By Lawrence Sheh, Brian Reilly, and Madeline Ursini An updated version of this Client Alert is available, which includes the March 1, 2024 U.S. District Court decision – view here. This is a reminder that the Corporate Transparency Act (“CTA”) took effect on January 1, 2024. Under the CTA, all entities formed or registered to...
Client AlertsCommercial FinanceNewsIRS Issues Much-Anticipated Regulations for Transferrable Clean Energy Tax Credits
January 24, 2024
By Amy T.M. Oakley and Madeline M. Ursini The IRS recently issued proposed regulations describing rules for eligible taxpayers that may now elect to transfer certain clean energy credits to unrelated third parties under Section 6418 of the Internal Revenue Code (IRC) enacted under the Inflation Reduction Act (IRA). The clean energy tax incentive market...
Client AlertsEmployment & LaborNewsU.S. DOL Issues New Rule on Independent Contractor Classification, Returning to More Employee-Friendly Analysis
January 22, 2024
By Morgan E. Hedly and Michael A. Gamboli The U.S. Department of Labor (DOL) published a new rule (the “New Rule”) on January 9, 2024, defining “independent contractor” under the Fair Labor Standards Act (FLSA). Effective March 11, 2024, the rule returns to a six-factor test that asks whether, as a matter of economic reality,...
By Alicia J. Samolis, Sean M. Fontes, and Michael A. Gamboli Have you updated your policies for 2024 yet? If not, chances are you are violating the law. Here are some recent changes all employers should consider: NLRA DISCLAIMERS. The National Labor Relations Board (NLRB) was busy this year issuing new requirements for handbook policies,...
Client AlertsCommercial FinanceNewsRecently Modernized Community Reinvestment Act Expected to Increase Investor Demand for Tax Credits
December 29, 2023
By Amy Oakley and Madeline Ursini On October 24, 2023, representatives of the Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation released their final rule with respect to the Community Reinvestment Act (CRA), which is intended to strengthen and modify current regulations (Community Reinvestment Act Final Rule). Per the most recent update, which will...
Client AlertsCorporate & BusinessNewsNonprofitThe Corporate Transparency Act – Must a Nonprofit Organization Comply?
November 30, 2023
By Lawrence J. Sheh, Elizabeth O. Manchester, Brian J. Reilly, and Madeline M. Ursini Beginning on January 1, 2024, the vast majority of new and existing business entities will become subject to beneficial ownership information reporting requirements under the Corporate Transparency Act and its related rules and regulations (collectively, the “CTA”). The CTA requires certain...
Client AlertsLand UseNewsReal EstateMassive Development Potential Unlocked with New “Adaptive Reuse” Amendments to RI Zoning Statutes
November 17, 2023
By Michael L. Mineau Following up on recent PSH Land Use Client Alerts on June 26, 2023 and August 22, 2023, an important collection of bills were passed through both houses of the Rhode Island state legislature in June and signed into law. These new laws, which will mostly become effective January 1, 2024, significantly...
By Loren F. Sutton and Jay R. Peabody “Your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your competition, customers and business.” — Mark Sanborn. This past July, Boston Mayor Michelle Wu, following the lead of several other major cities around the...
By Morgan E. Hedly and Michael A. Gamboli Recent amendments to the Massachusetts Paid Family and Medical Leave (PFML) law now allow employees to use accrued paid leave, such as sick time, vacation time and personal days, to supplement PFML benefits at any time during leave. The Department of Family and Medical Leave (DFML) has...
By Neil Smola Governor Maura Healey signed a tax relief package into law on October 4, 2023, making changes to how the Massachusetts estate tax is calculated. The new law doubles the Massachusetts estate tax exemption from $1 million to $2 million. The new law also removes the so-called “estate tax cliff” so that only...
