Corporate Law Blog

Business succession involving closely-held businesses

Kentucky business owners hope that when exiting a business they get out of it what they put into it. This is especially true when it comes to owners who have devoted much of their lives to a closely held business. More >

Shareholders bring lawsuit against the company president

A Kentucky politician has been accused by shareholders of using company money to fund his campaign activities. The shareholders of Liberty Rehabilitation claim that over $30,000 of the funds were used for campaign activities. The shareholders were concerned about the expenses and claim to have verified that improprieties were occurring. More >

Many high-tech companies moving to Kentucky

In 2013 Kentucky awarded 26 high-tech companies $6 million in state funds as a program to attract these types of businesses to our state. The funding is coming through two programs called the Small Business Innovation Research and the Small Business Technology Transfer Matching Funds program. More >

Top earners looking at closely held businesses concerning taxes

Many top earners throughout the United States are looking for strategies to reduce their tax load.  While businesses are always making such attempts, this year appears to be especially important due to tax hikes put into place by Congress. More >

Is US Tax Policy Pitting Corporate Giants Against Small Business?

The federal government shutdown may have put federal tax reform efforts on hold officially, although lobbying no doubt continues behind the scenes. Unfortunately, lack of official information makes longer-term business and corporate tax planning a bit more challenging. More >

Key Considerations in Your Family Business's Succession Planning

According to Forbes magazine, family businesses are responsible for 50 percent of the U.S. gross domestic product. Moreover, they account for 80 percent of all new job opportunities and make up 60 percent of all American jobs. Some 35 percent of Fortune 500 companies are still family firms. More >

For $340 Million, Globecomm Allows Wasserstein to Take it Private

Wasserstein & Co., the private equity firm founded by the late Bruce Wasserstein who also bought New York magazine in 2003, has made a deal to acquire satellite communications giant Globecomm Systems Inc. and take the firm private sometime in the fourth quarter of this year. Wasserstein & Co. was founded in 2001 and is known for making substantial merger and acquisition deals, including one worth $3 billion. More >

Did You Notify the IRS When Your Business Moved?

If your business or corporation has changed addresses in the past few years, are you certain the IRS was notified about your new address? If you’re not certain, you should check, or you could find yourself in an awkward situation if you’re ever involved in an IRS tax controversy. As a recent ruling by the U.S. Tax Court underscores, you could lose your right to challenge a federal tax lien if you missed the notification when it was misaddressed. More >

SEC Lifts Private Placement Advertising Ban: How Will it Work?

Earlier this month, the Securities and Exchange Commission announced what promises to be a fundamental change in the way small business startups can raise capital from private investors. Before this change, SEC financial services regulations, particularly Rule 506 of Regulation D of the Securities Act of 1933, have prohibited solicitation or general advertising of private placements in an effort to seek capital investments. In an effort to comply with the Jumpstart Our Business Startups Act, or JOBS Act, the new rule will permit the advertising of private placement offerings as long as two conditions are met. To simplify: only “accredited” purchasers will be allowed, and no “bad actors,” as defined by the Dodd-Frank Act, will be allowed to advertise. More >

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