of them later turns out to be untrue or incomplete, the purchase agreement will provide the seller with a claim back against the purchaser for any damages. Both the buyer s and seller s counsel work to limit their clients risks in this regard. Buyers will require these reps and warranties to be backed by an escrow fund, a portion of the purchase price that is set aside and available to pay any claims that might arise. Similarly, sellers will seek to place limitations on claims by using liability caps, baskets, and deductibles. However, these tactics require the risk to be shifted between the parties and can make it impossible to reach a mutually agreeable risk allocation. A representation and warranty insurance policy can mitigate many of these challenges. These policies shift much of the risk related to the representations and warranties from the buyer or seller to the insurer and can lead to a risk allocation acceptable to both parties. The policies can be obtained by buyers, sellers, or jointly, but it s usually the buyer who does so. A buyer policy generally allows the buyer to make a claim under the policy (subject to any deductible or retention amount) if the representations and warranties are incomplete, false, or otherwise breached. This allows a buyer to accept a lower escrow amount, since the insurer backs any claims and also generally provides for a survival period longer than the seller would agree to without a policy in place, which is another benefit for buyers. As with any insurance policy, it is critical to have a detailed understanding of the policy and its coverage exclusions. For example, most policies exclude coverage if facts that would lead to a breach are known before the policy is established. It is also important to engage both counsel and a broker who can help negotiate terms with the insurer to make certain that the insured is adequately protected and is obtaining the coverage it expects. These policies won t eliminate risk, but they can be effective tools for a buyer and seller to use in order to bridge the gap and complete a deal. If you have questions about rep and warranty insurance policies or a potential transaction, please don t hesitate to contact one of the attorneys in Miller Johnson s Mergers and Acquisitions (M&A) Practice Group. 7

8 Meritas: Opening Doors Worldwide Look no further than your lawyers at Miller Johnson for connections to qualified legal counsel far beyond Michigan s borders, through its membership in Meritas. Meritas is a global alliance of pre-qualified, independent, full-service law firms formed with the sole purpose of facilitating connections to trusted legal counsel in the global marketplace. Clients can have peace of mind knowing they will receive a consistently positive experience working with any of Meritas more than 175 law firms worldwide. No matter where your business may take you, Miller Johnson and Meritas, can act as your trusted advisor and help you navigate the local business climate, legal system and social customs. Consistent Quality Meritas membership is selective and by invitation only. Its extensive due diligence process saves clients time in validating law firm credentials and experience. Firms are regularly assessed and recertified for the breadth of their practice expertise and client satisfaction. Only firms performing under the tenets of Meritas uniquely comprehensive Quality Assurance Program are allowed to maintain membership, ensuring that clients receive the same high quality legal work and service from every Meritas firm. The Meritas Quality Assurance Program includes: Rigorous screening before inviting members to join the alliance. Continuous monitoring for quality of service, reflected in a Satisfaction Index score, along with client performance feedback that is available online. Regular recertifications to ensure member firms maintain practice capabilities and client satisfaction, and adhere to Meritas policies. Consistent Service Working with Meritas firms is a predictably efficient and positive experience because Meritas selects independent, mid-sized firms that are flexible, accommodating, and attentive. All Meritas firms share a positive, consultative approach to business and a common commitment to excellent client service. Proven Value Because Meritas firms are local, independent, and mid-sized, they can offer greater flexibility customized billing, deep expertise, and local rates while minimizing the chance of conflicts. Meritas clients benefit from the advantage of partner-level expertise, personal service, and a more collaborative, customized business approach. Meritas law firms are well-established in their local markets, with years of valuable practical experience in local laws and business customs. Their working knowledge of local cultural and jurisdictional issues typically exceeds that of most international law firms and facilitates positive and timely outcomes. In today s changing world economy, the Meritas model provides essential peace-of-mind. Meritas offers businesses global guidance and a proven path to successfully navigate the volatile legal landscape and keep their business strategy on course. Editor s note: Meritas website ( has more information as well as great search capability. For example, you can search for a law firm by geographic area as well as view their Satisfaction Index. You can search for a lawyer based on keywords in addition to geographic areas. 8

