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News Briefs
Franchise Industry Watches Tax Nexus Case Carefully
The franchise industry is anticipating a U.S. Supreme Court decision in A&F Trademark, Inc., et al v. North Carolina, a case involving states' ability to tax businesses that are not based in that state. In the case, the Limited, Inc., a chain of clothing stores, which licensed its trademark through A&F Trademark, challenged a ruling by the North Carolina Secretary of Revenue that it owed corporate franchise and income taxes in the state. Ultimately, the North Carolina Court of Appeals upheld a ruling by the Wake County Superior Court that the presence of intangible property in North Carolina is sufficient nexus for the state to impose a state income tax. The appeals court rejected A&F's claim that its lack of offices, employees, tangible property, transactions with residents or customer service in North Carolina left it outside the definition of taxable nexus. The court said that the state's tax statutes defined the term “doing business” as “owning, renting or operating business or income-producing property in North Carolina including … [t]rademarks [and] trade names.”
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.