Monthly Archives: June 2013

Ohio Statehouse Update: This Week in Ohio — June 28, 2013

The legislature put its final seal of approval on the state’s biennium budget this week, voting the bill out of both chambers. The details of the $62 billion spending plan will now be reviewed by Governor John Kasich who may exercise line item veto authority on the measure.

The conference committee members did not reduce the Commercial Activity Tax annual exclusion amount from $1 million to $500,000, as previously announced. Instead, the 0.26 percent tax rate for receipts more than $1 million stays intact and the following new minimum tax payments were established:

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McDonald Hopkins Government Strategies Advisory: This Week in Washington — June 28, 2013

NOTE:  With the House and Senate out of session for the July 4th holiday, This Week in Washington will be on vacation next week, but will return the following week.

Senate passes comprehensive immigration reform

On Thursday, the United States Senate passed the “Gang of Eight” compromise comprehensive immigration reform bill by a vote of 68 to 32. Fourteen Republicans joined 54 Democrats in passing the legislation.

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Box-Office Hits to Best-Sellers: Scholastic Inc. Shares Marketing Strategies Around Film Adaptations

Gatsby.  His name has been forever immortalized through the words of       F. Scott Fitzgerald.  For most of us, it conjures up memories from high school English classes, but now it’s being broadcast all over in ads and trailers for surrounding the film adaptation.  The Great Gatsby’s big movie turn got us thinking about how marketing strategies around blockbuster film adaptations impact book sales and play into the publishing industry.  Some of the biggest flicks to hit silver screens in the past few years have been adaptations from books – Harry Potter, Twilight, The Hunger Games, Silver Linings Playbook. And of course, this practice is nothing new. Even Gone with the Wind is an adaptation of a book. So how do movie adaptations tie into marketing strategies to sell books?

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Securitizing Litigation Claims for Fun and Profit

Call me old fashioned, but I am uncomfortable with the growing industry involving third-party financing of commercial claims in litigation. In the not-too-distant future, it may well be that commercial litigations will be “bundled” and traded as securities on financial exchanges, not unlike the exchanges that trade in soybean or coffee futures.

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TGS Capital markets practice leadership continues as AviaAM Leasing completes IPO in Poland

TARK GRUNTE SUTKIENE added a new deal to its reputable Capital markets portfolio as the firm advised the lead manager ING Securities S.A. and advisor Rubicon Partners Corporate Finance S.A. in the initial public offering (IPO) of AviaAM Leasing. The company completed the offering to Polish investors in June 2013 and its shares should be admitted to trading on the Warsaw Stock Exchange on 28 June 2013.

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Same-sex marriage Bill published

A Bill to allow same-sex couples to marry in Scotland has been published by the Scottish Government.

The Marriage and Civil Partnership (Scotland) Bill offers protections for religious bodies and individual celebrants, and also makes it clear that freedom of speech is unaffected.

Under the plans, religious bodies who wish to perform same-sex marriage will have to opt in. If a body does decide to perform same-sex marriages, protection will also be in place for individual celebrants who consider such ceremonies to be contrary to their faith.

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Stolen Laptop Leads to Stanford’s Fifth HIPAA Breach

Earlier this month Stanford reported its 5th HIPAA breach since 2009.  This is Stanford’s third largest breach, affecting nearly 13,000 patients.   A broken laptop containing protected health information of pediatric patients was stolen from a restricted area of the Lucile Packard Children’s Hospital at Stanford.  The laptop was un-encrypted and contained patient information including: name, […]

For more information please visit or click on the headline above.

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Multistate Tax Update — June 27, 2013

Recently, an Illinois Appellate Court held that an individual was not a resident for state income tax purposes, despite the fact that the individual did not abandon his Illinois domicile (Grede v. Hammer, 2013 Ill. App. (2d) 120731-U).

Illinois Income Tax Law

The Illinois Income Tax Act (Act) only imposes state income tax on an individual if he or she earns income in Illinois or is a “resident” of Illinois. Under this Act, a “resident” is an individual who is present in the state “other than for a temporary or transitory purpose” or who is domiciled in Illinois but is absent from the state for “a temporary or transitory purpose.” The focus of this case was whether Mr. Grede was still domiciled in Illinois but absent from the state for other than a temporary or transitory purpose, making him a non-resident for Illinois state income tax purposes.

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Settlement Privilege – Supreme Court Clarifies use of Pierringer Agreements

The Supreme Court of Canada recently clarified the law with respect to the extent of disclosure that must be made in settling multi-party litigation.

In the case of Sable Offshore Energy Inc. v. Ameron International Corp. (2013 S.C.C. 37), the court unanimously held that the settling defendants in a “Pierringer Agreement” did not need to disclose the amounts that they had settled for the non-settling defendants.

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Down with DOMA

Almost nine years after same sex marriage rights were fully sanctioned by the Supreme Court of Canada, in the decision of United States v. Windsor, with a 5-4 majority decision, the United States Supreme Court has determined that the Defense of Marriage Act (“DOMA”) is unconstitutional as a deprivation of the equal liberty of persons protected by the Fifth Amendment. This is a huge victory for the protection of the federal rights of same sex couples who are living in a State which recognizes same sex marriage.

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