On April 18, join Winstead attorneys Trip Dyer, Ben Gehlbach, Daniel Bell-Garcia, Jacob Loehr, Matt Dzura, and Cole Gearhart, along with Whitley Penn Partner Shea Krachek, for our Real Estate Startup half-day virtual seminar....more
A common surprise for a new Delaware startup’s management team is the Delaware Franchise Tax. A management team often receives a letter informing it that its new corporation owes thousands of dollars in taxes and often is not...more
ELIMINATION OF TERMINATION EXEMPTION FOR DISTRICT OF COLUMBIA UNINCORPORATED BUSINESS FRANCHISE TAX - Under District of Columbia Code, resident or nonresident limited liability companies and general and limited...more
Business owners in the State of Texas face a lot of tough decisions. Perhaps the most significant of these decisions is the choice of entity the business will utilize while conducting its operations. Similar to many other...more
Something Is Rotten- There’s a gray pall hanging over New York that has clouded the judgement of many politicians, and has left many of its residents feeling anxious and off-balance. No, it’s not the smoke from all the...more
What is a franchise tax? A franchise tax is an annual tax a business entity is required to pay in a given jurisdiction as a result of being formed or organized, or for doing business, in that jurisdiction. In Delaware, the...more
Development of solar projects in California has been spurred by California’s renewable portfolio standard (RPS), which requires that 60% of retail electricity sales must be served by renewable resources by 2030 and requires...more
OTA rules for out-of-state corporation. The FTB has broadly interpreted California’s “doing business” standard for decades. The California Office of Tax Appeals (OTA) recently released to the public an opinion dated...more
When the legislature enacted the former Beverly-Killea Limited Liability Company Act in 1994 it included a levy on LLCs equal to specified dollar amounts based on the total income from all sources reportable to this state for...more
If a corporation or LLC stops doing business in a state in which it was registered to do business as a “foreign” company, just walking away does not end its responsibilities in that state. State statutes apply different terms...more
On April 11, 2018, the General Assembly’s Revenue Laws Study Committee released a draft tax bill for possible introduction in the legislative session that convenes May 16. This Alert provides a summary of the more important...more
The Series limited liability company (the “Series LLC”) is more nuanced than an ordinary limited liability company, and for the right user, it provides flexibility that will streamline administration better than other...more
The California Franchise Tax Board (“FTB”) started 2017 with a setback as the Court of Appeal for the Fifth Appellate District held in Swart Enterprises, Inc. v. Franchise Tax Board that the FTB could not impose California’s...more
On January 12, 2017, the California Court of Appeal held in a published opinion that a taxpayer passively holding a 0.2 percent interest in a California-based limited liability company (CA LLC) was not “doing business” in the...more
ALJ holds that a Retailer Must File on a Combined Basis with a Related Intellectual Property Licensing Company - A New York State Administrative Law Judge has held that a retailer must file combined corporate franchise...more