News Tag: Client Alert

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

By: Sharon C. Lincoln In a move that put tax-exempt organizations – including churches and soup kitchens – on par with publicly traded corporations, the Tax Cuts and Jobs Act (TCJA) added section 4960 to the Internal Revenue Code (the Code).  The law imposes an excise tax on remuneration in excess of

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

This is the fifth (and final)  in a series of client advisories to commemorate the 5th anniversary of the MA benefit corporation statute Reading for the Greater Good:  Two New Engaging and Informative Books on Social Venture This fall saw the release of two notable books that discuss social enterprise

  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

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

  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

  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