Business Organizations & Commercial Transactions
Legal Alert: New Audit Rules (Part 2)
Issue: May 29, 2018
New Audit Rules: Part 2 – The Partnership Representative
The Bipartisan Budget Act of 2015 (“BBA”) provides that partnerships and LLCs taxed as partnerships must appoint a Partnership Representative (“PR”). The PR need not be a partner or a member and will have substantially broader powers than the old Tax Matters Partner in connection with partnership audits.
The new audit rules provide that the PR has almost complete authority to act on behalf of the partnership or LLC (and therefore, effectively, the partners and members) when dealing with the IRS, without any requirement that the PR keep the partners, the members or the managers advised as to anything, even the very existence of the ongoing audit.
Legal Alert: New Audit Rules (Part 3)
Issue: May 29, 2018
New Audit Rules: Part 3 – Who Pays the Tax?
This is the third of our articles dealing with the new audit rules established for partnerships for tax years beginning after December 31, 2017. This article deals with whether, after an audit resulting in the need for additional payment to the IRS, to (a) apply the default rule of taxing the partnership during the year of the audit (the “audit year”) so that the then-current members bear the tax burden, or (b) elect to “push out” the tax to those who were partners during the year being audited (the “review year”).
G&B Attorneys Represent California Software Company in Recent Sale
Viewpoint, the established global leader in innovative construction-specific software solutions, recently announced the acquisition of Keystyle Data Solutions (Keystyle). G&B attorney Tim Forsman represented Keystyle in the transaction which closed in early April, 2018. Tim navigated a complex sale process from start to finish, providing support for intricate issues that arose over the course of the four-month negotiation. At the time of the sale, Viewpoint had already integrated Keystyle software portal into its existing platform to enable efficient management of internal company workflow, and the companies plan to integrate further with constructions ERP and field products.
“Improving productivity for Viewpoint customers was Keystyle’s goal from the start,” said Keystyle Co-Founder Kevin Fisher.
Legal Alert: Employment Law Updates
Author: Richard K. Mahrle
Issue: January 23, 2018
2018 EMPLOYMENT LAW UPDATES
With a new year come new changes. You may want to pull out your employee handbook or policy manual and consider revising it to meet the new requirements. We can help you with that. Please contact Rick Mahrle for assistance or with any questions on the employment law updates below.
Minimum Wage
Don’t forget that the minimum wage in Arizona is now $10.50 effective January 1, 2018 and will move to $11.00 an hour effective January 1, 2019.
G&B Represents KB Homes and Lennar Homes on Land Acquisition at Marbella Ranch in West Valley
Gammage & Burnham attorneys represented homebuilders KB Homes and Lennar Homes in acquiring land in the Marbella Ranch development in the West Valley. This development is located at the northwest corner of El Mirage Road and Glendale Avenue in Glendale.
For more information, please see
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