Maintain Lower Tax Assessment by Purchasing Membership Interests or Stock vs. Real Estate
When a person or entity purchases real estate in New York State a deed is recorded in the county clerk’s office of the county in which the property is located evidencing the conveyance of the real estate. In order to record the deed the purchaser must also submit a New York State Real Estate Transfer […]
Unique Estate Planning Opportunities in 2020
The federal gift and estate tax exemptions (the amount an individual can give away during lifetime and at death before which there is a federal estate or gift tax) have varied wildly over the last few years. Below is a chart demonstrating the drastic changes in the federal gift and estate tax over the years. […]
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Civil Jury Trials to Re-Commence on September 8th as Part of Phase IV.I Court Reopening Plan
On August 10, 2020, New York’s Fifth Judicial District, which includes Onondaga, Oneida, Oswego, Jefferson, Lewis and Herkimer Counties, entered Phase IV.I of its reopening following the emergency closure caused in March 2020 by the COVID-19 pandemic. As part of Phase IV.I, civil jury trials are scheduled to restart on a limited basis beginning September […]
Can I trademark “[insert food here].com”? The Supreme Court says “Maybe!”
Recently, the Supreme Court concluded another historic term, handing down landmark decisions in employment discrimination and executive immunity, among others. However, this also means cases like United States Patent and Trademark Office v. Booking.com, B.V. (“Booking.com”), a case decided at the end of June with broad application in the area of trademark law, do not […]
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EMPLOYEE RETENTION CREDIT AS AN ALTERNATIVE TO A PAYCHECK PROTECTION LOAN
The popular Paycheck Protection Loan is not the only tax-free cash infusion provided to businesses by the CARES Act. Section 2103 of the Act provides an additional means for employers to obtain tax free cash to assist in retaining employees during the period of business contraction caused by the Corona virus government mandates. Section 2103 […]
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Fifth Judicial District To Expand Virtual Court Proceedings, but Still Limited
The COVID-19 pandemic has put much of daily life on hold, but there are positive signs that a return to normalcy, or at least the new normalcy, may not be far off. Since approximately March 30, 2020, Central New York’s Fifth Judicial District (encompassing Herkimer, Jefferson, Lewis, Oneida, Onondaga and Oswego Counties) has been operating […]
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Governor Cuomo’s April 7th COVID-19 Executive Order Makes Remote Will Executions a (Virtual) Reality
“Update: Although offices can now be open and restrictions regarding in-person gatherings are starting to ease, the Governor has issued another executive order that extends the ability to do remote witnessing until August 5, 2020.” COVID-19 has brought estate planning to the forefront of the minds of many individuals, particularly at-risk populations such as senior […]
Governor Cuomo’s April 7th COVID-19 Executive Order and its Impact on the Business and Legal Affairs of New Yorkers
“Update: The statute of limitations extension discussed below has been extended further by the Governor until August 5, 2020.” On April 7, 2020, Governor Cuomo signed Executive Order 202.14 (“EO”) as part of New York’s continuing efforts to combat COVID-19. This new EO affects both individuals and businesses in a variety of ways. Extension of […]
Force Majeure Contract Clauses in the Coronavirus Pandemic
Countless contracts – for the sale of all kinds of goods and services – contain “force majeure” clauses. “Force majeure” – literally “superior force,” sometimes called an “act of God” – is an event beyond the control of the parties that prevents performance of a contract. Many contracts contain force majeure clauses providing that, should […]
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Custody in the Time of COVID-19
In the past month, New Yorkers have been told to shelter-in-place and self-quarantine in an effort to mitigate the spread of the COVID-19 virus and “flatten the curve.” Non-essential workers are working from home while others are unfortunately laid off or furloughed as businesses temporarily shutter their doors. It is an uncertain time for us […]