SEC Provides Filing Deadline Extension for Companies Affected by the Coronavirus (COVID-19)
On March 4, 2020, the Securities and Exchange Commission (SEC) issued an Order providing some regulatory relief to publicly traded companies with operations in areas affected by the Coronavirus Disease 2019 (COVID-19). To the extent such companies have certain disclosure filings due between March 1… Read More
Thanks to the SECURE Act, Your IRA Has Really Lost Its Stretch!
At the end of December 2019, Congress passed and the President signed into law the Setting Every Community Up for Retirement Enhancement Act, known as the SECURE Act. The Act is effective for IRAs, Roth IRAs and most 401(k) and 403(b) accounts (collectively “IRAs”) of… Read More
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Corporate and SecuritiesSEC Publishes Private Placement Concept Release
The first rule of federal securities laws is often said to be that an offer and sale of securities is either: (1) registered with the SEC, (2) exempt from registration, or (3) illegal. Many companies use transaction exemptions to design their capital raises through private… Read More
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Corporate and SecuritiesJersey Shore Landlords Become Subject to New “AirBnB Tax”
In one of the more recent attempts to regulate and tax the growing internet economy, New Jersey has become one of the first big states to adopt a surcharge on rentals of fewer than 90 days, a so-called “AirBnB Tax”. Though the tax became effective… Read More
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TaxNew Year’s Resolutions for Business Owners
As the New Year is here, many of us spend time creating a list of personal resolutions that often times look like the same list we prepared last year! New diets, gym memberships often top the list. As a business owner it’s a good time… Read More
Fair Workweek Law Promises Significant Changes to Employment Practices
On December 20, 2018, Mayor Jim Kenney signed into law the Fair Workweek Employment Standards Ordinance. Set to take effect on January 1, 2020, the law requires employers in the retail, hospitality, and food industries with 250 or more employees and 30 or more locations… Read More
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EmploymentWatch Out For Sales Tax
The Pennsylvania Sales Tax is imposed upon each sale at retail of tangible personal property and a few selected services. The Use Tax is imposed upon the use within the Commonwealth of Pennsylvania of tangible personal property purchased at retail and a few selected services… Read More
NJ ABC Suspends Enforcement of ‘Special Ruling’ on Limited Brewery Licenses
The New Jersey Division of Alcoholic Beverage Control (“ABC”) announced Tuesday, October 2, 2018 that it will suspend enforcement of the Special Ruling, which was issued by the ABC less than two weeks earlier, on September 21, 2018, relating to limited brewery licenses. ABC’s Special Ruling… Read More
New Law Incentivizes Investments in Delaware-based Small Businesses by Offering Refundable Tax Credit to Angel Investors
On May 24, 2018, Delaware Governor John Carney signed the Angel Investor Job Creation and Innovation Act (the “Act”) into law, amending Titles 29 and 30 of the Delaware Code in an effort to spur job creation and innovation within the State. The Act is… Read More
Charitable Pledge Binding Upon Corporate Donor
Prior to May 29, 2015, Foremost Industries (“Foremost”) signed a “Gift Agreement” promising to pay to Appalachian Bible College (“ABC”) the sum of $4,000,000 in five equal annual installments. The Agreement was binding upon Foremost and its successors and assigns. The Agreement stated that in… Read More