Effective January 1, 2017, neither medical marijuana patients, nor their licensed caregivers, nor cooperative cannabis cultivations will be allowed to sell excess medical cannabis to dispensaries, known as Compassion Centers. Only licensed cultivators, a newly created...
PLDO Law Blog
Firm News
Be Wary of Tax Laws Concerning IRAs
This past June, the IRS issued a Private Letter Ruling (201623001) which impacts surviving spouses in community property states. The decedent and the surviving spouse were married in 2004 and lived in a community property state. They had a son, whom the decedent named...
New Guidelines for Private Management Contracts
In a move that should help facilitate public-private partnerships ("P3s"), the Internal Revenue Service has issued new 'safe harbor' guidelines for private management contracts involving bond-financed municipal assets. Revenue Procedure 2016-44, issued August 22,...
Succession Planning: Confronting the “What’s Next” Question in a Family Business
The "what's next" stage in the family business owner's life is challenging in that decisions have to be made in terms of succession to family members or selling the business and retiring. Yogi Berra would say that when you arrive at this fork in the road, "take it."...
Recent ADA Decision Likely to Spur Employee Lawsuits
Employers in the four easternmost New England states should be aware of recent case law that may radically impact their obligations under the Americans with Disabilities Act (“ADA”). Federal courts in those states are subject to the guidance of the U.S. Circuit Court...
SEC Adopts a New Definition of “Accredited Investor”
On August 26, 2020, the Securities and Exchange Commission (the “SEC”) adopted amendments to the definition of “accredited investor.” The amendments permit investors to qualify as accredited investors based upon additional criteria focused on financial sophistication,...
DOL Solicits Public Comment on Independent Contractor Proposed Rule
On September 22, 2020, the U.S. Department of Labor (the “DOL”) released a proposed regulation addressing when a service provider should be classified as an independent contractor rather than an employee. The change is important to both employers and service providers...
Cautionary Insight Regarding Bonuses and The Wage Act
Massachusetts and Rhode Island are among those states that have enacted a Wage Act, under which employees who receive less than their full compensation due can sue for treble damages. In fact, in Massachusetts, a Wage Act violation leads to mandatory treble damages....
Irrevocable Trusts: Taking Care of Yourself and Your Retirement
Many people do not consider protecting assets for future long-term-care costs until they, or their spouse, requires skilled nursing care. Others are aware of the high price of such care (in some cases more than $10,000 a month) but believe that they have saved enough...
