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How Will 100% Bonus Depreciation Impact Like Kind Exchange Programs for Lessors in 2011?
On Dec. 17, 2010, President Obama signed HR 4853, the “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010″ (the “ACT”). Among other things, the ACT increased the “bonus” depreciation deduction from 50% to 100% for qualified property acquired and placed in service between Sept. 8, 2010 and Dec. 31, 2011, and it extended 50% bonus depreciation for property acquired and placed in service in calendar year 2012.
With the enactment of 100% bonus depreciation in particular, many companies with active Like Kind Exchange (“LKE”) programs are wondering whether it makes sense to suspend their LKE programs for the balance of 2011. Their logic hinges on the federal income tax impact of LKE deferrals on the tax basis of replacement property available for a 100% bonus depreciation deduction. Since gain deferred by LKE reduces the depreciable basis of replacement property, it also reduces the amount of basis that might otherwise be deducted using 100% bonus depreciation.
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.
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.