Capital raising is the sine qua non of small and medium-sized enterprises (SMEs). Few SMEs, however, have the inclination to register the sale of their securities with the Securities and Exchange Commission given the high costs and extensive regulatory requirements.
Multi-national companies often maintain a team of in-house attorneys to keep abreast of changes in the law and take appropriate actions to protect the best interest of the company. On the other hand, small to mid-sized businesses choose to spare the resources as an in-house legal department can be expensive.
In Part I of this series, we examined what Tax Sale Certificates ("TSC") were and how they are acquired in New Jersey. In this Part II, we will explore what a holder of a TSC can do to maintain priority lien position on the property as well as how it can acquire title to the property in question.
Entrepreneurs have a myriad of options for raising capital for their early-stage businesses including bootstrapping, crowdfunding, issuance of common stock, and issuance of convertible notes.
Businesses often require additional capital to start, grow, or manage business operations. To satisfy this need, businesses can pursue a variety of financing options.
In Parts 1 and 2 of this series, we discussed the circumstances that led to the planned phase-out of the London Inter-bank Offered Rate, commonly referred to as “LIBOR” and the proposed replacement rate known as the Secured Overnight Financing Rate (“SOFR”). In this last part of the series, we will present the proposed language recommended by the Alternative Reference Rate Committee (“ARRC”) to be used in new contracts that reference LIBOR.
Businesses often require additional capital to start, grow, or manage business operations. To satisfy this need, businesses can pursue a variety of financing options, including debt financing.
In a previous blog post we discussed the unintended consequences and proposed legislative corrections to New Jersey's 11.65% tax on short-term rental properties located within the State (referred to colloquially as the "Airbnb Tax"). Since then, the competing bills were consolidated and on June 27, 2019, the Legislature voted 74-0-1 in near unanimous favor of the revised Assembly Bill 4814 (“AB 4814”).
In Part 1 of this series, we discussed the circumstances that have led to the planned phase-out of the London Inter-bank Offered Rate, commonly referred to as “LIBOR”. In this part of the series, we will discuss the proposed replacement rate referred to as the Secured Overnight Financing Rate (“SOFR”).
On June 10, 2019, the New Jersey State Assembly passed legislation, A-1677, which would suspend penalties for businesses that make certain paperwork violations of state laws.