On October 14, 2016, the Nebraska Supreme Court held a taxpayer was eligible for the special capital gains exclusion based on a plain reading of the statute and that the economic substance and sham transaction doctrines could not be used to disallow the Nebraska special capital gains exclusion. The special […]
The Closer – M&A, Securities & Corporate Counsel
Look Before You Leap: The Ramifications of Electing S Corporation Status Too Early
on Tuesday, 5 April 2016 in
The Closer - M&A, Securities & Corporate Counsel: Kevin P. Tracy, Editor
For many small businesses operating an active trade or business, an election to form an LLC taxed as an S Corporation makes the most sense. It has several advantages, including limited liability, only one level of taxation, and minimal corporate formalities and other legal maintenance requirements. When compared to an […]
Executing Successful Joint Ventures (Part 4): Frequently Asked Questions
on Thursday, 31 March 2016 in
The Closer - M&A, Securities & Corporate Counsel: Kevin P. Tracy, Editor
How long will the joint venture last? Some joint ventures are intended to have unlimited terms. Others may be limited to the duration of a specific project. Still others may expire or change by operation of law, as when a concession right requiring local ownership expires. When a joint venture […]
New Reporting Requirements for Tax-Exempt Social Welfare Organizations
on Thursday, 31 March 2016 in
The Closer - M&A, Securities & Corporate Counsel: Kevin P. Tracy, Editor
The Protecting Americans From Tax Hikes Act of 2015 (PATH Act) imposes new reporting requirements for social welfare and community benefit organizations formed under Section 501(c)(4) of the Internal Revenue Code. The new requirements, found in Section 506 of the Internal Revenue Code, also impose penalties for failure to comply. […]
Captive Insurance Companies Proliferate Among Bank Holding Companies
on Thursday, 31 March 2016 in
The Closer - M&A, Securities & Corporate Counsel: Kevin P. Tracy, Editor
This article also appeared online on BankDirector.com. Banking is the business of managing risk. Be it credit risk, interest rate risk or technological risk, bankers are trying to control a highly leveraged earnings engine while avoiding risks that can result in sudden reversals of fortune. Yet many of the biggest […]
