It goes without saying that a lender must work to maximize its recovery when a borrower is in default and has no reasonably realistic or meaningful way to cure the default. This scenario far too often forces a lender to determine the most efficient and effective method to sell its collateral ...
Although its emergence on the business scene is fairly recent, the Series LLC has been gaining popularity as a business entity. Under the Series LLC umbrella, this entity is able to create multiple Protected Series, each with its own separate rights, powers, assets, obligations, business purposes and associated members ...
The Series Limited Liability Company (“Series LLC”), a variation of the traditional limited liability company (LLC), is the newest entity enterprise on the business scene today.1 Within this legal entity, separate “series” or “cells” can be created and established under the umbrella of a single LLC ...
Since 1999, when it was an early adopter of the state banking regulators’ model private trust company act, Tennessee has earned a reputation for responding to the sophisticated trust and financial needs of ultra-high net worth families and their private offices ...
Generally when a successful business is acquired, whether by an asset acquisition or an equity acquisition, the assets will includeboth tangible and intangible property. When an entity conducting a business is liquidated, the tangible and intangible assets of the entity are distributed to the owners. Often, one very valuable intangible that does not appear on the balance sheet is goodwill ...
A large percentage of closely held businesses restrict or even prohibit the owners’ ability to transfer their equity interests. Often these restrictions require the owner to sell the equity back to the entity or the other owners at a formula value, for example, book value, that is not anticipated to be a true fair market value. These and other permanent restrictions on equity interests are called nonlapse restrictions because by their terms they never go away or “lapse ...
The Tax Cuts and Jobs Act of 2017 (the “TCJA”) created a new tax incentive designed to encourage long-term investment in low income communities, as defined in Code Sec. 45D(e),1 which are specifically designated as “qualified opportunity zones” (“QOZs”) in accordance with procedures set forth in Code Sec. 1400Z-1 ...
A webinar hosted by Shoosmiths in collaboration with Asset Reality. Scroll down the page to watch the webinar. Intro poll According to a recent survey, what percentage of millennial millionaires own cryptocurrency? According to a recent study conducted by CNBC, 83% percent of millennial millionaires own cryptocurrency with over half having at least 50% of their wealth in cryptocurrencies. https://cointelegraph ...
Domestic legislation1. Domestic law.Identify your jurisdiction’s money laundering and anti-money laundering (AML) laws and regulations. Describe the main elements of these laws. Law 25,246, enacted in 2000, was the first to regulate both criminal money laundering (by means of inclusions of specific money laundering and terrorism financing offences in the Argentine Criminal Code (ACC) and antimoney laundering provisions ...
In an earlier article in this series, we already discussed the planned changes in terms of moveable income. Whilst the changes may seem relatively limited at first glance, Dutch residents immigrating to Belgium will however encounter several peculiarities as set out in this article. Capital gains Capital gains, i.e. on shares, are in principle taxable in the state of residence ...
Income tax The following public rulings and guidelines have recently been published on the Inland Revenue Board of Malaysia’s official website: i. Tax Treatment of Research and Development Expenditure Part I – Qualifying Research and Development Activity (Public Ruling No. 5/2020) issued on 13 August 2020; ii. Tax Treatment of Research and Development Expenditure Part II – Special Deductions (Public Ruling No. 6/2020) issued on 13 August 2020; iii ...
Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings ...
