Legal Entities

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More obligations for companies - don't miss out

Starting October 1, 2016, new data should be entered in the Unified Federal Register of Information about Facts of Activities of Legal Entities - We remind you that Article 7.1 of Federal Law No. 129-FZ On State...more

Eighth Circuit: A Debt Collector May Call A Third Party More Than Once Without Violating § 1692b(3) of the FDCPA

In Kuntz v. Rodenburg LLP, No. 15-2777, – F.3d –, 2016 WL 5219884 (8th Cir. Sept. 22, 2016), the Eighth Circuit held that a law firm hired to collect a debt did not violate § 1692b(3) of the Fair Debt Collection Practices Act...more

Court Rules Board Of Directors Is Incapable Of Being Sued

Plaintiffs sue corporations and they sue individual members of the boards of directors, but can a plaintiff sue a board of directors as a body? That was the question in Theta Chi Fraternity, Inc. v. Leland Stanford Junior...more

Treasury Proposes Regulations That Would Require Private Trust Companies to Establish or Enhance AML Programs and to Identify...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published proposed regulations on August 25, 2016 that would require certain private trust companies utilized by high net worth individuals,...more

High Net Worth Family Tax Report, Vol. 11, No. 2

IRS Seeks to Limit Valuation Discounts for Family-Controlled Entities: Proposed Section 2704 Regulations - Proposed regulations issued on August 2, if finalized in their present form, will significantly limit the ability...more

Proposed Treasury Regulations Will Eliminate Most Valuation Discounts in Connection with Transfers of Interests in Family...

On August 4, 2016, the Treasury Department and the IRS published Proposed Regulations under Internal Revenue Code § 2704 that, once effective, will eliminate most valuation discounts in connection with interests in family...more

Russian Companies: Know Your UBOs

All Russian legal entities must obtain information on their ultimate beneficial owners. Russia has recently amended its anti-money laundering law to require that any legal entity, whether private or public (with limited...more

ATF Final Rule 41F – Background Checks for Responsible Persons

Seyfarth Synopsis: Going forward, ATF’s new rule on applications by a trust or legal entity to make or transfer NFA firearms, requires that they be submitted on new forms — including background checks. The Bureau of...more

Wealth Management Update - July 2016

July Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The July § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

The New AML Regulations and Their Impact on Banks—Increased Compliance for Lending Transactions with Legal Entities

On May 11, 2016, FinCEN published in the Federal Register its long-awaited anti-money laundering (“AML”) rules (the “Final Rules”) governing corporate entities doing business with banks and other financial institutions that...more

Anti–Money Laundering Alert: FinCEN Finalizes Beneficial Ownership and Customer Due Diligence Requirements

The Financial Crimes Enforcement Network (FinCEN) on May 11 released its long-awaited Final Rule (CDD Rule) that will require certain financial institutions to “look through” the nominal account holder to identify the...more

FinCEN Issues Final Customer Due Diligence Rule

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has expanded the due diligence obligations of certain financial institutions that are subject to a customer identification program requirement under...more

FinCEN Customer Due Diligence Final Rules

On May 5, 2016, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued final rules (the Final Rules) on customer due diligence requirements for banks, securities broker-dealers, mutual funds, and...more

The Ins and Outs of Joint Powers Authorities in California

Joint Powers Authorities are legally created entities that allow two or more public agencies to jointly exercise common powers. Forming such entities may not only provide a creative approach to the provision of public...more

LEIROC consults on collecting parent data in the GLEIS

LEIROC has published a consultation on collecting data on direct and ultimate parents of legal entities within the Global Legal Entity Identifier System (GLEIS). It seeks views on: - uses of relationship...more

CMS Issues Final ACO Rules: Key Legal Implications for Hospital & Health System ACOs

On June 4, 2015, the Centers for Medicare & Medicaid Services (CMS) released a final rule (Final Rule) containing changes to its Medicare Shared Savings Program (MSSP). Some of the changes codify informal guidance that the...more

2015 Nevada Business Entities Law Update

The 78th Session of the Nevada Legislature made a number of changes to provisions of Title 7 of the Nevada Revised Statutes (NRS) governing business entities, including corporations, limited liability companies and limited...more

Law Firm Breakup - What You Need to Know When Dissolving the Entity

Law firm ‘partnerships,’ like other businesses, are similar to a marriage; at some point the parties may decide to part ways and dissolve their partnership. Among the many reasons for the dissolution of a law firm are...more

Tax Talk -- Volume 7, No. 3 -- November 2014

In This Issue: - IRS Clarifies Deadline for Correcting Withholding Documentation - Consent Payment Modifying Contingent Payment Debt Instrument Must be Tested for Significance - IRS Concludes Correction of Error...more

Court of Appeal Holds Transfer Tax Applies to Legal Entity Changes in Ownership

In 926 North Ardmore Avenue, LLC v. County of Los Angeles, the 2nd District Court of Appeal held that Proposition 13 changes in ownership prompted by transfers of legal entity interests should also be characterized as “realty...more

Private Equity Fees and Expenses

In This Presentation: - Agenda - Typical Fund Structure - Typical Fund Waterfall - Fund Economics- Nuances - LPA Provisions - Fund Due Diligence - Legal Landscape - PEI...more

Civil Code Reform on Companies

Special Alert: On 5 May 2014 the President signed Federal Law No. 99-FZ which introduces certain amendments to Chapter 4 of Part One of the Civil Code and removes certain provisions from Legislative Acts of the...more

Aircraft Transaction Basics - A Business Development Opportunity

This paper will describe the basics of aircraft transactions, including aircraft sale, purchase and ownership issues and how current aviation practitioners can expand their practice area to include aircraft transactions, pull...more

With 2013 Oregon Income Tax Changes, Some Businesses Should Revisit Their Ownership Structure

Oregon business owners operating in the form of sole proprietorships, wholly-owned LLCs, and closely held C corporations may wish to reconsider their business structure due to upcoming changes in Oregon tax law. As a result...more

Starting a Business? Start the Right Business.

After many years of working for other people, you’ve decided to strike out on your own and start a small business in your home town. You have the financial means and some initial ideas to get things going, but you are unsure...more

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