Governor Roy Cooper signed into law changes to the North Carolina Wage and Hour Act that change employer hiring and termination processes. The changes are effective immediately. Hiring New Employees: At the time of hiring,...more
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) became law. We have already provided a summary of the provisions of the CARES Act relating to expanded small business loan...more
4/6/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Legitimate Business Interest ,
Net Operating Losses ,
Relief Measures ,
Retirement Plan ,
Tax Credits ,
Tax Deductions ,
Tax Deferral ,
Tax Relief
The Department of Labor has updated its Q&A page that we previously wrote about to answer many additional questions regarding the Families First Coronavirus Response Act. Highlights of this guidance are described herein....more
On March 25th, the Senate passed the bill entitled, the “Coronavirus Aid, Relief and Economic Security Act” (the “CARES Act”). This legislation is now before the House of Representatives. The CARES Act is intended to infuse...more
The Department of Labor has issued new, user-friendly guidance regarding the requirements of the Families First Coronavirus Response Act. You can access the Q&A here and further guidance here. We have summarized the new...more
3/30/2020
/ Child Care ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
EFMLA ,
EPSLA ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
New Guidance ,
Paid Family Leave Law ,
Posting Requirements ,
School Closures ,
Sick Leave ,
Sick Pay ,
Small Business
The IRS and DOL recently issued joint guidance enabling small and midsize employers to begin taking advantage of two new refundable payroll tax credits which are designed to immediately and fully reimburse them,...more
3/27/2020
/ Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employee Benefits ,
Employer Group Health Plans ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
IRS ,
New Guidance ,
Paid Sick Leave Act ,
Payroll Taxes ,
Popular ,
Reimbursements ,
Relief Measures ,
Retirement Plan ,
Sick Leave ,
Small Business ,
State of Emergency ,
Tax Credits
Equity compensation can be different in LLCs and corporations. LLCs have the benefit of using a special equity compensation tool called a “profits interest.”
Unlike a traditional stock option, which represents a right to...more
1/14/2020
/ Business Taxes ,
Equity Compensation ,
IRS ,
Limited Liability Company (LLC) ,
Membership Interest ,
Ownership Interest ,
Partnerships ,
Performance-Based Compensation ,
Profits Interests ,
Safe Harbors ,
Vesting