Lawful Thoughts®
Focused on Legal Issues Affecting Businesses
of All Shapes and Sizes
Virginia Pass-Through Entity Tax and Multitier Tax Partnerships
Virginia just enacted a pass-through entity tax (“PTET”), which applies in 2021 through 2025, inclusively. Many commentators have addressed the PTET, and I defer to them for the details. The PTET allo...
Continue ReadingOpportunity Fund Zones: Three Ticking Clocks?
On November 7, 2018, I published a blog entitled: “Opportunity Zones: Tax Deferral and Exclusion Beyond Like-Kind Exchanges”. Since then, the Treasury Department has issued over 500 pages of Final Reg...
Continue ReadingRecent Developments: (A) The “Material Adverse Change” Clause (Part II); and (B) Changes to the Small Business Bankruptcy Debt Limit
RECENT DEVELOPMENTS: (A) THE “MATERIAL ADVERSE CHANGE” CLAUSE (PART II); AND(B) CHANGES TO THE SMALL BUSINESS BANKRUPTCY DEBT LIMIT. Two years ago, as COVID began to take its toll on the economy, ...
Continue ReadingLegal Trailblazers in Honor of Black History Month
To recognize Black History Month, Spotts Fain will be spotlighting a few of the many Black attorneys who had a significant impact on equal access to justice in the United States. We hope you will join...
Continue ReadingUnderstanding Virginia’s “Source of Funds” Protections
Last October, the Virginia Attorney General’s Office filed several lawsuits against various Virginia landlords and property management companies alleging discrimination against renters participating i...
Continue ReadingFederal Appeals Court Shoots Down Loan Guarantor’s Claims of Fraud and Duress
This month we review a recent federal appeals court decision with important lessons for lenders engaged in commercial loan workouts. A business owner tried to void his personal guaranty of two large b...
Continue ReadingVirginia Marijuana Laws Go Up in Smoke
Virginia employers still adjusting to numerous new laws that have taken effect in 2020 and 2021 also need to be aware of permissive changes in Virginia marijuana laws, which affect employment practice...
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