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Recent developments in a lawsuit against a Delaware grocery store chain serve as a prime example of why you should beware of partial and elliptical disclosures to stockholders in M&A transactions.
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- Blog PostIllinois law places different requirements upon contractors, subcontractors, and suppliers. This is the first in a series of blog posts that will focus on the fundamentals of Illinois mechanics lien law as it applies to general contractors.
- Blog PostInformation on whether you should provide your Social Security number to doctors and other healthcare providers.
- NewsIn August, the Internal Revenue Service published proposed regulations that shed light on how the 20% deduction of qualified business income is calculated. It would take several columns to discuss all of the implications of the new regulations, but here are a couple of quick highlights that most business owners will want to consider.
- Blog PostWhile the use of cryptocurrency can assist a company in conserving cash, companies must understand certain limitations and risks associated with using cryptocurrency, particularly from a tax perspective.
- Blog PostLast week the Trump administration filed a friend-of-the-court brief in support of federal retirees in Dawson v. Steager before the U.S. Supreme Court. As we reported when the court accepted the case for review, the case addresses the intergovernmental tax immunity doctrine as applied to the West Virginia income tax and state and federal law-enforcement officers.
- Blog PostState tax incentive packages now seem to be ubiquitous in the business environment surrounding firm decisions on where to locate headquarters, offices, manufacturing plants, and other facilities. With many factors in play as firms make site selections, let’s take a look at some interesting dynamics that have been on display with some recent tax incentive packages making headlines.
- Blog PostProposed regulations that the Treasury Department and IRS issued last month prohibit taxpayers from taking charitable deductions to the extent the taxpayer receives a state tax credit in return. But the proposed regulations only raised more controversy among businesses concerned that they would limit their ability to take ordinary and necessary business expenses under I.R.C. § 162. Meanwhile, the controversy over the SALT deduction limit is disrupting efforts in Congress to pass more tax reform legislation.
- Blog PostInformation and tips on how trade associations and their members can minimize the risk of running afoul of the antitrust laws when exchanging information?.
- Blog PostNew York court confirms the position of the Securities Exchange Commission regarding the legal nature of cryptocurrencies, ruling that cryptocurrencies may be (and often are) investment contracts subject to the Securities Exchange Act of 1933.
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- NewsStephen J. Rosenfeld, a prominent litigator with more than a quarter-century of experience, has joined the Chicago office of McDonald Hopkins LLC as a member..
- NewsSarah Mancuso has joined the Cleveland Office of McDonald Hopkins as an associate in the firm’s Litigation Department. Prior to joining the McDonald Hopkins, she spent nearly three years at Reminger Co., LPA in Cleveland.
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The political ping pong surrounding the “joint employer” standard at the National Labor Relations Board continues.
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Careful planning, disclosure, drafting and implementation of policies can help prevent exposure to joint employer and agency liability in the franchise context.
- Blog PostThe Florida legislature has amended the construction statute of repose for a second time in two years. The new amendments, which took effect July 1, 2018, include a provision clarifying what is meant by “completion of the contract” and a provision extending the statute of repose one year in certain circumstances.
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The issues at stake in the litigation surrounding a cryotherapy franchise are fundamental to many franchise relationships.
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- NewsDuring a presentation for COSE, McDonald Hopkins intellectual property attorney Mark Guinto explained the types of intellectual property and what it takes to obtain protection, as well as strategies for using IP to grow your business.
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Eight national restaurant chains recently agreed – after being alerted by attorneys general of 10 states and the District of Columbia – to drop provisions in their franchise agreements that prohibit franchisees from recruiting fellow franchisees’ employees. The agreements obligate the chains to drop the so-called “no-poach” hiring stipulation from their franchising agreements.
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- Blog PostBecause trade associations are composed of a group of competitors, members should take particular care to avoid engaging in any behavior that may unwittingly run afoul of U.S. antitrust laws. Topics that are off-limits at trade association meetings include:
- NewsLiz Sullivan named to Crain's Cleveland Notable Women in Healthcare 2018 list
- Blog Post5 things to know about the United States Patent and Trademark Office (USPTO) strategic plan for 2018-2022.
- Blog PostThe area consisting of Columbiana, Mahoning, Trumbull, and, depending on who you ask, Stark, Summit, Portage and Tuscarawas counties, was among the first to draw the attention of national producers with promising results from several early horizontal wells.
