The Closer – M&A, Securities & Corporate Counsel

While the sale of a business can result in a healthy lump sum for successful founders and their shareholders, the sale often results in recognition of gain, which is subject to taxation. The potential tax liability on gain recognition is where Section 1202 steps in as a beneficial tax planning […]

Nebraska’s 2023 Legislative Session—Slow Going The 2023 Nebraska Unicameral Legislative Session attracted national attention on more than one occasion due to controversial bills, debates, and comments from senators.  One senator’s statement that she would “burn the session to the ground”[1] over a controversial bill foretold of difficulties to come.  Though […]

Last week, the Nebraska Department of Revenue published a summary of the numerous tax changes resulting from the most recent Nebraska Legislative Session. Income Tax The maximum individual and fiduciary income tax rate was reduced to 6.84%, which will take effect January 1, 2023.  The corporate maximum tax rate was […]

Unanticipated support from a key legislator expands the likelihood of the recently proposed Inflation Reduction Act (the “Act”) passing through the Senate.  Among other goals, the Act aims to increase tax revenue by targeting particularly wealthy individuals and entities.  The Act’s advocates argue that increased tax revenue can be used […]

The Opportunity Zone Investment Program (the “Program”) was authorized by the 2017 Tax Cuts & Jobs Act (“TCJA”) as a mechanism to stimulate economic development in certain low-income community population census tracts designated as Opportunity Zones (“OZs”) by providing tax incentives to investors.[1] Congress intended to create three main incentives […]