In determining how to structure the purchase of an S corporation, the purchasing corporation will prefer to purchase the assets of the S corporation to obtain a new cost basis in the purchased assets. A stock purchase results in a cost basis in the purchased stock but...
The new Wisconsin Trust Code creates default rules that apply to trusts unless they are overridden by the terms of the trust agreement. This article discusses a default rule that is likely to be overridden often – the rule requiring a trustee to keep the qualified...
The United States Supreme Court issued a flurry of decisions in the last two weeks of its term. The three cases summarized below relate to some of the most hot-button issues the Court addressed this year. These decisions may prove particularly impactful for the...
On June 6, 2014, Judge Barbara Crabb of the United States District Court for the Western District of Wisconsin declared Wisconsin's gay-marriage ban unconstitutional. The plaintiffs in the case are eight same-sex couples who want to marry in Wisconsin or who have a...
Many non-union employers mistakenly believe that the National Labor Relations Act (NLRA) merely covers issues involving active union organization or bargaining. However, a number of recent decisions by the National Labor Relations Board (NLRB) and Administrative Law...
There is one thing to add to the standard list of considerations when forming a new entity and choosing between either an LLC that is taxed under partnership rules or an S Corporation. It has to do with the tax impact on the owners if the venture fails and the value...
Most business owners are aware of their obligation to collect and remit sales tax for products and services sold. Sales tax also plays a role in the liquidation or sale of your business. The failure to take certain simple steps could result in an unexpected sales...
Your business is presented with many contracts. These contracts include leases, purchase orders, service contracts, loan documents, license agreements and rental agreements. At the time that the contract is presented, the primary focus is typically on (1) the product...
If you become incapacitated, who will make financial and health care decisions for you? If you have a durable financial power of attorney and a health care power of attorney, the persons named in those documents can make these decisions for you. If you don't have...
For the first time in over 40 years, Wisconsin has made major revisions to the statutes governing trusts. The new law (the Wisconsin Trust Code) goes into effect on July 1, 2014. The law was the product of over seven years of work by committee members representing the...
