New Domestic Content Adder Guidance: ‘Buy American’ is Back
On May 16, 2024, the Department of the Treasury and the IRS announced the release of Notice 2024-41,[1] which clarifies the safe harbor for classification of project components created in Notice 2023-38 and provides a new safe harbor for the domestic content bonus credit percentages for clean energy tax credits offered under the Inflation Reduction…
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Maximizing QSBS Benefits with Estate Planning: The Art of Stacking
The number of taxpayers seeking the benefits of Qualified Small Business Stock (“QSBS”) has picked up steam in recent years, particularly since the Tax Cuts and Jobs Act (“TCJA”) lowered the federal corporate tax rates to 21%. The combined effect of lower corporate tax rates together with the benefits of QSBS have made corporations attractive,…
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Adverse Possession in a Closely Held Company? ‘Stash’ This One Away
Imagine for a moment that you’re a shareholder in a closely held corporation. In most jurisdictions, that status as a shareholder obligates you to a heightened fiduciary duty to your fellow shareholders. Now imagine that your closely held corporation is in the real estate business, and one of your fellow shareholders sues the corporation for…
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Florida State and Clemson vs. the ACC: Is There a Way Out for Both?
Both the Florida and North Carolina courts have now dipped their toes into Florida State University’s (“FSU”) dispute with the Atlantic Coast Conference (“ACC”) over the high exit price the school must pay to leave the conference. As we wrote last December, FSU and the ACC kicked off the holiday season with reciprocal lawsuits concerning…
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The Heat Is On SEC’s Climate-Related Disclosure Rules
On March 6, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new final rules requiring issuers to include extensive disclosure in registration statements and periodic reports regarding material climate-related risks and impacts on their business strategy, financial condition and results of operations.[1] The release promulgating the final rule, which is 885 pages long,…
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Noncompete, Overtime Rules Change, But Legal Challenges Remain
April 23, 2024, was a big day for the Biden Administration, as the U.S. Department of Labor (“DOL”) and Federal Trade Commission (“FTC”) almost simultaneously launched new revamped rules which will affect millions of employers and employees nationwide. There are important items and deadlines for both rules which employers will have to comply with absent…
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Short-Term Rental Proposal is Latest Threat to Airbnb/Vrbo Business Model
In many states, the tide appears to be turning against short-term rentals. With restrictions on short-term rentals, such as Airbnb and Vrbo, on the rise, businesses operating short-term rental properties are running out of options. Such restrictions are not unheard of in larger vacation hot spots such as Miami or Nashville, seemingly with the goal…
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Should Solar Developers Pursue Community Solar? Incentives Can Be Key
With the proliferation of renewable energy and sustainable technologies, individuals of every income range have tried to find ways to benefit from the technological advances. Those who have the resources and interest may purchase an electric vehicle; those who want to minimize their carbon footprint may use more efficient heating and lighting; but those who…
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Allocating Risk in Real Estate Sales: Representations and Warranties
Although a majority of buyers in real estate transactions rely on their own inspections of property, most real estate purchase and sale agreements contain some seller representations and warranties regarding key factual matters that the buyer cannot independently verify. These representations and warranties serve as closing conditions as well as a basis for post-closing indemnification.…
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Amid Shifting Policies, Employee Handbooks Can’t Be Static Manuals
As we’ve said before, one of the easiest and least expensive tools for businesses to reduce liability and insulate from (at least some) risk, is often the one most frequently overlooked. Creating, promulgating, and most importantly enforcing an employee handbook is a simple and efficient way to communicate company policy and expectations to your employees…
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