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03.22.2024New Jersey’s New Flood Risk Information Law Goes Into EffectBeginning on March 20, 2024, the new NJ law requires sellers of real property and landlords to make disclosures regarding known and potential flood risks in purchase and sale agreements and new leases and renewals.
Previously, sellers and landlords had no specific statutory obligation to disclose a property’s flood history to buyers and tenants or advise them if the property was located in a Federal Emergency Management Agency (FEMA) Flood Hazard Zone Area. This new requirement imposes one of the strictest requirements of potential flood risk disclosure on sellers and landlord in the nation.
12.13.2023Important Reporting Update for all LLC Owners – Corporate Transparency Act Goes into Effect January 1, 2024One of the main reasons that clients choose to form a limited liability company (LLC) is to protect themselves and their assets from the debts and liabilities that come with owning a business. Forming an LLC means that only the LLC can be held accountable for the debts and liabilities incurred by the business, thereby shielding the owners and managers from personal liability.
10.24.2022NJEDA Opens Application Process for Studio Partner and Film-Lease Partner IncentivesNew Jersey’s commitment to growing the Garden State’s film industry continues to develop. While New Jersey tax credits have already been awarded under the New Jersey Film and Digital Media Tax Credit Program, recent changes to the law have created two new designations that are meant to encourage the development of large, long-term studio facilities—Studio Partner and Film-Lease Partner—and the applications for these designations are now live on the NJEDA website.
05.13.2020How to Protect Your Business from a Spite StoreWhile the concept of a spite store may be far-fetched, it is of crucial importance for businesses of all types to ensure that competitors don’t open up for business right next door.
03.26.2020COVID-19: No Evictions During EmergencyIn light of the impacts from COVID-19 and the uncertainty related to its effect on business, we have seen the region quickly adjust to a new business reality. Both private industry and government have signaled they will work quickly to mitigate against the impact of slowdown in the wake of these changes. State, county and municipal governments have taken a number of measures to protect their residents.
09.12.2019Changes Coming to New Jersey Long-Term Tax Exemption StatuteSeveral bills affecting the long-term tax exemption statute are slowly making their way through the New Jersey Legislature. While each bill addresses different provisions of the statute, the common theme among them is one of restrictiveness.
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