Pruvent PLLC

New Article: Obtaining a FinCEN Identifier (ID)

https://pruvent.com/2024/01/23/obtaining-a-fincen-identifier-id/

Basic Overview of the Corporate Transparency Act (CTA) > https://bit.ly/41CODSZ

This article seeks to provide a basic overview of the CTA reporting requirements, how to file reports and amendments, how attorneys and other professionals can assist clients with CTA reporting, and what attorneys need to be mindful of when assisting clients with CTA reporting requirements.

Basic Overview of the Corporate Transparency Act (CTA) As a follow up to our 2022 article “An Introduction to the Corporate Transparency Act,” this article seeks to take a deeper dive into the Corporate Transparency Act (CTA) and its reporting requirements which go into effect January 1, 2024. In an effort to prevent illegal activities, the CTA was ...

Mergers and Acquisitions: Unique Matters to Consider When Dealing in Aviation

As a buyer, understanding the industry of a target company is key to completing a thorough due diligence process. Knowing the ins and outs of an industry can help identify specific or unique due diligence matters which can raise concerns or other red flags that wouldn’t otherwise arise in another context.

https://bit.ly/3QLhpM7

Overview of the Delaware Franchise Tax (Corporations, Limited Liability Companies, Limited Partnerships, and General Partnerships) and Calculating Methods for Corporations

Read article here: https://bit.ly/3QHQylU

Entity Conversions: Three Methods to Change the Entity Form of a Business. Read Article Here: https://bit.ly/3DJiQoh

The 50 state survey provided in this article seeks to summarize the states that provide the most common sales tax exemptions sought after by parties involved in the acquisition of all or substantially all of a business’ assets: an occasional sale exemption and a sale for resale exemption.

Read Article Here: https://bit.ly/3KcnQFB

50 State Survey - Occasional Sales and Resale Exemptions to State Sales Tax The majority of states have implemented a sales tax (or its equivalent) on the sale of goods and services within their state. States have also exempted or provided reduced rates for various sale types and entities operating within the state. The 50 state survey provided in this article seeks to summ...

Shareholders’ Agreements: Basic Considerations for Majority and Minority Shareholders in Closely Held Corporations https://bit.ly/shareholder-agreements

Shareholders’ Agreements: Basic Considerations for Majority and Minority Shareholders in Closely Held Corporations A shareholders' agreement, also called a stockholders' agreement, can be beneficial to both majority and minority shareholders of a corporation. A shareholders’ agreement is an agreement among the shareholders of a corporation that contains governing provisions related to how a corporation should ...

Past technological changes, such as radio, recording, software, and file sharing have been challenging for courts and lawyers. More recent developments, such as NFTs and AI generated art will likely bring new challenges. Read full article: https://pruvent.com/2022/10/02/changing-legal-landscapes-for-digital-art/

In an attempt to combat money laundering and other illegal/illicit activities (via shell corporations, limited liability companies and other entities), Congress enacted the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. Read the full article here: https://pruvent.com/2022/09/14/an-introduction-to-the-corporate-transparency-act/

Watch Out for Trademark Scams > If you received something in the mail asking you to pay for a trademark or brand related service, stop, and read this before doing anything. https://bit.ly/3wOEfYV

Frustration of Purpose and Impossibility Defenses Failed in Recent COVID Related Commercial Eviction > https://bit.ly/3m50Dtu

New Article: New Minnesota Tax Laws Allows LLCs To Elect To Deduct At Entity Level

As of July 1, 2021, Minnesota owners of a pass-through entity may elect to be taxed at the entity level, which could reduce their federal tax liability. Minnesota limited liability companies (LLCs), partnerships, and S corporations have typically been treated as pass-through entities, so that the individual owners are taxed on the profits, not the entity itself.

Learn More: https://bit.ly/NewMNTaxLaws

Since 2020, more stringent rules have been in effect relating to transactions involving foreign nationals. These new rules cover a much wider range of transactions, which may not initially seem like foreign investment. Learn more: https://bit.ly/3Ac05WY

Foreign Investment. What Is It and What Rules Apply? – Due Diligence for Sellers In M&A Transactions Since 2020, more stringent rules have been in effect relating to transactions involving foreign nationals, which may need to be reported to the Committee on Foreign Investment in the United States (“CFIUS”) in M&A transactions.[i] These new rules cover a much wider range of transactions, which m...

The traditional idea of a trademark is a name or design appearing on a label, stuck to a physical product. Learn more about trademarks for software and digital products https://bit.ly/3zRQzYC

Google v. Oracle – The Supreme Court Holds That Reimplementing Software API Is Fair Use

http://bit.ly/GoogleVsOracleSupremeCourt