Vital Pharmaceuticals, Inc., the company behind Bang Energy drinks, along with certain affiliated entities including Quash Seltzer, LLC, filed for Chapter 11 bankruptcy protection on October 10, 2022 in the Southern District...more
10/14/2022
/ Bankruptcy Court ,
Beverage Manufacturers ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Debtors-in-Possession ,
Liquidation ,
Reorganizations ,
Sales & Distribution Agreements ,
Wholesale
We have heard from several clients asking about ways to help their employees that suffered tremendously from the wrath of Hurricane Ian. While there are a variety of Federal, State and private relief efforts underway,...more
On July 5, 2019, the Alcohol and Tobacco Tax and Trade Bureau (“TTB”) issued TTB Industry Circular 2019-2 advising that certain eligible beer, wine, and spirits wholesalers and importers shall have until December 31, 2019 to...more
7/11/2019
/ Beer ,
Beverage Manufacturers ,
Business Ownership ,
Change of Ownership ,
Disclosure Requirements ,
Importers ,
Regulatory Oversight ,
Regulatory Requirements ,
TTB ,
Wholesale ,
Wine & Alcohol
In addition to the more publicized portions of the recent tax legislation, certain provisions also positively impact your favorite local craft brew, regional small batch wine or even a locally distilled alcoholic beverage....more
1/8/2018
/ Beer ,
Breweries ,
Business Taxes ,
Corporate Taxes ,
Distributors ,
Excise Tax ,
Income Taxes ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
Vinyards ,
Wine & Alcohol
Last month, the IRS issued final regulations repealing its rule requiring that a Form 1099-C be filed whenever a financial institution (or certain other limited taxpayers) fails to receive payment on a debt for 36 consecutive...more
Since the enactment of the net investment income tax ("NIIT") in 2012, physicians and other taxpayers owning multiple business interests have had to make educated choices based upon accounting projections and SWAGS when...more
It's August of an election---year, and not just any election---year, a presidential election year. So, in less than 80 days, we'll all go to the polls and elect a new president. While Benjamin Franklin might have been right...more
8/31/2016
/ Business Succession ,
Business Valuations ,
Closely Held Businesses ,
Estate Planning ,
Estate Tax ,
Family Businesses ,
Family Limited Partnerships ,
Gift Tax ,
IRC Section 2704 ,
IRS ,
Limited Liability Company (LLC) ,
Partnerships ,
Proposed Regulation ,
Succession Planning ,
Transfer of Assets ,
Transfer Taxes ,
U.S. Treasury
Tennessee has long been known as a retirement friendly state and usually ranks in the Top 10 of any list identifying the best places in the U.S. for retirement. That reputation is about to be enhanced as Tennessee's...more
The recently enacted Trade Preferences Extension Act of 2015 (the "Act") contains a number of tax provisions affecting businesses and individuals which have not been widely reported. The Act adds a requirement for claiming...more
On January 17, 2013, the Department of Health and Human Services ("HHS") released its longawaited final HIPAA rule, which significantly expands certain obligations for covered entities and their business associates (the...more
On July 10, 2013, the Securities and Exchange Commission (SEC) promulgated long-awaited rules which will allow and govern how business owners and entrepreneurs may use media and advertising to reach potential investors. The...more
The filing of fraudulent tax returns resulting from identity theft is a growing business in America. If it wasn’t bad enough that the criminals would try to get money out of your bank or use the information to purchase goods...more
The filing of fraudulent tax returns resulting from identity theft is a growing business in America. If it wasn't bad enough that the criminals would try to get money out of your bank or use the information to purchase goods...more
Congress began 2013 by passing "The American Taxpayer Relief Act of 2012" (the "Act") reflecting a plan negotiated by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) to avoid a series of tax hikes...more