Exemptions

Employment And Labor Law Alert: Minnesota's Same-Sex Marriage Law: Effects On Employers

by Angela Bohmann, Jewelie Grape, Christina Sans | Leonard, Street and Deinard on 5/20/2013

On Tuesday, May 14, 2013, Governor Dayton signed into law a bill legalizing same-sex marriage in Minnesota (H.F. 1054 and S.F. 925), effective August 1, 2013....more

Demystifying European Antitrust Law

by Wilson Sonsini Goodrich & Rosati on 5/17/2013

In the first of a series of WSGR Alerts, the firm's Brussels attorneys outline the European Commission's proposed changes to the antitrust rules on licensing patents, software, know-how, and other intellectual property....more

Court Explicates Scope of Usury Exemption For Real Estate Brokers

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/16/2013

Artistotle didn’t think much of the idea of paying interest: (“As this is so, usury is most reasonably hated, because its gain comes from money itself and not from that for the sake of which money was invented. For...more

OSC’s Crowdfunding Proposal Receives Favourable Comments

by Justin Dharamdial, Hugo-Pierre Gagnon, Shahir Guindi, Matthew Oliver, Ward Sellers | Osler, Hoskin & Harcourt LLP on 5/15/2013

On March 8, 2013, the Ontario Securities Commission (OSC) closed the comment period on its Staff Consultation Paper 45-710: Considerations for New Capital Raising Prospectus Exemptions (the Consultation Paper), which sought...more

Are You Feeling Sick? New York City Passes a New Sick Leave Law

by Jill Lowell, Jean Schmidt, Terri Solomon | Littler on 5/13/2013

If at first you don't succeed, try and try again. That is what the New York City Council (the Council) has done since 2009. And after four years, the result is a controversial sick leave law, the Earned Sick Time Act (the...more

Ahhh…Spring

by Barbara Darkes | McNees Wallace & Nurick LLC on 5/10/2013

With Spring comes the emergence of many things, including reopening of decks, porches, sidewalk cafés, patios and other outdoor seating options. It’s a lovely idea to have music or other entertainment in these areas, whether...more

Lump-Sum Payments From Nonqualified Deferred Compensation Plans To Nonresident of New York Are Exempt From New York Income Tax

by Mark Hamilton | White & Case LLP on 5/10/2013

A recent advisory opinion from the New York State Department of Taxation and Finance concludes that payments received by an individual nonresident of New York in settlement of his benefits under two nonqualified deferred...more

An Exemption For Foreign Subsidiary Formation

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/8/2013

The formation of a subsidiary under the laws of a foreign country may not seem to implicate the California Corporate Securities Law. Yet, an offer and sale may occur “in this state” within the meaning of Corporations Code...more

Restaurant Industry Newsletter - May 2013: Would You Like Fries, or a Collective Action Overtime Lawsuit, With That Burger?

by Andrew Tanick | FordHarrison on 5/8/2013

A number of well-known restaurant chains have been hit with lawsuits over the last few years alleging that their exempt managers or assistant managers were indeed non-exempt and therefore should have been paid overtime. ...more

Unusual Compensation Plan Did Not Invalidate FLSA Exemption, 3rd Circuit Rules

by Michael Cardman | XpertHR - Partnered with LexisNexis on 5/7/2013

An employer may prorate the base pay of a salaried employee without forfeiting the employee's exemption from the overtime requirements of the Fair Labor Standards Act (FLSA), as long as it covers the shortfall with additional...more

Wisconsin Court Confirms Computer-Controlled Medical Devices Are Exempt From Property Tax

by Theresa Andre, Eric Hatchell, Maureen McGinnity | Foley & Lardner LLP on 5/6/2013

In 2008, the Wisconsin Tax Appeals Commission ruled that the following categories of computerized medical equipment are exempt from property tax: - Ultrasound equipment - Magnetic resonance imaging (MRI)...more

Healthcare Update, No. 2, May 2013: End of Companionship Exemption?

by Edward Boehm | Fisher & Phillips LLP on 5/6/2013

In April, the U.S. Labor Department (DOL) is scheduled to announce regulations that will almost certainly increase the cost of employing individuals as home care aides who are considered “companions” under the Fair Labor...more

Arkansas Revises Licensing Exemption

by Matthew Saunig | Ballard Spahr LLP on 5/6/2013

Arkansas recently revised certain exemptions from the Fair Mortgage Lending Act. Previously, a subsidiary of a state or federally chartered bank, savings bank, savings and loan association, or credit union was exempt from the...more

