On April 2, 2020, the Department of Treasury and the Small Business Administration (SBA) posted the Interim Final Rule implementing Sections 1102 and 1106 of the CARES Act in advance of its publication in the Federal Register. On April 3, 2020, SBA also released an overhauled Paycheck Protection Program loan application form.
The new
In the midst of a global pandemic and the highest unemployment rates the United States has seen since 1933, President Trump signed into law the $2 trillion dollar Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), providing economic relief to businesses, States and municipalities, and individuals affected by COVID-19. While the scope of
In this Spring/Summer 2019 newsletter, Greenberg Traurig’s Blockchain & Cryptocurrency Practice covers the latest developments in digital assets, utility tokens, security tokens, convertible virtual currencies, smart contracts, initial coin offerings, crypto investment regulation, and more, both in the United States and around the globe. Our team stays abreast of existing laws, recent enforcement actions, and
The Foreign Investment in Real Property Tax Act of 1980, as amended (FIRPTA), imposes tax on gain realized on disposition by nonresident alien individuals or foreign corporations (non-U.S. persons) of a U.S. real property interests (USRPI) by treating such gain as effectively connected with the conduct of a U.S. trade or business by such non-U.S.
You are invited to learn about recent legislative updates and professional insights pertaining to Chinese law and business conduct.
Among topics discussed in this current issue are Administrative Measures for foreign-invested future companies issued by the China Securities Regulatory Commission; revised draft of Measures Governing Foreign Strategic Investment in Listed Companies released by MOFCOM; new
The recent Supreme Court ruling allowing states to tax online sales could result in a disruption in the operations of portfolio companies owned by private equity firms. With little time to act, chief financial officers need to know how to deal with the consequences of this decision that has significantly changed the tax landscape.
Although the sales tax collection obligation of online retailers was the focus of last month’s momentous U.S. Supreme Court case South Dakota v. Wayfair, it will also impact state corporate and income tax obligations. Companies may now be exposed to state income tax as a result of the Wayfair case and should examine their
On June 21, the U.S. Supreme Court decided South Dakota v. Wayfair, allowing states to tax online sales even if the retailer does not have a physical presence in the state. This decision, abandoning a 26 year-old precedent (based on a case heard 25 years before that) has shaken the retail industry. This
On July 13, 2017, the U.S. Tax Court, in Grecian Magnesite Mining, Industrial & Shipping Co., SA v. Commissioner,1 rejected the long-standing Internal Revenue Service (IRS) position that a non-U.S. person is taxed on the sale of an interest in an entity that is a “partnership” for U.S. federal income tax purposes (hereinafter,