A city’s lawsuit against various banks under the federal Fair Housing Act (“FHA”) to recover property tax revenues allegedly lost due to discriminatory lending practices has survived . . . for now. In a recent decision, the U.S. Supreme Court concluded that municipalities are within the FHA’s “zone of interests” and can sue for such...
It’s that time of the year again. Or maybe it isn’t. Effective for tax years beginning on or after December 31, 2015, the filing deadlines for many common federal tax returns have changed. As a result, taxpayers coming off a December year end may be in store for some surprises this Spring. The default income...
The nomination of Senator Jeff Sessions’ as Attorney General raises questions as to what impact he might have on the business of marijuana in the United States. Sessions has historically taken a hardline stance against marijuana, which is contrary to the position that has been taken by the Department of Justice under the Obama Administration....
As Senator Jeff Sessions’ nomination for Attorney General advances to the full Senate, questions are being raised as to what impact he might have on the business of marijuana in the United States. Sessions has historically taken a hardline stance against marijuana, which is contrary to the position that has been taken by the Department...
The Problem: The Dreaded Liquidation Overhang Convertible promissory notes and SAFEs (Simple Agreement for Equity) (let’s call both of these “convertible instruments”) are used regularly to raise capital in the early stage company space. It’s not uncommon for convertible instruments to have what’s called a “valuation cap.” Valuation caps set the maximum valuation at which...
Estate planning attorneys see a two-word change in the federal law governing special needs trusts as making a dramatic difference in meeting the needs of clients who suffer from disabilities. Last month, President Obama signed into law the Special Needs Trust Fairness Act, an amendment to existing law that will now allow people with disabilities,...
Is your business divided into separate entities? It isn’t an uncommon practice. Business owners often establish separate legal entities to manage different aspects of their business. One reason for doing so is to prevent the assets of one entity from being used to satisfy the debts of another entity. This can be effective, but an...
The Regulation and Taxation of Marijuana Act mandates the creation of a regulatory system to permit recreational use of marijuana in Massachusetts by January 1, 2018. Bill Moorman and David Pellegrino discuss several ways the new law will impact the insurance industry and its customers. Read the PS&H Client Advisory on the topic here.
In 2014, new federal legislation was enacted to help relieve the financial strain often faced by so many individuals with disabilities or special needs. The Achieving a Better Life Experience Act (“ABLE Act”) was signed into law on December 19, 2014 to provide those with disabilities an equivalent means of tax incentive-based savings already available...
On December 15, 2016, The Regulation and Taxation of Marijuana Act (the “Act”) became effective, decriminalizing marijuana ownership and use for private citizens in the Commonwealth, and mandating the creation of a regulatory system able to sustain state-legal recreational marijuana businesses by January 1, 2018. Such sweeping changes will impact various business sectors in ways both expected...
