The primary benefit of using a corporate entity to conduct business is the limited liability protection afforded to its owners. Corporations, limited liability companies, and other such entities are recognized as legally distinct and separate from their owner(s). As a result, the owner’s personal assets are shielded from any liability for the entity’s debts. This principle applies equally whether in the context of a parent company using a subsidiary entity for a particular venture or in the case of an individual using an entity to operate a new business.
On February 19, 2019, the New Jersey Economic Development Authority ("NJEDA") announced the expansion of the existing Business Lease Incentive Program (commonly known as the "BLI Program").
Employers often implement binding arbitration policies as a way to avoid litigating claims in court. Many employers prefer arbitration because it can be confidential, less costly, and consume significantly less time than a trial. A recent decision from the New Jersey Appellate Division highlights how one word can make or break the enforceability of such policies.
On February 4, 2019, Governor Phil Murphy signed legislation to increase New Jersey’s hourly minimum wage rate from $8 to $15 (“A-15”). A discussion of key provisions of A-15 can be found here.
In addition to increasing the minimum wage, A-15 allows employers (“Employer”) who employ persons with impairments to receive up to $10 million in tax credits (“Tax Credits”) to offset the cost to an Employer of any increases in wages and payroll taxes for an impaired employee as a result of A-15.
In accordance with an agreement reached between the Governor and legislative leaders earlier this month, the New Jersey Legislature approved legislation, A-15 (the “Bill”), on January 31, 2019 to increase the state hourly minimum wage requirement from $8.85 to $15 over a five (5) year period. The Governor is expected to sign the Bill into law on Monday, February 4, 2019.
In accordance with the Supreme Court’s ruling, the Pennsylvania Department of Revenue (“DOR”) recently issued a new rule stating that a substantial economic nexus satisfies the Pennsylvania Tax Reform Code’s definition of “maintaining a place of business in Pennsylvania,” thereby requiring out-of-state sellers to collect and remit Pennsylvania’s sales tax (the “Nexus Rules”).
On January 17, 2019, Governor Phil Murphy and Legislative Leaders announced the collective decision to raise the minimum wage rate in New Jersey from $8.85 per hour to $15 per hour for most businesses over a five (5) year period. On January 24, 2019, the New Jersey Assembly's Labor Committee approved legislation (Assembly Bill A-15) that would implement the minimum wage increase. If approved by other Legislative Committees, passed by both the full Assembly and Senate, and signed into law by the Governor in its present form, key provisions of Bill A-15 include the following
In two recent decisions, the Public Employment Relations Commission (PERC) required school boards to continue paying employees the salary increases as written in their three-year contracts, even after those contracts have expired, disrupting the longstanding practice of withholding salary increments during negotiations until a new contract is formed.
This afternoon, Governor Phil Murphy and New Jersey Legislative Leaders reached a deal that, if approved by the full legislature and signed into law by the Governor, will, over a period of five (5) years, raise the minimum wage rate in New Jersey to $15 per hour for most businesses (reaching $15 per hour in 2024).
The governor’s office and the New Jersey Economic Development Authority (EDA) recently announced the initial group of collaborative workspaces that have been approved to participate in the NJ Ignite program.