Background In December 2017, Congress’s passage of the Tax Cuts and Jobs Act created Qualified Opportunity Zones (“Opportunity Zones”). In general, a taxpayer who invests in an Opportunity Zone can defer capital gain taxes and potentially reduce his capital gain by receiving a 10% to 15% increase in basis, in addition to paying no tax on any appreciation of the investment in the Opportunity Zone. Click here to find a more detailed discussion of Opportunity Zones. Ohio’s House Bill 727 On August 29th, the Ohio General Assembly introduced House Bill 727 (“HB 727”), which seeks to further incentivize investments in …
DOL Publishes New FMLA Forms
Links to the new forms are below, or visit the DOL website to browse them at this DOL web page. Notices (pdf format) WH-381 Notice of Eligibility and Rights & Responsibilities WH-382 Designation Notice Certification forms (pdf format) WH-380-E Certification of Health Care Provider for Employee’s Serious Health Condition WH-380-F Certification of Health Care Provider for Family Member’s Serious Health Condition WH-384 Certification of Qualifying Exigency For Military Family Leave WH-385 Certification for Serious Injury or Illness of Current Servicemember – for Military Family Leave WH-385-V Certification for Serious Injury or Illness of a Veteran for Military Caregiver Leave Links …
Sports Betting: Coming to a City Near You
Last May, the United States Supreme Court ruled that the federal Professional and Amateur Sports Protection Act of 1992 (“PASPA”) was unconstitutional.[1] PASPA was enacted to prohibit state-sanctioned sports betting and effectively outlawed sports betting outside of Nevada (which was given an exemption). As a result, sports fans often turned to black market bookmakers to place wagers on their favorite sports teams. The Supreme Court reasoned that PASPA’s prohibition on state-sanctioned sports betting violated the 10th Amendment to the United States Constitution. The Supreme Court’s decision did not legalize sports betting nationwide. Instead, the Supreme Court simply held that each …
Coolidge Wall Selected as General Counsel for Greater Dayton Regional Transit Authority
The law firm of Coolidge Wall Co., L.P.A. is pleased to announce that the firm has been selected by the Greater Dayton Regional Transit Authority (RTA) to be their General Counsel. The RTA is a public transit agency that serves Montgomery County and Western Greene County. It is Ohio’s fourth largest public transit system and provides more than 11 million passenger trips per year on its buses, which operate seven days a week and 21 hours a day. “Coolidge is pleased to be selected by the RTA, a premier public transport provider and integral part of the people and communities …
Twenty Coolidge Attorneys Honored as The Best Lawyers in America® 2019
Coolidge Wall Co., L.P.A. is pleased to announce that 20 of its attorneys were recently selected by their peers for inclusion in The Best Lawyers in America® 2019. Best Lawyers is regarded as the definitive guide to legal excellence. Its process is based on an exhaustive peer-review survey on the legal abilities of other lawyers in their practice areas. Lawyers may not pay a fee to be listed, so inclusion in Best Lawyers is considered a singular honor. Corporate Counsel magazine called Best Lawyers “the most respected referral list of attorneys in practice.” The Coolidge attorneys selected for inclusion in …
The Game of Risk (Allocation)
According to Benjamin Graham in his book, The Intelligent Investor, “Successful investing is about managing risk, not avoiding it.” This same concept holds true and can be applied to transactions involving the purchase or sale of a small to medium sized business. Even with unlimited resources to conduct due diligence, there will always be risk for both the buyer and the seller in any business transaction. One of the most significant sources of risk in a business transaction is the risk of the unknown: in all cases, the buyer or seller “does not know what he or she doesn’t know”. …
Do’s and Don’ts When Your Company is Sued
Even in the age of tort reform, lawsuits are prevalent and an inherent cost of doing business. For most companies, it is not a question of if you will be sued, but when. Preparing for inevitable and arming yourself when that time comes are vital to protecting your interests and ensuring the longevity of your company’s success. To assist in that process, below are a few general do’s and don’ts for litigation success. Do: (1) Take any lawsuit filed against you seriously: By far one of the biggest mistakes businesses make when they are sued is not taking the complaint …
Supreme Court Holds Mandated Public Sector Union Agency Fees Unconstitutional
On June 27, 2018, the United States Supreme Court declared that fees charged to dissenting employees pursuant to a union agency shop arrangement violates the First Amendment. In a 5-4 vote in Janus v. AFSCME, Council 31, No. 16-1466, the court found in favor of Mark Janus, an Illinois public employee who refused to join the union yet had so-called agency or “fair share” fees taken from his paycheck every month, adding up to more than $500 each year. In finding for Janus, the Court overturned a 1977 decision, Abood v. Detroit Board of Education. There, a group of Detroit …
Recent Tax Legislation Eliminates Deduction for Confidential Sexual Harassment Settlements
Last December, Congress responded to an avalanche of sexual harassment and abuse claims across the country by including a provision within the Tax Cuts and Jobs Act at Section 13307 impacting an employer’s ability to obtain a tax deduction for settlements paid that include nondisclosure agreements. Internal Revenue Code Section 162(q) now provides that no deduction will be allowed for any settlement or payment related to sexual harassment or sexual abuse if such settlement or payment is subject to a nondisclosure agreement. Deductions for attorney’s fees related to such confidential sexual harassment settlements or payments are also prohibited. The drafters …
New Paralegal Joins Coolidge Litigation Department
The law firm of Coolidge Wall Co., L.P.A. is pleased to announce that Erika Shellhammer has joined the firm as a paralegal in its Litigation Department. Erika brings more than 25 years of experience to the firm. She has focused on litigation paralegal support for the past 18 years with firms in Dayton and Troy. Erika supports attorneys in all aspects of litigation, including discovery, research and trial preparation. “Erika is a great addition to the Litigation team,” said Richard Talda, Chair of the firm’s Litigation Department. “She brings a wealth of litigation support experience to Coolidge and our clients.” …