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Understanding the Jobs and Growth Tax Relief Reconciliation Act of 2003
The Jobs and Growth Tax Relief Reconciliation Act of 2003 (the '2003 Tax Act' or, simply, the 'Act'), signed by President Bush into law on May 28, 2003, provides strong inducements for the purchase of capital equipment. Together with record-low interest rates, the Act's 'tax subsidies' for the purchase of equipment should reduce the costs of equipment to equipment lessors and make them more competitive with asset-based lenders.
The 2003 Tax Act's inducements for the purchase of capital equipment are the increase in the maximum dollar amount of the cost of equipment that may be expensed under Internal Revenue Code ('Code') Section 179 from $25,000 to $100,000 for qualifying small businesses, and an increase from 30% to 50% together with an extension through 2004 (December 31, 2005 in certain cases) of the additional first-year depreciation that may be taken for qualifying equipment. In combination, these two measures can dramatically accelerate the deductions available for the year equipment is purchased and placed in service.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.