Take a deep-dive into state and local tax considerations for M&A including deemed asset sale considerations, business versus non-business income, Nexus issues, and more with Ulmer attorneys Frederick N. Widen and Adam R....more
On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “Economic Aid Act”) became law. The economy continues to struggle from the effects of the coronavirus pandemic. This new law...more
1/26/2021
/ Borrowers ,
CARES Act ,
Certification Requirements ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Economic Injury Disaster Loans ,
Eligibility ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business ,
Tax Deductions
Congress gave recipients of loans under the Paycheck Protection Program (PPP) a holiday present when it confirmed the deductibility of expenses paid with proceeds of a PPP loan that is forgiven. This confirmation is part of...more
12/22/2020
/ Business Expenses ,
CARES Act ,
Coronavirus/COVID-19 ,
Income Taxes ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Expenses ,
Small Business ,
Small Business Loans ,
Tax Deductions ,
Tax Planning
Late last week Congress approved and the President signed the Paycheck Protection Program Flexibility Act of 2020 (“Flexibility Act”). This new bill attempts to address some of the more troubling requirements when applying...more
Join Ulmer partners Alan W. Scheufler, Bradley D. Kaplan, and Frederick N. Widen as they explore updated answers from the SBA and U.S. Treasury Department to the PPP FAQs and new questions raised based on that information....more
As part of the 2017 Tax Cuts and Jobs Act, Congress added a new provision to the Internal Revenue Code allowing investors to defer capital gains by making investments into Qualified Opportunity Funds (QOFs). However, many...more
4/23/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Internal Revenue Code (IRC) ,
Investment Funds ,
IRS ,
New Guidance ,
Opportunity Zones ,
Partnerships ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Investments ,
Safe Harbors ,
U.S. Treasury