Our Blog: Business Services

Pennsylvania Limited Liability Company Operating Agreements Must Be Signed (or at least agreed to) by All Members -or- Why LLC Minority Interest Holders Might Rather be in Pennsylvania

April 19, 2017

It seems obvious, doesn’t it? A limited liability company operating agreement governs the relationships among a limited liability company (“LLC”), its owners (called “Members”), and the people running the LLC (who may be Members or... Read more

The Pennsylvania Medical Marijuana Act’s Impact on Municipal Zoning

April 6, 2017
By Matthew Korenoski
Posted in Business Services, Public and Non-Profit

With the passage of the Medical Marijuana Act (the “Act”) on April 17, 2016, municipalities throughout the Commonwealth have had their fair share of concerns about how this law will affect them. Given the stigma attached to marijuana in general,... Read more

Correcting “Small” Errors in Form 1099 and Form W-2 in 2017

March 22, 2017
By S. John Kelly
Posted in Business Services

Effective for forms filed in 2017, Congress provided that businesses (“payors”) do not have to correct “small” errors on Form 1099s and Form W-2 that they issue.  Errors are “small” if the error is $100 or less in dollar amount or $25... Read more

IRS Tax Notices – Do you have to fight a tax assessment for “$.00”?

March 13, 2017
By S. John Kelly
Posted in Business Services

Some days, computers make all of our lives more difficult. Some days, the IRS is right when it claims that “$.00” does not mean zero dollars.  Some days, you have to fight  nonsensical tax assessments. In a recent case, the IRS sent a... Read more

PA Proposed Tax Increases – Governor Wolf’s Budget Proposal for 2017

March 6, 2017
By S. John Kelly
Posted in Business Services

To balance his budget, Governor Wolf has proposed the following tax law changes: Collect a 6 percent severance tax on natural gas extraction from all formations. Effective date – July 1, 2017.  A credit would be allowed for... Read more

Pennsylvania 2017 Tax Amnesty – Discount Tax Relief

January 30, 2017
By S. John Kelly
Posted in Business Services

During the 60-day period from April 21 to June 19, 2017, the Pennsylvania’s Department of Revenue (“PA DOR”), will offer Tax Amnesty for pre-2016 taxes.  Taxpayers owing PA state taxes (such as PA employer payroll tax, corporate income tax,... Read more

New Department of Health Regulations Begin to Provide Guidance on Obtaining and Maintaining a Medical Marijuana Grower/ Processor Permit or Dispensary Permit in Pennsylvania; 28 Pa. Code §§1141.21 et seq.

November 3, 2016

by David L. Pollack, Of Counsel[1]  NOTHING IN THIS DOCUMENT IS INTENDED OR SHALL BE CONSTRUED AS ADVICE TO PARTICIPATE IN, OR COUNSEL WITH RESPECT TO, CRIMINAL OR FRAUDULENT... Read more

Section 280E of the Internal Revenue Code: Planning for Taxation of Medical Marijuana Businesses

October 19, 2016

NOTHING IN THIS DOCUMENT IS INTENDED OR SHALL BE CONSTRUED AS ADVICE TO PARTICIPATE IN, OR COUNSEL WITH RESPECT TO, CRIMINAL OR FRAUDULENT ACTIVITIES.  POSSESSION, DISTRIBUTION AND SALE OF MARIJUANA IS A SERIOUS CRIME UNDER FEDERAL LAW (AS IS TAX... Read more

Do you have a Family Limited Partnership or Family LLC? New IRS Regulations May Matter to You!

October 18, 2016

Back in the 1980s, if a business owner wanted to transfer her business to her children at a reduced tax cost, she might start with a C corporation and recapitalize it. She would keep a class of preferred stock that entitled her to receive most of... Read more

What Should I Buy (or Sell)?

October 13, 2016

Asset v. Stock Transactions So - you want to buy a business that you have been looking at for some time - or - you have decided to sell your business - what structure is right for the... Read more