Client Alerts Archives - Page 18 of 52

Client Alerts Corporate & BusinessSBA Announces Loan Necessity Questionnaires for PPP Loans of $2 Million or Greater

November 10, 2020

The Small Business Administration has announced in the Federal Register the release of two proposed questionnaires for recipients of Paycheck Protection Program (PPP) loans of $2 million or greater. One questionnaire will collect information from for-profit borrowers, and the other questionnaire is for non-profits. The questionnaires have not been posted to the SBA’s website but...

Client Alerts Corporate & BusinessScammers Obtain Fraudulent SBA Loans by Posing as Legitimate Companies

November 3, 2020

When tragedy hits, there are always nefarious people who will try to profit. The ongoing COVID-19 pandemic is no exception. There have been recent instances in which scammers have successfully used publicly available information of unsuspecting companies to fraudulently apply for Economic Injury Disaster Loans from the Small Business Administration (SBA). In one example, a...

Client Alerts Employment & LaborCDC Expands the Definition of “Close Contact” for Purposes of Quarantine and Contact Tracing

October 22, 2020

The Centers for Disease Control and Prevention (“CDC”) recommends quarantine for those who have been in “close contact” to a person who tested positive for COVID-19. Local health departments (and employers) typically rely on the CDC guidance in performing contact tracing and notifying exposed individuals. Yesterday, the CDC broadened the definition of “close contact” from...

Cannabis Client Alerts Corporate & BusinessCannabis on Many Ballots this November

October 21, 2020

While some states’ ongoing efforts to legalize cannabis via voter referendums have been impacted by the COVID-19 pandemic, a number of states will still be presenting the voters with questions regarding legalization of cannabis this year. Arizona, South Dakota, Montana and New Jersey voters will vote on adult recreational use legalization, while Idaho and Mississippi...

Client Alerts Corporate & Business Employment & LaborSBA Issues Guidance on Treatment of PPP Loans in Mergers and Acquisitions

October 7, 2020

On October 2, 2020, the SBA issued guidance under a procedural notice (the “Notice”) providing information concerning the required procedures for changes of ownership of an entity that has received a Payroll Protection Program (“PPP”) loan (such entity, a “PPP Borrower”). Under the guidance, if a change of ownership occurs in a PPP Borrower, prior...

Client Alerts Employment & LaborRhode Island Minimum Wage Increases to $11.50 Per Hour

September 30, 2020

By Alicia J. Samolis Beginning October 1, 2020, the minimum wage that employers must pay Rhode Island employees increases to $11.50 per hour. All employers must pay this minimum wage regardless of the employers’ size and revenue. Employers should update their workforce posters accordingly. It is important for employers to note that failing to pay...

Cannabis Client AlertsBe Mindful of Potential Zoning Hurdles to Rhode Island Marijuana Licenses

September 23, 2020

Regulations governing the issuance of certain marijuana-related state licenses in Rhode Island do not require that applicants have specific municipal approvals but do require evidence of compliance with local zoning laws. This can create a hurdle that applicants do not anticipate in . In one recent decision, the Superior Court upheld the City of Pawtucket’s...

Client Alerts Commercial FinanceRhode Island Commerce Revises Eligibility Criteria for “Restore RI” Grant Program

September 21, 2020

By David M. DiSegna On September 21, 2020, Rhode Island Commerce revised the eligibility criteria for the Restore RI grant program to allow more small businesses to receive aid. The program provides grants of between $1,500 and $15,000 to small businesses impacted by the COVID-19 pandemic. Eligible businesses must have a physical location in Rhode...

Client Alerts Employment & LaborNew FFCRA Rule Published September 16, 2020

September 16, 2020

By Alicia J. Samolis The Department of Labor (“DOL”) published a new temporary rule (“New Rule”) today, September 16, 2020, revising and clarifying its previous April 1, 2020 temporary rule (“Prior Rule”) concerning the Families First Coronavirus Response Act (“FFCRA”). The New Rule clarifies intermittent leave issues, revises the optional exemption for employees of health care providers...

Cannabis Client AlertsInternal Revenue Service Clarifies Tax Rule for Marijuana Industry

September 15, 2020

The Internal Revenue Service (IRS) issued guidance on Thursday, September 10, 2020, to marijuana businesses. The new guidance does not change existing IRS rules, but briefly explains the rules for reporting income, paying taxes with cash, and keeping financial records. The new guidance, which also links to a “Marijuana Industry Frequently Asked Questions” document, confirms that income from...

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