On July 9, 2021, President Biden issued an Executive Order on Promoting Competition in the American Economy (the “Order”). Among other things, the Order explains that almost 50 percent of private sector businesses use non-competes for their employees and encourages the Federal Trade Commission (“FTC”) to “curtail the unfair use of...
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As we approach fall, many businesses are implementing policies and procedures for reopening offices. The Equal Employment Opportunity Commission (“EEOC”), the Occupational Safety and Health Administration (“OSHA”), and the Centers for Disease Control and Prevention (“CDC”) have all issued guidance and recommendations for businesses. Outlined below is an overview of...
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M&A Deal Activity is Accelerating M&A activity for private companies in the lower middle market ($5 million – $100 million in deal size) is accelerating and will likely continue to be strong for the next six to twelve months, if not longer. Even amongst all the chaos and uncertainty of...
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On August 26, 2020, the Securities and Exchange Commission (the “SEC”) amended the definition of “accredited investor” as defined under Rule 501 of Regulation D of the Securities Act of 1933, as amended (the “Securities Act”). This new definition provides for additional categories of investors who are deemed to have...
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The CARES Act passed on March 27, 2020 provided forgivable Paycheck Protection Program (PPP) loans to small businesses to assist with the uncertain economic conditions resulting from the COVID-19 pandemic. As most PPP borrowers have not yet submitted the application for PPP loan forgiveness, buyers and sellers in M&A transactions...
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Guidance on Payroll Tax Deferral On August 28, 2020, the IRS issued IRS Notice 2020-65, which provides guidance for implementing the Presidential Memorandum dated August 8, 2020, whereby the President directed the Secretary of the Treasury to defer withholding and payment of the employee portion of certain payroll tax obligations....
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On Wednesday, June 3, 2020, the Senate unanimously passed the Paycheck Protection Program Flexibility Act (“PPP Flexibility Act”) which also passed the House last week with a 417-1 vote. The President signed it on June 5, 2020. The two pages of legislation contain significant and favorable changes to the Paycheck...
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If you received a loan under the Paycheck Protection Program, you are probably starting to wonder how to apply for forgiveness of that loan. On May 15, 2020, the SBA released the Paycheck Protection Program Loan Forgiveness Application (“SBA Forgiveness Application”), which provides a fillable application to calculate the amount...
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On March 27, 2020, the CARES Act was signed by the President. The CARES Act is an extensive stimulus bill, which includes assistance for large and small businesses, as well as individuals. In this alert, we are focusing on the benefits it provides to small businesses generally with less than...
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The Families First Coronavirus Response Act (FFCRA) was signed by the President on March 18, 2020 and goes into effect on April 1, 2020. We have put together the following information to help answer some of your questions. What is the purpose of the Families First Coronavirus Response Act (FFCRA)? It...
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