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Valuation and C Corp. Taxes on Embedded Gains
In the first part of this article, we noted that the problem of how to value a holding company structured as a subchapter C corporation was recently tackled by the Appellate Division, First Department, in the context of a dissolution of marriage. But the question of whether and how such value should be reduced to reflect the federal and state corporate-level income taxes associated with the unrealized appreciation of marketable securities owned by a corporation is controversial. Before taking an in-depth look, in next month's issue, at the First Department's reasoning in the appeal of Wechsler v. Wechsler, 866 NYS2d 120 (1st Dept. 2008), we need to understand the Wechsler trial court's decision and discuss how other courts have handled the issue.
Recent Non-Matrimonial Cases
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
One Overlooked Element of Executive Safety: Data Privacy
Executives have access to some of the company's most sensitive information, and they're increasingly being targeted by hackers looking to steal company secrets or to perpetrate cybercrimes.