IP News
January 01, 2004
Highlights of the latest intellectual property news and cases from around the country.
Divorce in Sister States
January 01, 2004
We have in recent months discussed advising clients on choosing which state in which to file their divorce actions when they maintain sufficient ties to states other than New York such that those states may exercise jurisdiction. Some of the consequences of making these choices may not be immediately obvious, however, as illustrated by the recent decision rendered by the Court of Appeals in <i>Connelly v. Corcoran</i>, N.Y.L.J. 11/21/03, DOI p. 18, col. 4 (Ciparick, J.).
The Psychology of Money in Marriage
January 01, 2004
Money is not seen by these people as the commodity it should be. Instead, it is fraught with feelings, messages and beliefs from family, society and personal experience. If money were seen as a commodity, your job would be much clearer.
Divorcing Parents Go to School
January 01, 2004
In an attempt to bring New York State up to speed with practices in many other states, Judge Judith Kaye recently promulgated a plan for judges to more frequently order parents to complete psycho-educational training related to post-separation parenting. The order essentially establishes guidelines for judges as they make such orders and sets out criteria that must be met by the programs themselves if they are to receive approval for accepting court-ordered families.
Repayments of Loans Made by Lessors Are Now Taxable Under Ohio Sales/Use Tax
January 01, 2004
In a recent administrative decision by the Ohio Department of Taxation, the commissioner held that the repayment of a loan of money should be added to the lease price of tangible personal property subject to the Ohio Sales/Use Tax. The case before the commissioner involved a loan that was made to a lessee to pay off its contract obligations to another lessor, so that the lessee could enter into a lease of new equipment with the new lessor. Both the loan and the lease were separately delineated in the Lease Agreement between the partners. The commissioner concluded that the repayment of the loan was an "expense associated with the leased equipment." As a result, the commissioner held that under Ohio R.C. 5739.01(H)(1), the separately stated refinance charge to pay the interest and principle on the loan could be included as part of the leased price paid for leased equipment making both amounts taxable under the Ohio Sales/Use Tax.
Leaseback Deals Under Attack
January 01, 2004
As if the leasing industry needed another obstacle, a major one is now looming on the horizon, courtesy of Senate Finance Committee Chairman Charles Grassley (R-Iowa).
Update: Industry Awaits Regulations Under USA Patriot Act
January 01, 2004
This is an update to the article titled, <i>Industry Awaits Regulations Under USA Patriot Act,</i> published in the May 2003 edition of the <i>LJN Equipment Leasing Newsletter</i> (Volume 22, Number 4). As of this writing, the Treasury Department has yet to issue regulations relevant to the "loan and finance company" category of "financial institution."
A Guide to the Proposed Amendments to Article 2A
January 01, 2004
The American Law Institute (ALI) and the National Conference of Commissioners on Uniform State Laws (NCCUSL), the two organizations jointly responsible for drafting and updating the Uniform Commercial Code, recently approved proposed amendments to Article 2 — Sales, and Article 2A — Leases. The ALI approved the proposed amendments in May 2003 and NCCUSL in August 2002. These amendments are the culmination of a project that began more than 10 years ago.
In The Marketplace
January 01, 2004
Highlights of the latest equipment leasing news from around the country.
