Recession and Diminished Asset Values Offer Opportunities for Family Limited Liability Companies and Family Limited Partnerships

Publication: GBV LAW

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Family Limited Liability Companies (FLLCs) and Family Limited Partnerships (FLPs), have long been considered a method to protect and manage a family’s assets more effectively.  However, in addition to those benefits, an FLLC or FLP offers several tax advantages, some of which are actually enhanced in the current economy while real estate and other personal property are at their lowest values in years.

New York State Amends Employee Notice at Time of Hiring Requirements

Effective October 26, 2009, New York employers must obtain a written acknowledgement from every new employee indicating he has been notified of his straight time rate of pay, overtime rate of pay and regular pay day. The new law applies to all employees hired on or after October 26, 2009 and amends Section 195(1) of the New York Labor Law. Governor David Paterson signed this law on July 28, 2009.

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James J. McGovern Discusses NJDOL Change in Enforcement Policy

Author: James J. McGovern

Publication: HR Specialist

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Partner James J. McGovern discusses the New Jersey Department of Labor and Workforce Development’s (NJDOL) change in its enforcement policy requiring that all rounding must be done in the employees favor in his article, “When figuring time worked, you must round in employee’s favor” published in the November 2009 issue of HR Specialist.

This article was reprinted with permission from HR Specialist.

SEC Proposes New Pay to Play Restrictions

Publication: GBV LAW

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The Securities and Exchange Commission (“SEC”) has reconsidered a rule it last considered in 1999 to curb political contributions by investment advisers seeking to manage the investment of state pension funds. The new proposal comes in the wake of continuing investigations…

Workplace Harassment Training Reduces Employer Liability

Publication: GBV LAW

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The need to provide mandatory employment law training has been recognized now by most employers in the United States. Although California, Connecticut, and Maine are the only states requiring workplace harassment training by statute, employers in other states have followed their lead in an effort to reduce liability for ill-informed behavior of employees…

Department of Homeland Security Replaces No-Match Rule with E-Verify System

Publication: GBV LAW

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In December 2007 and December 2008 this column reported on developments in the Homeland Security Department’s attempts to enforce its No-Match Rule. The No-Match Rule made employers accountable for resolving social security number mismatches that the Social Security Administration (“SSA”) brought to the employer’s attention.

 

New York State Amends Employee Notice at Time of Hiring Requirements

On July 28, 2009, New York Governor David Paterson signed legislation that requires employers to give new employees at the time of their hiring written notification stating their rate of pay, overtime rate of pay and regular pay day. The new law requires the employer to obtain a written acknowledgement from employees indicating receipt of the notice. The legislation, effective for all employees hired on or after October 26, 2009, amends Section 195(1) of the New York Labor Law.

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