Discounts

News & Analysis as of

Treasury Issues Proposed Regulations Limiting Valuation Discounts on Transfers of Family-Controlled Entities

The Treasury Department recently issued long-awaited proposed regulations regarding valuation discounts of interests in corporations and partnerships for estate, gift and generation-skipping transfer tax purposes. If...more

Seventh Circuit Reverses Package Size Promotional Service Decision Under the Robinson-Patman Act

On August 12, 2016, the Seventh Circuit reversed the district court decision allowing Woodman’s Food Market, Inc.’s (Woodman’s) price discrimination lawsuit against The Clorox Company and The Clorox Sales Company (Clorox) to...more

Important news for family-held businesses: IRS proposes imminent changes in family valuation discounts

On August 2, 2016, the Treasury Department issued Proposed Regulations to Section 2704 of the Internal Revenue Code. These proposed regulations are directed at family controlled entities (many of which hold operating...more

Treasury Department Issues Proposed Regulations on Valuation Discounts

On Aug. 2, 2016, the Treasury Department issued proposed regulations on valuation discounts. These proposed regulations make sweeping changes to the valuation rules for family-owned entities. If the proposed regulations...more

Valuation Discounts for Transfers of Interests in Family Entities May Be Severely Curtailed – You May Want To Act Now

On August 2, 2016, the Treasury Department and the Internal Revenue Service (the "IRS") issued proposed regulations under section 2704 (the "Proposed Regulations") of the Internal Revenue Code of 1986, as amended (the...more

Business lease renewal rent – where fiction is stranger than fact

The recent unreported County Court judgment in Britel Fund Trustees Limited v. B&Q PLC is important for both landlords and tenants. The key issue concerned the application of section 34 of the Landlord and Tenant Act 1954...more

OIG Advisory Opinion Approves Drug Discount Program

Last week, the OIG posted favorable advisory opinion (16-07) regarding a proposed discount program for Part D beneficiaries who are prescribed a statutorily excluded erectile dysfunction drug. The OIG concluded that while...more

Discounting Alcoholic Beverages

Happy hours, daily drink specials, and promotions are popular incentives used by retail licensees to attract business, remain competitive, and satisfy their customers’ expectations. In implementing these practices, however,...more

How to Detect Under the Table Rebates

In a bid to get customers not only through the doors, but opening their wallets, sellers often employ discounts, rebates, and similar price-cutting tactics. In complex business to business transactions, one supplier may be...more

OIG Issues (Another) Favorable Advisory Opinion Regarding Medigap/Preferred Hospital Network Arrangement in Advisory Opinion 16-01

On January 7, 2016, the Department of Health and Human Services, Office of Inspector General (OIG) issued Advisory Opinion 16-01, approving yet another insurer’s proposed contract with a preferred hospital network. The...more

Eleventh Circuit's Surcharge Ruling Sets up Possible Supreme Court Showdown

Why it matters - Setting the stage for a possible visit to the U.S. Supreme Court, the Eleventh Circuit Court of Appeals ruled that Florida's prohibition on imposing a surcharge on credit card purchases while...more

Eleventh Circuit Strikes Down Florida’s No-Surcharge Law

On November 4, 2015, the Eleventh Circuit struck down Florida’s no credit-card surcharge statute as unconstitutional under the First Amendment. See Dana’s Railroad Supply v. Attorney General, Florida, No. 14-14426, 2015 WL...more

What discount structures can a dominant firm use? European Court supplies further guidance

The European Court has given further guidance on how to assess the legality of rebates and discounts offered by dominant firms in a case concerning rebates practised by Post Danmark, which at the relevant time enjoyed a...more

D.C. District Court Deals Blow to HHS 340B Program Interpretive Rule

Court says Congress has the power to make the change that HHS attempted with its Interpretive Rule, and thus it should be left to the legislative branch. A lawsuit challenging the Interpretive Rule, filed by the...more

This Week In Securities Litigation

The Manhattan U.S. Attorney announced the filing of motions to dismiss the insider trading conviction of Michael Steinberg, formerly a portfolio manager at SAC Capitol, and six others in the wake of the Second Circuit’s...more

Canadian Bankruptcy Considerations in Factoring Transactions

Factoring transactions, in which a buyer purchases outright or acquires an interest in a seller’s accounts receivable, are becoming increasingly common. Initially, the buyer must determine whether the transaction is to be...more

Business Lit Ledger - Fall 2015

In this Fall issue of our newsletter, you will find a review of several significant legal developments. For example, our antitrust group reviews actions taken by the Federal Trade Commission and the Department of Justice...more

Business Law: The Distinction of Six of One, Half a Dozen of the Other. Second Circuit Upholds New York’s Prohibition on...

After nearly two years in limbo, the Second Circuit Court of Appeals has decided that the New York law that prohibits merchants from imposing a surcharge on customers who use credit cards is constitutional and, therefore,...more

Cheap Flights for Flying Blind

European discount airline Germanwings has a practice it calls “Blind Booking”. The concept is straightforward. Essentially you don’t know your destination city until after you have booked the flight. But for €33...more

IRS Plans to Further Restrict Family Business Valuation Discounts

IRS regulations anticipated for release as early as this September may further restrict valuation discounts. The exact scope of the regulations is unknown, but the regulations will likely make it more difficult for taxpayers...more

Cross Subsidization For Purpose Of Enhanced Grocery Sales Through Alleged Below Cost Gasoline Discounts Found Not To Violate...

Injury to competing retail fuel stations is non-actionable where market conditions demonstrate that an “incipient antitrust violation” is not imminent. Dixon Gas Club LLC v. Safeway Inc., Case No. A139283 (Court of Appeal 1st...more

California PUC Reforms California Teleconnect Fund

At a California Public Utilities Commission meeting on July 23, the Commission approved Decision 15-07-007, which restates the program goals of the California Teleconnect Fund (CTF) and implements a series of reform...more

FTC Comment: Minnesota Law Requiring Public Disclosure of Health Care Contract Data Increases Risk of Anticompetitive Behavior

On June 29, 2015, the Federal Trade Commission (FTC) responded to a request for comment from two Minnesota state legislators concerning recently enacted amendments to the Minnesota Government Data Practices Act (MGDPA). Under...more

Valuation Discounts at Risk

Yogi Berra used to say, “A nickel ain’t worth a dime anymore.” But a dime may be worth a nickel ... at least for the time being. Valuing interests in family-controlled entities is a challenging process, and an area where...more

Buy One Get One (Discounted) Only Violates The Sherman Act If The Discount For The “Tied” Product Is Below Cost

In a recent opinion, Collins Inkjet Corp. v. Eastman Kodak Co., the Sixth Circuit held that differential pricing in a tying arrangement (i.e., “I will charge you less for printer replacement parts, but only if you buy all of...more

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