The federal Tax Cut and Jobs Act caps an individual’s deduction for state income taxes and property taxes. The cap is $10,000. The change is effective for 2018. In December, Wisconsin enacted legislation to help owners of S corporations and partnerships get around the cap. The new law allows a pass- through entity to elect.
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In today’s global market, virtually all businesses import goods in one form or another, primarily from China. Whether it be the component parts incorporated into final products or the equipment used to create those products, the goods that companies are importing from China are cutting deeper into their pocketbooks at a significantly higher rate under.
Negotiating contracts can be downright messy. By the time you agree to major business terms, you may not want to argue the “small stuff.” Jurisdiction, for example: that’s just meaningless lawyer-talk, you think. Or venue: whatever that is, it can’t be important, you say. And choice of law: the law is the same everywhere, right?.
Lawsuits involve a bit of procedural jockeying – substitution, consent to a magistrate judge, removal, picking a mediator. In arbitration, everything is up for grabs. Parties choose the arbitrators, set discovery’s scope, decide the hearing rules, and even choose the form of decision. If the arbitration agreement is basic, parties can challenge the arbitration locale.
Imagine that you are the owner of a company that sells used manufacturing equipment. Over the years, you have sold a couple pieces of a certain type of equipment to a company, so when that type of used equipment came into your inventory, you called up the company and told them what you knew about.