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Posts tagged "Business"

Housing Crisis = Business Crisis

The California Department of Housing and Community Development distributes a weekly news update from various sources.  This week one of the articles was entitled "Housing crisis needs California lawmakers to build consensus now."  The opinion article is from the San Diego Union-Tribune Editorial Board, January 27, 2017.  

Business - CA Supreme Court Weighs in on Breaks

Business is subject to not only the statutes passed by the California Legislature, along with the administrative regulations promulgated to further carry out the statute's "purpose" but also rulings from the California Courts related to statutes and regulations.

Business May Not Benefit - 2017 New CA Employment Laws

Business operations in California are regulation challenged as each year adds additional statutes and regulations.  2016 was no exception.  The California Department of Industrial Relations through the Office of the Director on December 28, 2016 issued its summary of all of the new employment statutes effective January 1, 2017.  To review the new employment laws, click here.

Business May Benefit - CA Sales & Use Tax Decreased 2017

Business in California, as well as individuals, will see a drop in the California Sales & Use Tax in 2017. Diane Hartley, Board of Equalization, distributed a detailed explanation of the sales and use tax drop from 7.50% to 7.25%. In addition to the California Sales & Use Tax, local jurisdictions may also impose sales and use tax with the combination resulting in a tax higher than 7.25%.

Small Business Saturday: November 26, 2016

With Small Business Saturday less than one week away, we encourage everyone to go out and support their favorite small business. On September 14, 2016, thirty six (36) Republican and Democratic Senators introduced a senate resolution, which recognizes November 26, 2016 as "Small Business Saturday."

What is a "hybrid corporation"? Is it similar to a c-corporation?

Traditionally, directors of for-profit businesses are required to perform his or her duties in a manner that he or she believes is in the best interests of the corporation and its shareholders. This is often referred to as the duty to maximize financial return to shareholders. (Corp. Code ยง 309(a).) Today, some businesses are interested in more than just maximizing profits, which creates an inherent tension between the fiduciary duties owed to the corporation by its directors and the business operations of the corporation. 

Businesses Beware: Final paychecks are required for "retiring" employees too

Last month, the California Supreme Court handed down a decision that held that businesses must pay employees that "retire" in the same manner as prescribed by the Labor Code for employees who "quit."  (McLean v. California, 1 Cal. 5th 615 (2016).)

What is a Buy-Sell Agreement? Does My Business Need One?

A buy-sell agreement is a business contract most commonly entered into by individuals shareholders and the corporation. In simple terms, a buy-sell agreement is primarily used to restrict the transferability of the shareholder's shares of stock in the corporation by providing for the purchase of the stock by the other shareholders or the corporation upon certain predetermined events (e.g., death of a shareholder, insolvency of a shareholder, disability, retirement, attempt by shareholder to sell stock to a third party). By limiting the transferability of stock, the corporation's existing shareholders ensure that they remain in control and restrict the ability of third parties to obtain stock without their approval.  

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Loftin | Bedell P.C.
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