On Wednesday March 25, 2020, the Senate passed the Coronavirus Aid, Relief and Economic Security Act (CARES ACT) The House approved the statute on Friday, March 27, 2020 and the President announced he would sign the law into effect as soon as he receives it.
Stock purchase agreements or buy-sell agreements are one of the two basic ways a buyer can purchase a business or interest in a business. The other is an asset purchase agreement.
If you are thinking of making substantial contributions to charity over time but currently are not sure which individual charities should benefit from your gifts, you should consider organizing a foundation through which you will funnel your charitable giving.
In rewarding key employees of a closely held or family-owned business, it is important to develop a key employee retention plan and to develop such a plan in the context of developing an owner/manager exit strategy so the two plans complement one another rather than conflict with one another.
For families with assets in excess of $4,000,000 in 2007 (assuming wills have been properly prepared), although a Federal Estate tax will have to be paid upon the death of the survivor of the husband and wife, the use of an irrevocable trust can provide the needed liquidity to pay any estate taxes which may be due while the principal of the trust can be beyond the reach of the estate tax provisions itself.
Many successful businessmen ask “what factors should I consider in taking my company public?” Some companies benefit greatly from being publicly traded while others, after the proceeds of a public offering are gratefully received, languish in obscurity never able to tap the markets again for needed capital and burdened by the disclosure and other requirements of being a public company.
Tribune Interactive, a subsidiary of Newsday’s parent Tribune Co., has purchased a real estate Web site that helps homeowners to sell their properties on their own, the company said yesterday.