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Law Firms: Economic Nexus May Be Heading Your Way
Perhaps your partners and associates never set foot in an economic nexus state, a state in which your firm is deriving income, so economic nexus may seem like a minor tax concern. But now it's time to check the horizon ' economic nexus statutes are sweeping across the nation. Connecticut, New Jersey, and Massachusetts already have established them, along with more than 30 other states. These statutes throw physical presence in a state as the basis for economic nexus right out the window. Instead, they generally look at whether you're getting income from the state or have a substantial economic presence there by “directing business activities” toward the state. And the law remains nebulous about what exactly directing business activities means. The consequence for law firms is that your firm may be required to file a tax return in a state which no firm member or employee has even been in.
A Chicken Story That's No Joke
Hope for getting clarity at the federal level was recently dashed. On Oct. 3, 2011, the U.S. Supreme Court denied certiorari for KFC Corporation v. Iowa Department of Revenue (KFC Corp. v. Iowa Dept. of Revenue, 792 N.W.2d 308 (2010)) ' allowing the Iowa Department of Revenue's tax assessment against KFC to stand. In KFC, the Iowa Supreme Court held that even though KFC has no tangible physical presence within the state, it did receive revenue from the use of intangible property within the state via franchisees using the KFC name. Accordingly, the court held that KFC was subject to the state's corporate income tax.
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Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.