Canadian Securities Regulators Grant Exemptions from Wrapper Requirements

by Rob Lando | Osler, Hoskin & Harcourt LLP on 5/1/2013

A group of securities dealers has successfully obtained relief from most of the requirements that typically drive the need for a Canadian private placement supplement, or wrapper, for selling securities of non-Canadian...more

Arizona’s Bankruptcy Exemptions Go Up! And Why You Should Care

by John Skiba on 4/24/2013

Today was a pretty exciting day…if you are a bankruptcy attorney in Arizona. In fact, if you are needing to file bankruptcy and you live in the great state of Arizona you should be excited as well. Or at a minimum slightly...more

State Law Update: Tennessee, Kansas Update Mortgage-Related Provisions

by BuckleySandler LLP on 4/23/2013

On April 11, Tennessee enacted HB 160, a bill that makes certain minor changes to the state’s mortgage licensing law. The bill removes current licensing exemptions for (i) a person who owns a vacant tract of real property...more

Government Contractor Exemption Bill Passes House

by Bruce Ely, David Pugh | Bradley Arant Boult Cummings LLP on 4/17/2013

On April 9, the House of Representatives passed HB 419 on a vote of 89-6. The bill, sponsored by Representative Paul DeMarco (R-Homewood) among others and championed by the Alabama Chapter of the Associated Builders &...more

FY 2014 H-1B Cap Reached Within One Week

by Yova Borovska | Fowler White Boggs P.A. on 4/17/2013

For the first time since 2008, the statutory H-1B cap of 65,000 per fiscal year was reached within the first week of the filing period. In addition, the Immigration Service received more than 20,000 H-1B petitions filed on...more

Deadline Approaches for Amending Compensation Committee Charters

by Stephen Farrell | Morgan Lewis on 4/16/2013

Companies must comply with certain final NYSE and NASDAQ listing rules by July 1. By July 1, affected companies must comply with recent amendments to the listing rules of the New York Stock Exchange (NYSE) and the...more

Fenwick Employment Brief - April 2013

by Sheeva J. Ghassemi-Vanni, Daniel J. McCoy | Fenwick & West LLP on 4/16/2013

In Hatai v. Dept. of Transportation, a California court of appeal upheld a trial court's decision to exclude "me too" evidence of discrimination from individuals outside of the plaintiff's protected class, but in doing so...more

Financial Services Bulletin: Action At The CFTC, SEC, And Fed

by Perkins Coie on 4/12/2013

On Thursday, March 28, 2013, the Commodity Futures Trading Commission (the "CFTC") approved a final order that exempts certain non-financial energy derivative transactions between and amongst government-owned electric...more

So Much For "Permanent" - Transfer Tax Rates And Exemptions Are Back In Play

by Charles (Chuck) Rubin on 4/12/2013

Late last year, Congress and the President agreed to "permanent" transfer tax revisions that set the unified credit equivalent exemption at $5.25 million in 2013, indexed it for inflation, and set the maximum rate at 40%. At...more

CFTC Approves Clearing Exemption for Inter-Affiliate Swaps

by Blake Brockway, Ross Pazzol | Katten Muchin Rosenman LLP on 4/10/2013

On April 1, the Commodity Futures Trading Commission approved a final rule that permits certain affiliates to elect not to clear a swap. To qualify for the clearing exemption, the counterparties’ financial statements must be...more

"CFTC No-Action Letter Relieves End-Users of Part 45 Reporting for Trade Options"

by Maureen A. Donley, Erik Elsea, Theodore M. Kneller, Daniel S. Konar II, Mark D. Young | Skadden, Arps, Slate, Meagher & Flom LLP on 4/8/2013

On April 5, 2013, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) provided end-users no-action relief (the No-Action Letter) from certain “trade option” reporting and recordkeeping...more

CFTC’s Final Rule Exempting Certain RTO Transactions From CFTC Regulation Largely Affirms Earlier Order But Offers Helpful Changes...

by Robert Fallon | Leonard, Street and Deinard - Dodd-Frank and... on 4/8/2013

On March 28, 2013, the Commodity Futures Trading Commission issued a final rule that largely affirmed its earlier proposal to exempt certain FERC and Texas PUC regulated transactions from CFTC jurisdiction and provided...more

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