The Rhode Island Supreme Court once again adhered to its long-standing precedent that arbitration awards will not be overturned but for exceptional circumstances. In ABC Building Corporation d/b/a Advanced Building Concepts v. Ropolo Family, LLC, the plaintiff-general...
PLDO Law Blog
Month: April 2018
SUPREME COURT ISSUES DECISION ON FLSA EXEMPTION
On April 2, 2018, the United States Supreme Court issued a decision on the Fair Labor Standards Act ("FLSA") exemption that provides the FLSA's overtime pay requirement does not apply to any salesmen, partsmen, or mechanics primarily engaged in selling or servicing...
PRIOR SALARY HISTORY MAY NOT ALWAYS BE LAWFUL BASIS TO SET PAY
The Equal Pay Act provides that men and women should receive equal pay for equal work. In a recent case, Rizo v. Yovino, No. 16-15372 (Apr. 9, 2018), the United States Court of Appeals for the Ninth Circuit held that an employer cannot justify a wage difference...
MA Cannabis Control Commission Opens Application Process for Recreational Marijuana Licenses
On April 2, 2018, the Massachusetts Cannabis Control Commission began taking applications for adult use or recreational use marijuana licenses. The first eligible to apply are considered "Priority Certifications" and are those businesses that are already registered...
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...
