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McBrayer Blogs

Showing 8 posts from July 2014.

Merger between Trulia and Zillow has some concerned, others not

Business mergers can be a big deal, ushering in major changes both for companies themselves and for the markets and consumers the companies impact. It can sometimes happen that business mergers end up changing the market itself, and not always for the better. This can occur when the level of competition shrinks as a result of a merger. The recent merger of two real estate companies, Trulia and Zillow, has raised some concern in this area, at least for some. More >

KY Supreme Court Approves Plugging Holes with Others' Piggy Banks

Budget drafting is one of the most challenging, yet essential, functions of state governments. Unlike the federal government, which has the ability to run large deficits and print its own currency, almost every state - Kentucky included - has a statutory or Constitutional framework requiring a balanced budget. Every two years, the Commonwealth's budget drafters utilize familiar methods to balance the ledger: debt restructuring, adjusting tax rates and spending levels, infusing federal funds and taxing new revenue sources. Another option, less understood by the public but increasingly utilized by Kentucky policy makers, is "sweeping" restricted funds. This controversial task has just been made easier thanks to a recent decision by the Kentucky Supreme Court. In a 5-2 opinion, the practice of sweeping regulatory accounts was declared lawful, meaning that lawmakers may continue to transfer fees and fines collected by state regulatory agencies to the General Fund without violating the Kentucky Constitution. The legality of sweeping funds that are generated by a statutory tax (rather than fines and fees) was not directly addressed by the Court, leaving open the possibility that the sweeping of such funds may yet be deemed unconstitutional. More >

GE apparently considering selling venerable appliance unit

Six years after a failed attempt to sell the business division responsible for inventing the electric toaster back in 1905, General Electric is reportedly looking again to negotiate a deal. The division, GE Appliances and Lighting, has brought many modern conveniences forward, including refrigerators, washing machines and stoves, as readers may know. More >

Recap of the Data Protection Seminar

On July 17, McBrayer and Business Lexington presented a panel discussion on new Kentucky legislation, specifically House Bill 5 and House Bill 232, which affects business owners, non-profit organizations, and entities with government contracts who handle personal information. The panel included Trigg Mitchell, a senior associate from McBrayer's Corporate & Business Law Department, and Chris Nolan, a lobbyist and communication specialist from MML&K Government Solutions, among others. The panelists discussed how the laws came about, the definitions and details included therein, and provided real-world advice about how to institute security and breach notification policies and procedures. More >

Choice of entity is important for budding businesses

Choosing a business form with which to organize a growing business is not always an easier matter, especially for those with little experience in business. Selecting a business entity form is important, though, as it can help position a business to increase growth by offering certain protections, particularly in the areas of liability and taxes, as well as trademarks and licenses. More >

Home-Based Business Owners Require Licenses & Permits, Too

Apple, the billion dollar tech company, came from humble beginnings as a start-up in a California garage in 1977. Home-based business can be a satisfying and flexible option for individuals and, sometimes, it can be the start of something big. In the case of Apple, very big. It is crucial to remember, however, that if you are operating a business from your home, the business is still subject to license and permit laws. Understanding the required licenses and permits that you need upfront will save you from headache (and potentially fines and fees) down the road. There is not a one-size-fits-all checklist for home-based businesses because the requirements vary depending on the nature of the business (i.e., the industry involved) and its location. More >

Supreme Court decision highlights definition of closely held corporation

Many of our readers have already heard about the recent U.S. Supreme Court decision granting for-profit, closely held corporations the right to opt out of the federal contraceptive mandate. Because the scope of the decision was limited to such companies, it isn’t as far reaching as some had hoped for, although some commentators have pointed out that the language of the decision doesn’t make it entirely clear which businesses are affected. More >

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