Auto Notes- July 2011



It’s Time to Dust Off Dealership Policies Against Discriminatory Harassment!

Does your dealership have a policy against discrimination and harassment? Does it cover all forms of discriminatory harassment? Does it prohibit discrimination on the basis of genetic information or sexual preference? Does it provide employees with multiple contacts to report complaints or concerns? If you answered “no” to any of these questions, it is time to dust off your dealership employee handbook and review your dealership employment policies to ensure that they reflect the current state of the law!.....

Important Tax Alert

As of January 1, 2011, the federal estate tax came back into full effect with a $5 million exclusion. At the same time, the exclusion from federal gift tax was raised to $5 million so that the exclusions are once again unified. The result of this is that each person may transfer during his life or at his death a total of $5 million before tax is imposed. Estate Tax will be imposed on transfers in excess of $5 million, at a flat 35% tax rate. As in the past, there are deductions for certain transfers to spouses and charitable organizations.....

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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