Client Alert: Employers May Make Tax-Free Disaster Relief Payments to Employees

By Sharon C. Lincoln When President Trump formally announced that the COVID-19 pandemic was a national disaster, he opened the way for employers – businesses and nonprofit organizations alike – to make tax-free payments to employees who incur COVID-19-related obligations that are not reimbursed by insurance or otherwise. Section 139 of the

Client Alert: IRS Guidance Clarifies Scope of New Excise Tax on Parking Lots

By: Sharon C Lincoln Among the many revenue raising measures imposed on the tax-exempt sector in the Tax Cuts and Jobs Act (TCJA), Internal Revenue Code § 512(a)(7), imposes an excise tax at the new corporate income tax rate (21%) under the unrelated business income tax (UBIT) rules on expenditures made to

Client Alert: Quick Reference Chart – Delaware versus Massachusetts

  This is the fourth in a series of client advisories to commemorate the 5th anniversary of the MA benefit corporation statute Quick Reference Chart – Delaware versus Massachusetts While the convenience of organizing in Massachusetts may ultimately outweigh the flexibility of organizing under the Delaware public benefit

Client Alert: Nuts and Bolts of Delaware Public Benefit Corporations

Delaware is steadily becoming the go-to jurisdiction for the formation of benefit corporations. Over the past 12 months, the number of Delaware public benefit corporations has increased approximately 60%. No other state has seen such an increase. The Delaware public benefit corporation statute differs in some material respects from the model benefit

Client Alert: MA Benefit Corporation Law Turns Five

  December 1, 2017 marks a notable anniversary for social enterprise in Massachusetts.  Five years ago today on December 1, 2012, the benefit corporation statute – MGL Chapter 156E – went into effect.  What are benefit corporations? Generally speaking, a benefit corporation is a for-profit business corporation whose directors and

Client Alert: Employers Will Be Working Overtime to Implement Final Rule

  The highly anticipated revisions to the federal Fair Labor Standards Act (“FLSA”) overtime regulations for white collar workers were published by the U.S. Department of Labor on May 18, 2016 (the “Final Rule”).  The Final Rule increased the base salary threshold for white collar workers from $455 to $913 per week ($47,476