Tag Archives: McDonald Hopkins

ILN Today Post

Ohio Supreme Court offers guidance on “agency exclusion” under Ohio commercial activity tax.

One controversial issue that commonly arises in Ohio commercial activity tax (CAT) audits is whether taxpayers qualify for the so-called “agency exclusion” for gross receipts received on behalf of others. The CAT is Ohio’s entity-level tax for the privilege of doing business in the state, as measured by the taxpayer’s “taxable gross receipts” in Ohio. Some other states impose a net income tax at the entity-level, which removes expenses from the base of the tax, or have no entity-level business tax at all.

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Federal breach notification law now in effect in Canada

The breach notification provisions of Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA) went into effect Nov. 1, 2018. PIPEDA places requirements and restrictions on an entity’s collection and use of “personal information,” defined as information about an identifiable individual, in the course of a commercial activity. All organizations that collect and use personal information belonging to Canadians must comply with PIPEDA’s requirements. This includes consumer/customer data, as well as employee data. The law has been in force since 2001 and was amended in 2015 to include breach notification requirements, though the 2015 breach notification amendments made as a result of the Digital Privacy Act were not immediately effective. Those amendments are now effective.

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The IRS announced new retirement plan limitations for 2019 today.

On Nov. 1, 2018, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2019 tax year. Changes to the limits are based upon the Social Security cost-of-living increases. Unlike in some recent tax years, most of the applicable pension and retirement limitations will increase for the 2019 tax year.

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McDonald Hopkins is proud to welcome Marc J. Carmel to their Chicago office!

CHICAGO – Marc J. Carmel has joined the Chicago office of McDonald Hopkins LLC as a member in the Business Restructuring Services Department. Before joining McDonald Hopkins, Carmel practiced at Kirkland & Ellis and Paul Hastings. Most recently, he was a director at Longford Capital Management, where he led the litigation finance firm’s investments in the bankruptcy and restructuring sector.

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Illinois has proposed a new independent practice license for APRNs

On Oct. 12, 2018, the Illinois Department of Financial and Professional Regulation (IDFPR) proposed regulations that would allow advanced practice registered nurses (APRNs) who satisfy training and education requirements to practice independently of physicians.

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HIPAA wake-up call

Physician practices, like other HIPAA-covered entities, face a daunting array of threats to their patient protected health information (PHI) and must be diligent when protecting the privacy and security of their records.

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The boom in natural gas liquids described in a recent report by the U.S. Department of Energy means good news for states in Appalachia and the Northeast.

The boom in natural gas liquids described in a recent report by the U.S. Department of Energy means good news for states in Appalachia and the Northeast where natural gas production is expected to continue to expand by 200 percent over a 10-year period through 2023.

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Wayfair update: States begin imposing economic nexus rules as Congress mulls federal legislation

Effective Oct. 1, 2018, economic nexus rules take effect for remote sellers in 11 states, including Alabama, Illinois, Indiana, Kentucky, Michigan, Minnesota, New Jersey, North Dakota, Washington, and Wisconsin. That means that remote sellers must begin collecting sales tax in these states if they meet the state’s economic nexus threshold, whether they have a physical presence in the state or not.

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Tesla embroiled in SEC dispute over Elon Musk’s recent tweets

Despite provisionally agreeing to settle an ongoing dispute with the Securities and Exchange Commission (SEC) centering on a tweet speculating that Tesla may be taken private, Elon Musk has continued to jeopardize settlement discussions by taunting the SEC on Twitter. Given that the terms of any settlement are subject to judicial review, Musk’s Twitter usage has risked exposing Tesla and Musk, personally, to additional monetary liability and further mandates to change Tesla’s corporate structure to limit Musk’s control over the company.

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Preserving causes of action in Sixth Circuit: In re Mountain Glacier

One important aspect of a chapter 11 case, whether the plan for the case is to reorganize and emerge from bankruptcy or to liquidate, is the preservation of pre-petition claims for prosecution after the plan is confirmed. If a claim is not properly preserved and transferred in the chapter 11 plan, the debtor risks losing the claim post-confirmation. The defendant may defend any such claim by asserting the claim is barred pursuant to res judicata or the debtor lacks standing to pursue the claim.

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