What is The Corporate Transparency Act? The Corporate Transparency Act (“CTA”) is landmark federal legislation that significantly impacts how privately held corporations, LLCs, LLPs, and other entities report ownership information to FinCEN, a bureau of the U.S. Department of Treasury. The purpose of the CTA is to prevent financial crimes, […]
The Closer – M&A, Securities & Corporate Counsel
Equity Compensation as a Tool for Retaining Key Talent: Tax Considerations
Due to recent trends in the labor market, interest in offering equity compensation as a way to compete for and retain talent has grown quickly. Equity compensation is a payment in company equity typically granted to key employees and can act as a beneficial tool for companies looking to attract, […]
Taking Advantage of the Section 1202 Gain Exclusion
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 […]
A Long, Hard Road—Nebraska State Legislative Tax Update
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 […]
2022 Nebraska Legislative Session – Select Tax Changes
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 […]