CORPORATIONS LLCs and LPs: New Federal Beneficial Ownership Interest Report Required The recently enacted Corporate Transparency Act mandates filing a Beneficial Ownership Interest Report and marks a significant shift in how ownership interests must be reported to the federal government. The law aims to enhance transparency and curb illicit activities,...
Federal Court Strikes Down FTC's Non-Compete Rule What It Means for Employers In a surprising turn of events, a federal court in Texas has struck down the Federal Trade Commission’s (FTC) non-compete rule, just days before it was set to take effect on September 4, 2024. This ruling has sent...
California Amends Whistleblower Notice Requirements; Los Angeles County Introduces Fair Chance Ordinance California Whistleblower Notice Requirements Starting January 1, 2025, California employers must comply with updated whistleblower protection notice requirements under Assembly Bill 2299. The new law provides that the Labor Commissioner will develop a model list outlining employees' rights...
TOOLS FOR BUSINESSES Corporate restructurings, operational revamping of business entities, and partnership disputes sometimes require out-of-the-box resolutions. Depending on the situation, we have placed a Chief Restructuring Officer, obtained a court receiver, placed an independent director on the board, and used other tools to solve business problems. If the goal...
IRS Form 1099: What Lawyers and Clients Need to Know Lawyers and clients have ample reasons to care about IRS Forms 1099, which allow computer matching of Social Security numbers and dollar amounts paid. In most cases, Forms 1099 report income, so if you receive a Form 1099, check the...
BUSINESSES ARE FILING BANKRUPTCY AT THE FASTEST PACE SINCE THE PANDEMIC Corporate bankruptcies are surging. June saw the highest monthly bankruptcy filings since 2020. Supply chain issues continue; consumers are spending less; and retailers are closing brick and mortar locations. The pandemic stimulus set off a shopping spree that lasted...
New California Security Deposit Law Takes Effect Today, July 1, a new California law is now in effect limiting security deposits to one month's rent for both furnished and unfurnished units. This legislation, AB 12 by Assemblyman Matt Haney, D-San Francisco, was signed into law by Gov. Gavin Newsom in...
CALIFORNIA PRIVATE ATTORNEY GENERAL ACT (PAGA) CHANGES Employers: the California Private Attorney General Act (“PAGA”) is being amended to impose new limits on who can bring a PAGA action and the scope of Labor Code violations that a plaintiff employee can pursue; it will also create caps on penalties for...
FEDERAL COURT UPHOLDS CALIFORNIA’S AB5 ON EMPLOYEE CLASSIFICATION The full 11-judge panel of the Ninth Circuit Court of Appeals upheld California’s AB5, which redefined how courts determine whether workers are independent contractors or employees. This decision has significant implication for employers across the state. AB5, enacted in 2020 was originally...
CALIFORNIA UPDATES: TWO MANDATORY PAMPHLETS REQUIRED FOR NEW HIRES California made updates to two crucial pamphlets that employers are required to provide to new hires. (1) The “TIME of Hire” pamphlet provided by the California Department of Industrial Relations Division of Worker’s Compensation and (2) the “For Your Benefit” pamphlet...