9 Clients Have Confidence in Miller Johnson and Meritas Miller Johnson is proud to be a founding law firm in Meritas. This affiliation allows us to serve our clients on a global level with confidence. In 2013, we partnered with Meritas firms on matters for clients ranging from contract disputes to creditors rights, from noncompetes to real estate, and from entity formations to environmental issues. Most of the firms we work with are in large metropolitan areas in the United States and Canada. However, in the past five years we have also partnered with our clients and Meritas firms in Europe including England, Germany, France, Spain and Hungary and across the globe ranging from Japan to India to Australia to Mexico. In this issue, we are including an article Meritas provided to us so you can learn more about why we have such high confidence in using the affiliated firms. If you d like to learn more about how we can leverage Meritas s global presence for you, please contact your Miller Johnson attorney. Upcoming Workshops Corporate/LLC Legal Housekeeping: My Bylaws Say What? April 1 in Grand Rapids April 2 in Kalamazoo Property Tax Appeals April 24 in Grand Rapids May 1 in Kalamazoo For more details about these or for our complete schedule, you may visit our website at or contact Amy McCaffrey at or mccaffreya@millerjohnson.com. 9

10 Miller Johnson In the News Katie Aguilar presented Drafting Caregiver Contracts at the Institute of Continuing Legal Education (ICLE) 23rd Annual Seminar on Drafting Estate Planning Documents. She also became the chair of the Vacation Home Planning Practice Group. Katie Aguilar and Jeff Ammon are speaking on Transferring the Family Cottage at the Cottage and Lakefront Living Show at DeVos Place on March 28 and 29. Jeff Ammon is teaching a course on business planning at Thomas Cooley Law School this term. In addition, he had several speaking engagements in January including a two-part webcast on construction contracts for the national CFMA, a webcast for ICLE on business entity update, and a presentation on choice of entity at the ICLE Business Boot Camp in Plymouth. He also wrote Indemnity Law Changes: Has Your Contract Language Caught Up? which was in the CFMA West Michigan Chapter s winter newsletter. Mary Bauman spoke on Health Care Reform to the Institute of Management Accountants Grand Rapids Chapter in January and the Leadership Oasis Human Resource Group in Battle Creek in February. In April, she is presenting to the Lakeshore HRMA group and in May at the annual Michigan School Business Officials conference. Max Barnes was interviewed for the MiBiz article Do SEC rules limit attractiveness of crowdfunding? Marcia Bennett Boyce joined the Kent District Library (KDL) fund development board. Jim Bruinsma spoke on Health Care Reform at the American Foundry Society s HR Conference in February in San Antonio, TX. He also spoke about fiduciary responsibility at the Fiduciary Summit workshop in March. Chris Edgar and Sara Nicholson presented Sophisticated Planning and Pitfalls with Powers of Appointment at ICLE s 23rd Annual Seminar on Drafting Estate Planning Documents in January in Grand Rapids and February in Plymouth. Bill Fallon joined the Board of Directors of Thresholds, Inc. He will also participate in Disciplining Employees: Not For the Faint of Heart at Cornerstone University s Business Breakfast on March 20. Dave Gass and CJ Schneider contributed Chapter 2: Classification and Types of Contracts to the Institute of Continuing Legal Education s publication Michigan Contract Law. Dick Hillary is presenting at the Michigan Supreme Court Judicial Conference on March 25. His presentation is Common Issues in District Court No-Fault Proceedings. Patrick Jaicomo attended the Michigan Supreme Court Hearings on March 6 with the Sarosi group. He was interviewed by FOX 2 from Detroit, and MLive for the article Juvenile lifers: Michigan Supreme Court hears oral arguments on retroactivity, resentencing. Craig Lubben was appointed vice-chairperson of the Attorney Discipline Board (ADB) by the Michigan Supreme Court. He was also elected vice-chair of the Calvin College Board of Trustees. Raj Malviya will be facilitating Inbound/Outbound Transfers of Global Executives, a Hot Legal Topic Roundtable Session at the Meritas Annual Meeting for US and Canadian firms. The 24th annual conference runs April 30 - May 2 in Boston. Continued on next page. 10

