On August 28, 2020, the Internal Revenue Service issued Notice 2020-65 (the “Notice”) to provide guidance on implementing the employee payroll tax deferral contained in President Trump’s Presidential Memorandum of August 8, 2020. The Notice authorizes, but does not require, employers to defer withholding and payment of the 6.2% employee-paid Social Security tax on wages
For the past three years, the trade war between the U.S. and China has placed economic stress on the two economic powerhouse countries. However, the trade pact that the two countries reached in January 2020 seemed to alleviate some of that pressure and even hinted that economic and political tensions might be on a path
The U.S. Securities and Exchange Commission (the “SEC”) believes that it is in the public interest for companies (“U.S. Public Companies”) with reporting obligations under the Securities Exchange Act of 1934, as amended (the “1934 Act”), that undertake material acquisitions to disclose those acquisitions to the public. The information to be disclosed would include, among
Following enactment of New York’s COVID-19 sick law, Governor Cuomo signed into law on April 3, 2020 a separate and permanent statewide sick leave law (the “Law”). The Law adds a new Section 196-b to the New York Labor Law that requires private employers, regardless of size, to provide sick leave to their employees who
As part of its “New York Forward” reopening plan1 for “Phase II” businesses, New York State authorized office-based businesses (other than medical offices) to reopen on June 22, 2020; provided they meet certain “minimum” requirements in light of COVID-19. These requirements must be met for office-based businesses to reopen, as well as by office-based businesses
Selling a business involves significant risk and is something that most owners do only once in their lifetime. A seller must “do it right the first time” and avoid pitfalls that can result in a reduced number of interested buyers, a reduced sale price, unfavorable payment terms, a large at-risk escrow amount, or a deal
