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Tax Nexus Update for Franchisors
Franchisors thinking of expanding into new jurisdictions, and even those that are not changing anything, should be wary. State and local governments, in this time of deficits, are constantly looking for ways to increase their revenues by broadening the scope of their taxes.
According to a report for the Council on State Taxation, “Total State and Local Business Taxes 2000-2004,” released in April 2005, over the last 4 years:
- state and local taxes on businesses have risen faster than total state and local taxes, and business has paid 52% of the increase over those years;
- the corporate income tax represents only 8% of state and local taxes nationally (and the corporate share of federal taxes is about the same); and
- individual income taxes paid by owners of non-corporate businesses represent only 4% of total state and local business taxes.
The states, which generally must run on balanced budgets, are searching for revenues from any source so that they don't have to cut domestic programs too drastically.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.