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Recap of the Data Protection Seminar
On July 17, McBrayer and Business Lexington presented a panel discussion on new Kentucky legislation, specifically House Bill 5 and House Bill 232, which affects business owners, non-profit organizations, and entities with government contracts who handle personal information. The panel included Trigg Mitchell, a senior associate from McBrayer's Corporate & Business Law Department, and Chris Nolan, a lobbyist and communication specialist from MML&K Government Solutions, among others. The panelists discussed how the laws came about, the definitions and details included therein, and provided real-world advice about how to institute security and breach notification policies and procedures. More >
Choice of entity is important for budding businesses
Choosing a business form with which to organize a growing business is not always an easier matter, especially for those with little experience in business. Selecting a business entity form is important, though, as it can help position a business to increase growth by offering certain protections, particularly in the areas of liability and taxes, as well as trademarks and licenses. More >
Home-Based Business Owners Require Licenses & Permits, Too
Apple, the billion dollar tech company, came from humble beginnings as a start-up in a California garage in 1977. Home-based business can be a satisfying and flexible option for individuals and, sometimes, it can be the start of something big. In the case of Apple, very big. It is crucial to remember, however, that if you are operating a business from your home, the business is still subject to license and permit laws. Understanding the required licenses and permits that you need upfront will save you from headache (and potentially fines and fees) down the road. There is not a one-size-fits-all checklist for home-based businesses because the requirements vary depending on the nature of the business (i.e., the industry involved) and its location. More >
Supreme Court decision highlights definition of closely held corporation
Many of our readers have already heard about the recent U.S. Supreme Court decision granting for-profit, closely held corporations the right to opt out of the federal contraceptive mandate. Because the scope of the decision was limited to such companies, it isn’t as far reaching as some had hoped for, although some commentators have pointed out that the language of the decision doesn’t make it entirely clear which businesses are affected. More >
Data Protection Lunch Seminar - REGISTER TODAY!
Have you registered for the Data Protection and Cyber Security Lunch Seminar? More >
Does Your Business Use Surcharges?
On January 27, 2013, it became legal for retailers to impose a surcharge on consumers using a credit card at their business. The surcharge was a key provision in a settlement stemming from a class action suit brought by several retailers against credit card companies. The permissible surcharge amount depends on how much is paid by the merchant in processing fees, but can range from 1.5 to 4% of the purchase price. More >
Utility company acquires assets to expand customer base
American Water Works, a company that has operations in a large number of states, has now made a deal to acquire the water and wastewater assets of Millersburg, Kentucky. Up to this point American Water has only had a small presence in our state. More >
The Tax Risks of Misclassifying Employees
Over the last few years, worker classification initiatives have been a top priority for the Internal Revenue Service (IRS), Department of Labor (DOL), and state agencies. In 2011, the IRS and DOL signed a memorandum of understanding in an effort to jointly increase worker misclassification audits. Pursuant to the memorandum, the DOL now refers wage and hour investigations involving IRS employment tax compliance issues to the IRS. More >
Small businesses in Kentucky require additional guidance
There is often a great deal of fluctuation when it comes to the flourishing of small businesses. Though Kentucky has been pushing for small businesses in our state, announcements for new businesses has been lower in 2014 than it was at the same time in 2013. More >
Before Taking The Wheel, Take A Hard Look
When it comes owning a business, some people like starting from scratch. Others prefer to have a foundation already established when they take the reins. There are pros and cons to both, but one should never think that by purchasing an existing business that they are minimizing their legal or financial risks. Just like starting your own, the first step to buying a business is determining what the best industry is for you, where you would like to be located, etc. - the generalities that only you can determine. The second phase, known as the "due diligence" phase, is a more fact-intensive process and may require more than one set of eyes. It is during this time when you review and verify information about the subject business. An attorney and accountant can offer invaluable assistance in this process. There are numerous things to consider, not all of which can be discussed at length herein, but this list should serve as a starting point for some of the most important considerations. More >
