News & Analysis as of

Business Ownership Corporate Officers

Farrell Fritz, P.C.

The Flexible “For Cause” Standard for Director and Officer Removal

Farrell Fritz, P.C. on

Sections 706 (d) and 716 (c) of the Business Corporation Law (the “BCL”) both contain a “for cause” standard for judicial removal of corporate directors and officers. Complaints with claims for judicial corporate director and...more

Rivkin Radler LLP

The Trust Fund Penalty – Times May be Tough, But Don’t “Borrow” from Withheld Taxes

Rivkin Radler LLP on

It’s wonderful to be part of a successful business, especially in a strong economy. The owners are probably enjoying a more than just decent return on their investment and, in most cases, are getting along well enough. The...more

Bennett Jones LLP

Zombie Working Interest Partners: A Scary Trend In the Oil Patch

Bennett Jones LLP on

While the popularity of zombies in film and popular culture has grown exponentially in the last decade, participants in the Western Canadian oil patch have increasingly been dealing with a different kind of zombie—"zombie...more

BCLP

Does the CCPA apply to information about businesses?

BCLP on

The CCPA only applies to personal information about “consumers,” a term which is defined as “a natural person who is a California resident.” As corporations or other legal entities are not people, the CCPA does not apply to...more

McNees Wallace & Nurick LLC

Department Recommences Responsible Party Assessments

When the Department of Revenue transitioned trust fund taxes to its “new” integrated computerized tax system last November, it temporarily suspended the issuance of responsible party assessments. In its most recent PA Tax...more

Katten Muchin Rosenman LLP

Introducing Personal Liability Into Corporate Negligence: An Analysis of the Trek Leather Decision

Are you an owner or officer of a small or midsize business? An import or trade compliance professional? Someone whose job responsibilities include some aspect of the process of importing merchandise into the United States,...more

McNees Wallace & Nurick LLC

Personal Responsibility for PA Tax Assessments

Under Pennsylvania law, there are important exceptions to the general rule that officers, employees and owners of a corporation or limited liability company have no personal liability for the business’s unpaid tax...more

Dickinson Wright

Michigan Enacts Changes To Administrative Tax Provisions Affecting Audits And Assessments

Dickinson Wright on

Michigan has enacted legislation that clarifies and streamlines a number of important tax administrative provisions. The changes affect the Department of Treasury’s ability to pursue and collect unpaid taxes from company...more

Pullman & Comley, LLC

Potential Personal Liability for Corporate Debts

Pullman & Comley, LLC on

A business experiencing financial difficulty will typically be forced to allocate its scarce resources toward payment of only some of its creditors. In that process, it is important to keep in mind that for some types of...more

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