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January, 2018

Considerations for Moving a Business to Florida

January 22nd, 2018

Posted in Business Law,General Practice,IRS & Tax Information

The Tax Cuts and Jobs Act, which was signed into law on December 22, 2017, has far-reaching implications for many Americans.  However, one outcome that may affect all Floridians is the prospect of more neighbors.  The new federal tax bill generally favors more competitive, low tax states such as Florida.  In addition to added residents, Florida may see an increase in companies that call Florida home. For years, Florida has boasted a favorable tax climate for businesses.  Some tax incentives that attract business owners include a broad range of sales and use tax exemptions available to business, as well as the absence of corporate taxes for limited partnerships and some other entity forms, to name a few benefits.  
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Condominium and Homeowners’ Associations Should Coordinate with Legal Counsel Before Obtaining Loans

January 5th, 2018

Posted in Condominium & Homeowner Association Law

The past two hurricane seasons have resulted in many problems that Florida condominium associations, homeowners’ associations, and their managers are experiencing for the first time. Some problems include finding contractors to repair damaged property, negotiating a fair payment with the association’s insurers, and determining how to pay for repairs not covered by insurance (e.g., deductibles).  Associations that do not have sufficient reserve funds to cover the full costs of repairing the damaged property often have limited options to pay for repairs: either levy a special assessment against the members or obtain a loan (or both).  
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