- Blog PostIn this clip from "Energy Storage and Distribution: The New Frontier," our panel discusses developments in energy storage systems and what lies ahead.
- Blog PostEnergy storage and distribution: The new frontier
- Blog PostSince its inception in 2006, the investment tax credit for solar energy development has played a critical role in the solar power industry’s meteoric rise. In sixteen short months, though, we enter the phase-down period, wherein the ITC will drop incrementally from its current 30 percent (through 2019) to a permanent 10 percent (after 2022).
- NewsThirty-seven attorneys at McDonald Hopkins have been selected by their peers for inclusion in Best Lawyers 2019. In addition, Cleveland member Dale Vlasek was selected among 2019’s “Lawyers of the Year.” The 24th edition of best lawyers is based on more than 5.5 million detailed evaluations of lawyers by other lawyers.
- PodcastOn episode 18 of MH Business Exchange, host Mike Witzke and McDonald Hopkins business and real estate attorney Todd Baumgartner discuss current trends in long-term care.
- NewsCarla Erskine has joined McDonald Hopkins LLC as an associate working with the Business Law Department in the firm’s West Palm Beach office.
- Blog PostWhen Congress gave a new 20 percent tax deduction to sole proprietors, owners of S Corporations, and partners (including members in limited liability companies), it essentially denied that deduction to people in the business of providing professional services. This means doctors, lawyers, accountants, stock brokers, investment advisers, traders, consultants, athletes, and artists do not get to deduct 20 percent of their business income.
- Blog PostYou have no doubt heard the Tax Cuts and Jobs Act of 2017 dropped the corporate tax rate to 21 percent. You have probably also heard some (but not all) owners of businesses operating as S corporations, partnerships (including limited liability companies), or sole proprietorships will be able to deduct 20 percent of their business income starting in 2018. So, who does not get to deduct 20 percent of their business income?
- Blog PostSay you own two related businesses that operate as S corporations out of the same facility and share administrative resources, but for business and legal reasons, they are separate entities with separate profit and loss statements. One business, let’s say it’s a window wholesaler, generates $1 million of income and has $100,000 payroll. The second business, a home improvement business, generates $50,000 of income on a $1 million payroll. Assume no depreciable property in used; this is all U.S. income; your taxable income equals or exceeds the income from these businesses; and you file a joint return with your spouse.
- Blog PostThe deduction is available for any taxpayer other than a C corporation, so it is available to individuals who earn their business income as sole proprietors or who receive their business income through pass-through entities such as S corporations, partnerships, or limited liability companies. This is why the Section 199A deduction is sometimes called the “pass-through” business income deduction.
- Blog PostAre you a sole proprietor or the owner of a pass-through business (for example, an S corporation, partnership or limited liability company), and do you hire employees and use buildings and equipment to manufacture, sell and/or distribute your product? If so, you will very likely see a 20 percent drop in the tax you pay on your business income starting this year. That’s thanks to the Tax Cuts and Jobs Act of 2017, or the TCJA, which added Section 199A to the tax code. This means a big savings for a lot of business owners, many of them owners of small businesses.
- Blog PostThe Supreme Court of Minnesota recently struck down the State Tax Commissioner’s attempt to impose an income tax on trust income from the sale of shares in a Minnesota corporation. The Court issued its opinion in Fielding v. Commissioner of Revenue on July 18, 2018, finding that the tax violates constitutional due Process protections against extraterritorial taxation.
- Blog PostEarlier this month, the Supreme Judicial Court of Maine addressed whether an individual Maine resident may claim a Maine income tax credit for business taxes imposed by New Hampshire on a limited liability company in which the Maine resident is a member. Siding with the State of Maine, the Court ruled in Goggin v. State Tax Assessor that a Maine resident taxpayer holding an interest in an LLC taxed as a partnership was not entitled to a refund of personal income taxes for business taxes paid to New Hampshire.
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- Blog PostThe Judicial Panel on Multidistrict Litigation recently consolidated three class action cases by employees of two of the world’s largest rail equipment suppliers in federal court in Pennsylvania. All three lawsuits accuse the competitor companies of agreeing not to solicit, recruit, or hire each other’s workers without permission from the hiring company.
- PodcastOn episode 16 of MH Business Exchange, host Mike Witzke and McDonald Hopkins attorney John Heer discuss some of today’s hot issues in environmental law.
