As more and more businesses shut down or scale back due to the Coronavirus pandemic, Federal, State and local governments are quickly realizing that these businesses and their employees are facing devastating financial consequences.
Many employers outsource some or all of their payroll and related tax duties to third party payroll service providers. These related tax duties may include withholding, reporting, and paying over certain employment (i.e. FICA, Medicare, SDI) and income taxes to the Internal Revenue Service (IRS) and California Employment Development Department (EDD).
For a variety of reason, a business may desire to change its form of entity (e.g. convert from a limited liability company to a corporation) or change its state of organization (e.g. converting from a California corporation to a Nevada corporation) or merge with another entity. In the past, if a nonprofit organization wanted to enact changes similar to these, it often was required to submit a new application for tax exemption with the IRS, which can be burdensome.
Other AALRR Blogs
- Los Angeles County Obtains Approval to Move Further into Stage 2; Restaurants May Resume In-Person Dining and Hair Salons and Barbershops May Reopen
- Better Luck Next Time—Supreme Court Unanimously Rejects Defense Preclusion in Lucky Brand Trademark Row
- Leading Ride Share Servicers Sued by the State of California for Continued Misclassification of Drivers as Independent Contractors
- Orange County Becomes Latest to Secure Variance and Approval from State to Accelerate Reopening Local Businesses Deeper Into Stage Two, Allowing Dine-In Restaurants and In-Store Retail to Reopen; County Officials Issue New Order and Strong Recommendations
- Supreme Court Unanimously Rules Willfulness is Not a Precondition for an Award of Infringer’s Profits in Trademark Cases
- U.S. Supreme Court Rules States Cannot Be Sued for Copyright Infringement
- Disaster Loan Assistance for Small Businesses
- Tax Relief - Federal and State Governments Extend a Helping Hand
- Does The COVID-19 Coronavirus Trigger The Force Majeure Clause in Your Commercial Contracts or Otherwise Excuse Performance By Either Party?
- An Ounce of Prevention: Some Easy Solutions To Avoid Personal Liability for Company Obligations
- Christopher S. Andre
- Cindy Strom Arellano
- Dan J. Bulfer
- Eduardo A. Carvajal
- Michele L. Collender
- Scott K. Dauscher
- Evan J. Gautier
- Carol A. Gefis
- Amber S. Healy
- Edward C. Ho
- John E. James
- Jonathan Judge
- David Kang
- Joseph K. Lee
- Lana Milojevic, CIPP/US
- Shawn M. Ogle
- Jon M. Setoguchi
- Brian M. Wheeler
- Lisa C. Zaradich