New Tax Incentives for Angel Investors

August 21, 2014 By

On July 23, 2014, Kentucky Governor Steve Beshear signed into law House Bill 445, which expands the Kentucky Investment Fund Act and provides tax credits to “angel investors” with the aim of encouraging individuals to invest in small local startups and businesses.

Effective January 1, 2015, angel investors who invest a minimum of $10,000 dollars in local businesses with “high growth potential” in fields like information technology, bioscience and advanced manufacturing, can receive a tax credit equal to 50 percent of their investment if the startup is located in a county that the state has determined is economically depressed. Investors can receive up to a 40 percent tax credit of an investment in businesses located anywhere else within the Commonwealth. The maximum annual credit that can be awarded to an angel investor is $200,000 dollars. The law also provides some tax incentives to angel investors outside of Kentucky. Investors who reside outside of Kentucky can transfer tax credit to state residents and under the new law. If the Kentucky resident purchases the credit, the out of state investor can then recoup some of their investment. [Read more…]

Filed Under: Business Law

Will the new Water Resources and Reform Development Act Encourage Private Investment?

August 7, 2014 By

On June 10, 2014, President Obama signed into law the new Water Resources and Reform Development Act of 2014 (“WRRDA”). The Act’s primary purpose is to improve America’s water infrastructure through the funding of construction programs and projects. Introduced in 2012 by Senators Barbara Boxer (D) and David Vitter (R), the bill garnered unusual bi-partisan support. The WRRDA is also noteworthy because of something the Act is missing. No earmarks. As noted by Speaker John Boehner (R), “this is quite a departure for a bill whose claim to fame -or infamy, as it were – was being saturated with earmarks.  Hundreds of them.” Of significant importance, the WRRDA provides an avenue for the use and acceleration of private investment. [Read more…]

Filed Under: Environmental Law

Kentucky’s New Uniform Trust Code

July 23, 2014 By

On July 15, 2014, Kentucky officially adopted the Uniform Trust Code (“UTC”), joining twenty-eight states that have officially adopted the UTC including Virginia, West Virginia, Tennessee and Ohio. Kentucky’s adaptation of the UTC will be codified under KRS Chapter 386B and as with any uniform law; the intent of the UTC is to provide clarity and stability to areas of the law typically governed by common law doctrine.  The Kentucky UTC brings with it some substantive changes to the law of trusts and estates, most notably: [Read more…]

Filed Under: Estate Planning

“Environmental Issues in the Foreclosure Process”

March 28, 2014 By

I will be speaking on “Environmental Issues in the Foreclosure Process” at the seminar presented by National Business Institute. I will be specifically addressing: (1) Environmental Conditions at Foreclosed Properties; (2) Assessment/Reassessment of Environmental Risk; and (3) Liability Protection for Lenders. The seminar will be held on April 8, 2014 at the Hilton Garden Inn Airport, 2735 Crittenden Dr., Louisville, KY. For more information and/or registration please go to http://www.nbi-sems.com/Details.aspx/R-65441ER . I hope that you can join me along with other presenters who will address foreclosure matters outside of the environmental arena.

Filed Under: Environmental Law

LEGAL TIPS FOR START-UP BUSINESS OWNERS AND OPERATORS

March 14, 2014 By

BUSINESS STRUCTURE

A typical mistake of a small start-up business is not availing itself of a business structure that may shelter the business owner from personal liability.  Corporations and Limited Liability Companies may afford such protection.

BUSINESS PLAN

A well thought-out and well vetted business plan is an essential element to business success. Business plans should include, without limitation, market analysis and planning, financial projections and cash flow analysis, organization of management team, sales strategies, just to name a few items. A business may be subject to liability and incur significant legal costs due the lack of sufficient forethought. [Read more…]

Filed Under: Business Law

Dancing with the Prospect Stars

January 23, 2014 By

I will be putting one foot after another Dancing With the Prospect Stars in support of the Special Olympics. Come join me on 2/9/14 at the Mellwood Arts Center in Louisville, KY. To learn more please go to www.dancingwithprospectstars.org.

Filed Under: Business Law

NEW LAW PROVIDING LIABILITY PROTECTION FROM CONTAMINATED PROPERTY

November 18, 2013 By

As part of the Commonwealth of Kentucky Brownfield’s Initiative, the Commonwealth of Kentucky Legislature has recently passed new law that affords certain environmental protections to present owners or prospective purchasers of real property. KRS 224.1-415 addresses conditions which a property owner is not liable for remediating contamination at the real property.

The threat and scope of environmental liability is so great that one can actually be required to take timely and costly corrective action to remediate contamination that may not even have been caused by that individual or entity.  The presence of contamination, or the perception that contamination exists, may significantly diminish the property’s value.  This threat has thwarted many transactions. [Read more…]

Filed Under: Environmental Law

Product to Market – Temporal Viability

September 4, 2013 By

I recently returned from Israel where I had the privilege of watching my daughter, Peyton, compete in the 19th Maccabiah Games representing the United States of America in swimming. The Maccabiah Games is the third largest international sporting event in the world. Thousands of athletes from around the world converge every four years in Israel to excel in their respective events. (By the way, Peyton won a gold and two silver medals).

The sporting venues are filled with fans cheering on their countries and athletes. At the swimming venue, there was downtime from the competition that allowed me to intermingle with the other spectators. [Read more…]

Filed Under: Business Law

Procurement of Growth Capital & Entrepreneur Support in Metropolitan Louisville

June 25, 2013 By

The Louisville, Kentucky business community holds a gem that is harbored by Greater Louisville, Inc. (Louisville, KY’s chamber of commerce). It is known as “EnterpriseCorp”. EnterpriseCorp provides advice and growth capital services for local businesses.

EnterpriseCorp assesses and assists your business through the use of benchmarking, operational analysis, strategic development, and implementation of the strategies. EnterpriseCorp’s advisory counsels are comprised of successful individuals who provide beneficial advice.

Growth Capital is imperative in the development and the continuation of your business. EnterpriseCorp can be used as a mechanism to help identify capital streams in various forms (e.g. grants, angel investors, accelerators, venture capital, and equity funds). EnterpriseCorp can introduce you to the players in the growth capital arena. [Read more…]

Filed Under: Business Law

Louisville, Kentucky: Where Are You Now & Where Will You Be?

June 4, 2013 By

Just recently, the Louisville Economic Chamber of Commerce (“Lou-E”) www.lou-e.org held its kick-off function at the University of Louisville, Shelby Campus. LouE is the result of the merger of the Northeast Lousiville Business Association and the Lyndon Area Business Association. As part of the celebration, the Mayor of Louisville, KY, Greg Fischer, was the keynote speaker. This presented the Mayor an opportunity to address some of his economic and cultural plans.

  • Growing Economy — Jobs in the Louisville Metropolitan region have expanded by approximately 4% over the last two years. The Brookings Institution has stated that Louisville is the 4th fastest growing metropolitan economy in the nation.
  • Vision Louisville — The Mayor has established a program which he calls “Vision Louisville”. This is a long term approach to how the City will look over the next 50 years. Vision Louisville is divided into short, intermediate and long term visions. The Mayor is developing programs that would make Louisville the “Digital” city of the future. [Read more…]
Filed Under: Estate Planning
« Previous Page
Call Now Button