By Russell J. Stein Overview On Wednesday August 8, 2018, the IRS issued proposed regulations under Section 199A of the Income Tax Code (the “Proposed Regulations”) governing the new 20 percent deduction from income from certain pass-through entities enacted as part of the Tax Cuts and Jobs Act of 2017. The Proposed Regulations add some...
The concept of voluntarily restructuring solvent insurers has been met with some skepticism in the United States. Sure novating and commutating policies of insolvent insurers have been, at times, necessary, but legally novating (replacing one insurer with another) policies of a solvent insurer? The purpose behind voluntarily restructuring is self-evident: to use otherwise tied-up capital...
On July 31, the Massachusetts Legislature passed an omnibus economic development bill. Of major significance, the bill contains provisions that fundamentally change the way employee noncompetition agreements are regulated in Massachusetts. While the legislation does not abolish noncompetition agreements in the Commonwealth, the legislation substantially limits the terms upon which employers can enter into noncompetition agreements with...
By Alicia J. Samolis and Michael A. Gamboli The much anticipated Rhode Island Sick and Safe Leave Time Law (the “new law”) will go into effect next week and impacts virtually all Rhode Island employers. While the Rhode Island Department of Labor and Training has indicated that they will not enforce fines contained within the...
Overview On Wednesday June 21, 2018, the U.S. Supreme Court released its decision in South Dakota v. Wayfair, Inc., et. al., (585 U.S. __ (2018)) holding that South Dakota’s sales tax statute does not violate the Commerce Clause of the U.S. Constitution. The decision opens up the door for states to tax out-of-state sellers including sales over...
Does your business service or repair property for customers? If yes, your next questions may be: What do I do with property if a customer abandons it and doesn’t pay me? How long must I hold unclaimed property for the owner’s benefit? What rights do I have to protect my interests? The answers to these...
Overview A new Massachusetts law, set to go into effect on July 1, 2018, could have major consequences for insurance agencies that have employees located in Massachusetts, regardless of location or primary state of organization. The Massachusetts Equal Pay Law requires employers to provide the same compensation to male and female employees who are based...
This article discusses the current construction cycle, “mature,” and, more specifically, some of the most crucial contracting terms for this cycle. We generally recognize four construction cycles; namely, rock bottom, burgeoning, mature and declining. Different construction cycles require different contract terms because each cycle presents its own benefits and challenges. For example, during the burgeoning...
Because of the complexities of the U.S. trademark registration system, many trademark owners from other countries, and their counsel, are reluctant to file national or international applications in the United States. One of the reasons often given is the higher cost of obtaining trademark protection in the United States due to the statutory requirements and...
There has been a lot of press and hype about the use of blockchain technology. Although the technology sounds “cool,” it may not be the best solution for every business. What is blockchain technology? Blockchain technology is one version of a broader technology called “distributed ledger technology,” or DLT. Think of how businesses generally collect or...
