Drone law is a hot topic across the country and there have been new developments in U.S. drone law on a federal and state level. My colleague Caroline Gentry explains in this Technology Law Source blog.
Emergency orders: COVID-19 and distressed commercial leases
Distressed commercial tenants and their landlords may find themselves in tense situations during the COVID-19 pandemic. As those parties consider how to handle their lease obligations, they should consider, among other things, the varying contours of recent executive and emergency orders. As shown below, orders from various jurisdictions have taken different approaches to addressing the pandemic’s impact on commercial tenants.
Important update on the Payroll Protection Program
Since the passage of the Coronavirus Aid, Relief and Economic Security CARES Act, the Small Business Administration (SBA) and the U.S. Treasury Department have released a series of interim final rules and updated Frequently Asked Questions (FAQs) (as of April 8, 2020) regarding Paycheck Protection Program (PPP). These updates provide critical guidance and information to borrowers and lenders alike in the implementation of the highly sought after program. My colleague Cassandra Rice describes some of the key clarifications to the program in this Employee Benefits Law Report blog.
UPDATE: SBA loan eligibility FAQs
Certain government programs, including SBA loan programs, are reserved for “small businesses.” In order to qualify for those programs, a business must satisfy both the SBA’s definition of a “small business concern” as well as the size standards for a small business. My colleague Jack Meadows offers answers to some frequently asked questions in this Employee Benefits blog post.
Workplace exposure to COVID-19: Can employers be liable?
As COVID-19 cases continue to mount nationwide, so have lawsuits relating to fallout from the virus. On April 6, 2020, in one of the first COVID-19-related lawsuits of its kind, the estate of an Illinois Walmart Supercenter employee sued Walmart and the premises owner for wrongful death in Toney Evans v. Walmart, Inc., et al. My colleague Brodie Butland details the lawsuit in this Employer Law Report blog.
The CARES Act: Changes to the U.S. Bankruptcy Code
On March 27, 2020, President Donald Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act into law. Among other things, the CARES Act made some important changes to the U.S. Bankruptcy Code.
Specifically, the CARES Act modified subchapter V of the bankruptcy code to make it more widely available to small businesses. The Small Business Reorganization Act (SBRA), which became effective on Feb. 19, 2020, created subchapter V. It was enacted to eliminate hindrances that might deter a small business from reorganizing under chapter 11.
Supreme Court of Ohio tolls civil deadlines during COVID-19 emergency period
In response to the COVID-19 pandemic, Ohio’s legislative, executive, and judicial branches are working together to clarify requirements for civil litigants and alleviate mounting pressure on Ohio’s courts. My colleague Sean Klammer explains in this Porter Wright Law Alert.
Financial relief for small businesses under the CARES Act & eligibility FAQs
The third phase of COVID-19 legislation was signed into law on Friday, March 27, 2020, and has been named the Coronavirus Aid, Relief and Economic Security Act (CARES Act). For small businesses, this legislation means that $349 billion in stimulus dollars is heading out to eligible small businesses, sole proprietors, ESOPs, non-profits, veterans organizations, and other tribal business concerns, to provide assistance maintaining payroll and employee benefits, along with overhead costs. My colleague Cassandra Rice detailed the options in this Law Alert.
Eligible businesses should carefully review the Small Business Administration’s (SBA) eligibility requirements for each program, which our colleague Jack Meadows laid out in this Law Alert.
Ohio extends income tax filing and payment deadline
The Ohio Department of Taxation announced on March 27, 2020 that Ohio will be following the federal government and IRS in extending the deadline to file and pay state income tax. Please refer to our prior post for more information on the federal deadline change.
The Ohio deadline for state income taxes is now July 15, 2020, rather than April 15. This extension is intended to help taxpayers deal with the economic impact of COVID-19 and the public safety measures that have been adopted.
IRS clarifies information about delayed federal tax filing and payment deadlines
On April 15, 2020 we posted an update to this blog, “UPDATE: Additional information released about delayed federal tax filing and payment deadlines.” Click here to read the update.
In response to the COVID-19 pandemic and the increased strain placed on individuals and business taxpayers during this time, the IRS has pushed back certain payment and filing deadlines to ease the burden on taxpayers. The Treasury Department and Internal Revenue Service (IRS) announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
