• Is Lyft really a Unicorn, or a Black Horse leading us to the Next Dot-Com Bubble Burst?

    April 5, 2019

    Lyft went public this week.  Why do company such as Lyft keep going public without having any profit to show for it?  The last time we saw this type of activity on Wall Street was during the dot-come bubble burst.  How is there such a high valuation for companies that are losing money? 

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  • House Financial Services Committee Passes SAFE Banking ACT

    April 4, 2019

    The SAFE Banking Act is proposed legislation to protect banks and their employees doing business with legal cannabis enterprises. The House Financial Services Committee approved an updated version of the SAFE Banking ACT.  With this approval, there could be good news on the horizon for banks and cannabis companies. 

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  • Cannabis in New York State – What’s Next?

    March 19, 2019

    The New York State Governor “isn’t sure” if marijuana legalization will be in this year’s budget.  What does this mean?  In my opinion it is essentially is a delay tactic.  It is also a great opportunity. 
    Governor Cuomo promised that in the first 100 days of his third term, adult use recreational cannabis would be legal.   It seems as though he isn’t sticking to his promise. 

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  • Cannabis & 280E – Just Because It’s Illegal Doesn’t Mean You Don’t Have to Report It

    February 28, 2019

    As states across the nation continue to legalize marijuana there is a lot of excitement, but also a lot of unanswered questions. The cannabis industry is new, it’s federally illegal, and it’s risky. But, as the saying goes “with great risk comes great reward.

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  • Three Questions for Succession

    February 20, 2019

    Baby boomers own around two-thirds of all privately held businesses in the US.  It is no secret that this generation is knocking on the door of the typical retirement age with many looking to transition their businesses and ride off into the sunset. The numbers are likely to be staggering over the next decade, with the potential transfer of wealth amounting to a number in the double digit trillions of dollars.  The transition of baby boomer businesses is something that should get more than a little bit of attention in the coming years.

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  • Will Banks get a Hit of the Cannabis Industry?

    February 14, 2019

    A subcommittee in the U.S. House of Representatives recently took up a bill that would protect banks and their employees doing business with legal cannabis enterprises.  On February 13th members of the House Financial Services Subcommittee heard testimony from representatives in the financial sector, the cannabis industry, law enforcement, and the treasurer of California in support of legislation that would make it easier for banks to work with legal cannabis businesses without fear of federal prosecution.

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  • New York State Will Not Follow the Tax Cuts & Jobs Act

    January 30, 2019

    New York State has decided to separate itself from certain personal income tax changes brought on by The Tax Cuts and Jobs Act (“TCJA”).  This will allow you to treat the items listed below the same as you would have prior to the TCJA.

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  • Valuation Issues in Marital Dissolution Part 2

    January 29, 2019

    This post is part two of a blog regarding valuation issues in divorce cases.  The first post focused on standards of value, valuation methods/approaches, and personal vs. enterprise goodwill.  As the intersection of business ownership and divorce can get very complex, there are a number of issues that should be considered.  This post explores three additional issues that can impact martial dissolution cases.

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  • Hemp Legalization

    January 23, 2019

    With the passage of the Agricultural Improvement Act of 2018, hemp is officially legal in the United States meaning that states may now apply to start producing hemp and hemp-derived products under the Department of Agriculture’s supervision. However, there are restrictions.

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  • Valuation Issues in Marital Dissolution Part 1

    Business ownership interests can be a central item of contention in divorce cases.  Oftentimes, the values of other assets are much clearer, assuming all parties have knowledge of their existence.  The value of privately held business interests are usually not as cut and dry.  It can be the case that the same business is valued differently by two separate qualified appraisers given the same information at the same time.  This fact alone lends itself to the potential for disputes to arise.  There are a number of factors in the mix in a marital dissolution case from a business valuation standpoint. 

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