Like it or not, water utilities are destined to experience water main breaks. Given the age of the nation's water infrastructure systems, expansion of construction activities and other issues, it is inevitable that water main breaks will occur. Whatever their causes,...
PLDO Law Blog
Month: April 2014
Texting in the Workplace: Why Employers Must Tread Cautiously
By now, most employers have systems in place to organize and maintain emails that their employees send and receive. These systems are critical for business reasons and compliance purposes. However, many employers are ignoring or turning a blind eye to a growing means...
RISC DECISION WILL CREATE MAJOR CONCERNS FOR SOME COMMERCIAL LENDERS
The laws of virtually every state prohibit lenders from charging interest on loans in excess of the "usury rate" - the maximum interest rate permitted under the laws of the state. However, usury statutes vary greatly from state to state. Not only do the maximum...
HOW LIFE INSURANCE PROCEEDS COULD AFFECT A COMPANY’S VALUATION FOR ESTATE TAX PURPOSES
A recent case brought to light the impact that a stock-purchase agreement and life insurance proceeds may – or may not - have on the valuation of a closely held company for estate tax purposes. In this case that caused a split between the 8th and 11th Circuits, the...
HASTE MAKES WASTE . . . CASH THE CHECK.
One never knows what corner the grim reaper lies behind. A final illness can often accelerate quickly and deprive a donor of adequate time to complete gifts for tax purposes that he intended to make. In a recent federal court case, the Third Circuit Court of Appeals...
ATTENTION SNOWBIRDS: DO YOU PASS THE DOMICILE TEST?
“A person doesn't know how much he has to be thankful for until he has to pay taxes on it.” This anonymous quote is timely. It is rumored that the Rhode Island Division of Taxation (“the Division”) is reviewing its procedures for determining whether a Rhode Islander...
HOW CLOSELY HELD BUSINESSES CAN PREVENT MANAGEMENT DEADLOCKS
Differences in opinion on how to achieve a stated goal in a closely held business can lead to disputes that block the enterprise from moving forward. Closely held businesses are characterized by a limited number of shareholders and a lack of public trading. The...
WHY ESTATE PLANNING FOR BUSINESSES IS CRITICAL (NOT OPTIONAL)
Owning your own business can be extremely demanding. From your customers to your employees, there’s hardly enough time in the day. While most entrepreneurs are consumed by the day-to-day challenges of running their businesses, they often neglect the critical task of...
