Overview -
Delaware General Corporation Law (the “DGCL”), Section 102(b)(7) was revised as of August 1, 2022, to allow Delaware corporations to provide their officers with exculpatory protections for personal monetary...more
The District of Columbia is implementing certain new regulations and has also enacted new legislation that will likely result in a reduction in expected investment returns and create overly burdensome government oversight...more
The District of Columbia (the District) imposes franchise taxes, in lieu of income tax, on “unincorporated businesses” such as partnerships or limited liability companies that are taxed as partnerships. The current franchise...more
In the wake of COVID-19, commercial landlords are facing unprecedented challenges as they strive to mitigate new risks while maintaining the rapport they have built in their professional communities and with their tenants. ...more
On May 5, 2020, the Council of the District of Columbia unanimously passed the “Coronavirus Omnibus Emergency Amendment Act of 2020” (Bill 23-750) with amendments (the Act). This legislation is one of several that have...more
Recording Office Closures-
The Coronavirus epidemic has caused multiple recording office closures. ALTA has been continuously updating the operating status of the various recording jurisdictions on its site, which you may...more
The cost of a real estate transaction in the District of Columbia is set to increase significantly after the DC Council unanimously approved a substantial increase in the transfer and recordation taxes charged in connection...more
The Internal Revenue Service has issued Notice 2018-23 (dated March 27, 2018) to implement transitional guidance for application of new IRC secs. 162(f) and 6050X. As described in our previous Client Advisory, those new tax...more
On November 2, Republicans in the House of Representatives unveiled H.R. 1, the Tax Cuts and Jobs Act, following months of negotiations between House and Senate Republicans and the Trump Administration, and moving a step...more
On August 2, the Internal Revenue Service issued proposed regulations that, if adopted, will have far-reaching effects on the valuation of interests in closely-held business entities for estate, gift and generation-skipping...more
Maryland’s estate tax is changing. On May 15, 2014, Governor O’Malley signed into law H.B. 739. The current Maryland estate tax exemption is $1 million per individual. ...more