In the event of an M&A transaction, many stockholders plan to take advantage of the exclusion from federal taxable income of gain realized from the sale or exchange of “qualified small business stock” (QSB stock). Section...more
6/16/2023
/ Acquisitions ,
C-Corporation ,
Capital Gains ,
Federal Taxes ,
Gain Exclusion ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investors ,
IRS ,
Mergers ,
Qualified Small Business Stock ,
Shareholders ,
Small Business ,
State Taxes ,
Tax Planning
US Market Review and Outlook -
Venture capital financing and liquidity activity contracted in 2022 from the record-breaking levels of the prior year, in the face of declining equity markets, rising interest rates and...more
4/7/2023
/ Acquisitions ,
Capital Raising ,
Convertible Notes ,
Corporate Financing ,
Early Stage Companies ,
Entrepreneurs ,
Equity Financing ,
Investors ,
Mergers ,
Qualified Small Business Stock ,
Venture Capital
One of the headline tax changes in the Inflation Reduction Act of 2022, Public Law 117-169, is a 1% excise tax on stock repurchases by public companies. New Section 4501 of the Internal Revenue Code applies a non-deductible...more
1/13/2023
/ De Minimus Doctrine ,
Dividends ,
Excise Tax ,
Fair Market Value ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Leveraged Buyout ,
Liquidation ,
Loan buy-backs ,
Reorganizations ,
Stock Repurchases ,
U.S. Treasury
One of the headline tax changes in the Inflation Reduction Act of 2022, Public Law 117-169, is a 1% excise tax on stock repurchases by public companies. Public issuers should be aware that the new tax, which applies beginning...more
On January 12, 2021, the Internal Revenue Service (IRS) and the Treasury Department released final regulations governing the deductibility of certain fines, penalties and other amounts paid to, or at the direction of, a...more
On Friday, June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (the Act) became law. The Act modifies previously adopted CARES Act provisions related to the Paycheck Protection Program administered by the...more
The CARES Act’s marquee stimulus provision for small businesses - forgivable loans under the paycheck protection program (“PPP”) - was supposed to come without a tax bill. Or at least that was what Congress seemed to say when...more
In our prior nonprofit alert, we reported that the Internal Revenue Service (the “IRS”) had not extended most federal tax payment and filing deadlines for exempt organizations. The IRS notices issued up to that point (Notice...more
On April 1, 2020, The U.S. Department of Labor issued temporary regulations interpreting the Families First Coronavirus Response Act (FFCRA). The FFCRA provides certain employees who are unable to work due to the COVID-19...more
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), an economic stimulus package providing over $2 trillion to aid Americans affected by the COVID-19...more
The CARES Act (the Act) enacted on Friday, March 27, contains several provisions designed to provide relief for nonprofit organizations. In addition, a number of the provisions under the Act designed to help small businesses...more
Since our last alert, Congress has passed the CARES Act stimulus legislation, and the Internal Revenue Service (“IRS”) has released further guidance on tax deadline postponements, issued a nationwide evacuation notice, and...more
The federal government and numerous states have announced changes in tax filing and payment dates in response to the COVID-19 pandemic. Tax credits have been made available for new family leave and sick leave payments...more
3/24/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Filing Deadlines ,
Income Taxes ,
IRS ,
Popular ,
Relief Measures ,
State of Emergency ,
Tax Returns ,
Time Extensions ,
U.S. Treasury
On June 21, 2018, the US Supreme Court issued its decision in South Dakota v. Wayfair, Inc., overruling the Quill physical presence nexus test for collection of sales and use taxes by remote vendors. Under the physical...more
Prior to the Tax Act, the principal method for avoiding the double taxation of overseas corporate earnings—once by the local country and a second time by the United States as the multinational's home country—was the foreign...more
We previously reported to you that effective July 1, 2017, Massachusetts would require the collection of Massachusetts sales and use taxes by internet vendors that meet certain sales thresholds in Massachusetts pursuant to...more
The Massachusetts Department of Revenue (DOR) recently issued guidance under which it will require the collection of Massachusetts sales and use taxes by remote sellers that meet certain sales thresholds in Massachusetts....more