11 In the News, continued Neil Marchand was interviewed about Leadership Grand Rapids for the Business Matters Talk Radio on WJRW. It aired on February 22. Laurie Murphy was honored to be a part of Michigan Lawyer s Weekly s 2013 Women in the Law. In January, she assumed the position as chair of the firm s Probate and Estate Planning practice group. Jon Muth and Patrick Jaicomo assisted Matilyn Sarosi, an Ann Arbor teen, who submitted an amicus brief for the recent Michigan Supreme Court hearings on juvenile-lifers and probation. They were mentioned in articles across the country for this pro bono case. Sara Nicholson joined the Kalamazoo County YWCA Board of Directors. Cindy Ortega is a presenter for the session The Rules Have Changed, But the Game s the Same: How to Ensure You Still Have the Winning Hand on March 14. It will be at the winter conference Making the Smart Gamble: Understanding the Current Legal Landscape of Commercial Development in Michigan sponsored by the Real Property Law Section of the Michigan State Bar being held in Las Vegas. She recently assumed the position as chair of Miller Johnson s Real Estate Practice Group. John Piggins was re-elected treasurer of the Bankruptcy Steering Committee for the Federal Bar Association for the Western District of Michigan. He was also elected vice-president of the Board of Directors for the Community Church of Douglas. Steve Ryan, Marcus Campbell, and Andrew Oostema presented at the Healthcare Financial Management Association West Michigan Chapter s conference in January. Connie Thacker was recently appointed to the Board of Directors for the Saugatuck Center for the Arts. In February she spoke on DOMA Issues at the Collaborative Institute. In May, she is presenting on Parenting Time Coordination at the American Academy of Matrimonial Lawyers conference. Scott Timmer wrote an article Adverse Possession, Prescriptive Easements and Acquiescence Some Current Issues and a Case Law Update for the Michigan Real Property Law Review, Spring 2014 issue. Bob Wolford was one of West Michigan s young professionals honored by the Grand Rapids Business Journal in their 40 Under Forty. He was also appointed to the East Grand Rapids Public Schools Board of Education. Jim Peterson was appointed to the executive committee for Baxter Community Center. 11

12 Grand Rapids p f Kalamazoo p f Managing Member Craig A. Mutch mutchc@millerjohnson.com Business Section Business Section Chair Robert D. Wolford wolfordr@millerjohnson.com Business practice areas Corporate Finance Maxwell N. Barnes barnesm@millerjohnson.com Creditors /Debtors Rights John T. Piggins pigginsj@millerjohnson.com Elder Law Laurie K. Murphy murphyl@millerjohnson.com Employee Benefits Mary V. Bauman baumanm@millerjohnson.com Business Section Vice Chair Laurie K. Murphy murphyl@millerjohnson.com Environmental Alan C. Schwartz schwartza@millerjohnson.com Family Practice Michael B. Quinn quinnm@millerjohnson.com Fraud & Embezzlement Recovery Matthew L. Vicari vicarim@millerjohnson.com Intellectual Property James R. Peterson petersonj@millerjohnson.com Mergers & Acquisitions Maxwell N. Barnes barnesm@millerjohnson.com Probate & Estate Planning Laurie K. Murphy murphyl@millerjohnson.com Real Estate Cynthia P. Ortega ortegac@millerjohnson.com Taxation Mark E. Rizik rizikm@millerjohnson.com Any of the lawyers listed can also put you in contact with Miller Johnson attorneys who practice in the areas of Banking, Construction, Economic Development, Health Care, Health Professionals, Immigration, Manufacturing and Small Business. Miller Johnson is a member of Meritas, a global alliance of over 7,000 lawyers serving in more than 170 fullservice law firms across more than 70 countries. For direct access to locally-based legal expertise worldwide, please visit the Meritas website at U.S. News Media Group and Best Lawyers awarded Miller Johnson with top rankings for 25 practice areas in Grand Rapids and 8 in Kalamazoo as part of their 2014 Best Law Firms report. Achieving a high ranking is a special distinction that signals a unique combination of excellence and breadth of expertise according to the report. Services ranked as Tier 1 include employee benefits, bankruptcy and creditor/debtor rights, corporate law, labor and employment, mergers and acquisitions, banking and finance, litigation, mediation, real estate, tax law, trusts and estates, and family law. This newsletter is a periodic publication of MILLER JOHNSON and should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general information purposes only, and you are urged to consult your lawyer concerning your own situation and any specific legal questions you may have. For further information about these contents, please contact us MILLER JOHNSON. All rights reserved. Priority Read is a federally registered service mark of MILLER JOHNSON.