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  • Is That Payment Taxable? 5 Key Tax Facts All Employers Should Know

    By Procopio Partner Eric D. Swenson There is no end to the creativity employers bring to the task of providing benefits and rewards to current and former employees, and that creative thinking is often applied with the intent of reducing or avoiding tax liability to the employee.  Whether it is a carefully crafted severance agreement (great idea!!), a convoluted deferred compensation plan, or a purported gift program, new tricks are tried every day.  After twenty years in private...

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  • Mandatory Deemed Repatriation: Do You Owe Taxes for 2017 re: International Operations?

    How to Timely File an Election for Payment of Tax in Installments By Procopio Partners Pedro Corona de la Fuente, Patrick W. Martin and Jon P. Schimmer and Foreign Exchange Lawyer Anuar Estefan If you are a U.S. person* who owns stock of a foreign corporation, we encourage you to continue reading this alert. Here we explain how your income tax liability for 2017 may be severely affected by a new provision introduced by the Tax Cuts and Jobs Act (the “TCJA”).** On December 2...

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  • How Will Federal Solar Panel Tariffs Impact California's Energy Policy?

    By Procopio Attorney and Energy Industry Practice Group Member Luisa F. Elkins President Donald J. Trump’s decision to implement tariffs on imported solar panel components in early 2018 is expected to have a reverberating impact on the renewable energy industry in California, impacting both businesses and regulators. Among the many ramifications from the decision will be the need for the California Public Utilities Commission (CPUC) to revisit some of its policy decisions aimed at achie...

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  • Post U.S. Tax Reform, What Corporate Structure is Right for You?

    By Procopio Of Counsel David C. Boatwright, Partner Pedro E. Corona de la Fuente, Partner Eric D. Swenson, and Associate L. Reza Wrathall Given a range of changes made to the Internal Revenue Code by the Tax Cuts and Jobs Act of 2017—which we’ll call the “Tax Act” for short—many privately held businesses are reconsidering their current corporate structure. The new law enacted a number of substantial changes, leading CEOs and in-house counsel to wonder whether it is more advantag...

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  • Nueva Obligación de Presentar la Forma 5472 para LLCs que Tengan un Sólo Socio Extranjero

    Por. Pedro E. Corona & Luis A. Zendejas El 13 de diciembre de 2016, fueron emitidos nuevos reglamentos para las Secciones 6038A y 7701 del IRC.  Estos nuevos reglamentos son aplicables a partir del ejercicio 2017,  y dan el tratamiento de corporación de los EUA aquellas LLCs que tienen un sólo socio que no es residente fiscal de los EUA, por lo que dichas LLCs deben presentar la Forma 5472. 1. ¿En qué consiste la nueva obligación para LLCs? Una LLC que sea ignorada ...

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  • Overtime is Now More Expensive for Some California Employers

    By Procopio Partner and Labor and Employment Practice Group Leader Marie Burke Kenny The California Supreme Court has issued a ruling that changes the way overtime is calculated for employees who earn certain flat sum bonuses. Under California law, employers must pay overtime to non-exempt employees at a rate of no less than one and one half times the employee’s “regular rate of pay” for all hours worked in excess of 40 per workweek and in excess of 8 hours but fewer than 12 hours p...

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  • You Have Been Warned: Changes Coming to Proposition 65 Requirements

    By Procopio Associate Hazel Ocampo G. New Proposition 65 warning requirements will come into effect August 30, 2018, requiring that entities doing business in California provide additional details in product warnings. The new regulations require additional content and specify the method of warnings for certain environmental exposures, industries, and products, e.g. food/alcohol. The new regulation also requires that warnings be provided prior to persons completing the purchase of items vi...

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  • 5 Steps to Recognizing and Stopping Workplace Bullying

    By Procopio Partner and Labor & Employment Practice Group Leader Marie Burke Kenny As employers across the economic landscape seek to operate at peak efficiency, they are increasingly held accountable to meet demanding performance goals. As a result, employees at every level are experiencing increased tension and uncertainty. That can naturally lead to workplace tension and sometimes even bullying. No matter the circumstances, bullying should never be tolerated.  In today’s wor...

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  • 5 Steps to Keeping Your Trade Secrets Secret

    By Procopio Partner Mindy M. Morton A high-stakes trial that began this week between ride-sharing market leader Uber and self-driving car designer Waymo is front-page news. We frequently see patent and copyright cases in the headlines, but this is a trade secret case, which infrequently achieve such a high profile. What many people don’t realize, however, is that trade secrets are vital to the U.S. economy. According to the Office of the National Counterintelligence Executive, companies...

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  • Recreational Marijuana Use is Now Legal in California: How Does That Impact Employers?

    By Procopio Associate Annie Macaleer It’s now legal under California law to engage in recreational marijuana use, and it’s safe to assume that some of your employees are taking advantage of the newly enacted law. How does that impact your ability to monitor existing employees and screen potential applicants? Not as much as you might think. It does, however, present a big challenge for many employers to ensure employees and applicants understand that, while certain aspects of state law...

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