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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.
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.