Remove Definition Remove E&A Remove Insurance
article thumbnail

Oil Spill Liability: OPA 90 v. the IMO’S CLC

The Energy Law

4 However, only ships carrying more than 2,000 tons of oil are required to carry insurance for oil pollution. Similar to OPA 90, vessels required to carry insurance must carry enough to cover their potential liability for an oil spill. But what happens when a vessel spills oil in the territorial waters of another country?

Oil 105
article thumbnail

Some Thoughts on Registration of CPA’s as Solicitors

The Energy Law

Most states include a similar definition. However, the SEC and most courts have limited this exemption to providing information on broad classes of assets and the referral to a particular advisor would be outside of this definition. For many investment advisers, CPAs are a big source of referrals.

E&A 40
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Congress Passes the Corporate Transparency Act to Require Beneficial Ownership Disclosure

The Energy Law

The preliminary definition of a “reporting company” includes corporations, limited liability companies, and other similar entities that are created by filing a document with the secretary of state (or an equivalent office) of any state, or are formed under foreign law and are registered to do business in the United States in a like manner.

E&A 52
article thumbnail

Additional Guidance for Coronavirus-Related Distributions and Loans Under the CARES Act

The Energy Law

Expanded Definition of Qualified Individual IRS Notice 2020-50 expands the CARES Act definition of a qualified individual who is eligible for CRDs, loans, and loan payment suspension. For more information on these CARES Act topics see our prior newsletter here.

E&A 40
article thumbnail

Congress Passes the Corporate Transparency Act to Require Beneficial Ownership Disclosure

The Energy Law

The preliminary definition of a “reporting company” includes corporations, limited liability companies, and other similar entities that are created by filing a document with the secretary of state (or an equivalent office) of any state, or are formed under foreign law and are registered to do business in the United States in a like manner.

E&A 40
article thumbnail

Opportunity to Minimize the New Tax on 501(c)(3) Exempt Organization Employee Parking

The Energy Law

The TCJA changed this definition so that certain amounts spent by an EO on qualified transportation fringe benefits ( e.g. employee parking) are treated as UBTI. New Tax on Employee Parking EOs pay federal income taxes on their UBTI at a 21% rate. If so, the EO’s costs up to $260 per month per employee will be subject to the new tax.

E&A 40