As discussed in a prior "Did You Know," pre-closing income tax liabilities have historically not been much concern for the buyer of LLC interests, since the income of LLCs (taxed as partnerships) is not a liability of the target company but its selling partners.

Section 83(b) allows taxpayers to elect to include in their current taxable income certain compensation that would not otherwise be taxable until a future year.

It is widely understood that you can defer taxation of the gain on a sale of investment real estate if the sale proceeds are reinvested into new investment...

Major developments in Ohio's Municipal Income Tax System.

They are including language in their contracts giving them not only the right to use your data to train their AI models, but the right to extract fees...

Taft partner Matt Albaugh authored the article "Legal technology from the client's perspective: Good and bad," which was published in the Indiana Lawyer on Aug. 3.

Software audits are never random. If you are being targeted, the ERP vendor believes there is a revenue opportunity with your use of the software. ERP vendors take advantage of ambiguous terms in the contract.

This July, the U.S. Department of Commerce ("Commerce" or "the Department") added several European surveillance firms plying commercial spyware to its export control list.

On Dec. 3, 2024, the U.S. District Court for the Eastern District of Texas entered a nationwide injunction against the enforcement of the Corporate Transparency Act (CTA).

On Jan. 13, 2026, the Securities and Exchange Commission (SEC) released a statement noting its intent to reform Regulation S-K under the Securities Act of 1933, as amended (Securities Act).

The Minnesota Department of Employment and Economic Development (the Department) recently issued an update detailing the upcoming employer submission required under Minnesota's...

On Friday, July 9, 2021, President Biden signed an Executive Order (EO) targeting anti-competitive practices in a number of ways.

On Nov. 16, 2021, the Minnesota Pollution Control Agency (MPCA) released a Draft PFAS Monitoring Plan.

The Office of the Comptroller of the Currency (the "OCC"), Treasury; the Board of Governors of the Federal Reserve System (the "Fed Board"); and the Federal Deposit Insurance Corporation...

The Small Business Administration (SBA) announced on March 15, 2021, that it will defer repayments of Economic Injury Disaster Loans (EIDL) for 24 months for loans made in 2020...

The National Institutes of Health has announced the cancellation of its CIO-SP4 procurement and the sunsetting of CIO-SP3 contract vehicles in alignment with federal procurement consolidation efforts. With barriers to GSA Schedule Contracts being removed, including the elimination of the Price Reductions Clause, government contractors across all industries should evaluate whether now is the time to obtain or update their GSA Schedule Contracts to position themselves for future federal opportunities.

In one of his first actions in office, President Biden issued an Executive Order (EO) repealing President Trump's EO 13950, entitled "Combating Race and Sex Stereotyping."

On May 4, 2023, the Illinois Appellate Court, First District, affirmed the dismissal with prejudice of a lawsuit filed by NAV Consulting, Inc. against Taft client Sudrania Fund Services Corporation (SFS).

In addition to the Brownfield Remediation Grant Program, H.B. 110 also creates within Ohio Department of Development (ODOD) a new grant program (new R.C. 122.6512) that covers up to 75%...

In Guam v. United States, 141 S. Ct. 1608 (2021), the U.S. Supreme Court (SCOTUS) held that a settlement must specifically resolve CERCLA liability to create a right to contribution.