On Wednesday, top EU and US officials attended the first meeting of the US-EU Trade and Technology Council, an effort designed to ensure that the West’s influence in technology and trade are maintained. The Representatives in attendance laid out plans to coordinate more closely on their response to emerging technologies and pressing trade threats. High-level commitments were made during the Council meeting to co-tackling burgeoning economic and security challenges. Challenges that include the regulation of artificial intelligence, easing of the semiconductor shortage...

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When individuals sign legal documents, including personal checks, contracts, tax returns, etc., they generally are not required to add any language explaining who they are. Their names alone satisfy the legal requirements for validating those documents. However, when those people are also officers of corporations or managers of partnerships or LLCs, they usually include their titles to establish themselves as representatives of those entities and not as individual signatories personally responsible for upholding the documents’ terms. Similarly, trustees signing legal...

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In closely-held businesses, a few unfortunate prospective events need to be addressed from the outset to be prepared when and if they occur.  What happens in the event of death, disability, retirement, or termination of one of the partners? At Cea Legal, our role as business attorneys is to share with our clients the automatic consequences of certain events unless dealt with in writing at the time of starting up the business and plan for an orderly transition. “In...

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Royal DSM, a global purpose-led, science-based company, announces its strategic decision to fully focus its resources and capabilities to address the urgent societal and environmental challenges linked to the way the world produces and consumes food. Consequently, DSM is simplifying its operating structure and reorganizing its Health, Nutrition & Bioscience activities into three Business Groups, each with clear opportunities to benefit the health of people and the health of the planet, underpinning DSM’s growth plans. At the same time,...

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The election to participate in the New York State Pass-Through Entity Tax (PTET) for the 2021 tax year is due by October 15, 2021. Earlier this year, the New York State Legislature enacted a new PTET that may provide individual investors in partnerships and S corporations with a valuable federal income tax benefit. Please see our previous guidance on that subject here. An authorized person can elect into the PTET on behalf of an eligible entity through the entity's New York State...

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The White House announced on September 20, 2021, that beginning in “early November” 2021, the Biden administration would remove restrictions on international travelers who are seeking to fly to the United States, provided that they are fully vaccinated against COVID-19. This policy change will apply to all international travelers, including persons from countries currently covered by a regional travel ban. The policy change will provide substantial relief to international travelers seeking to enter the United States, including many business...

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The European Investment Bank (EIB) President Werner Hoyer and Vice-President Ambroise Fayolle will discuss climate action at a series of events this week during the 76th session of the United Nations General Assembly and New York Climate Week. They will explain how the EIB is raising its climate ambition and will highlight the importance of partnerships to meet global climate goals. They also will outline what it will take to make the COP26 climate conference a success. EIB President Werner Hoyer commented: “Time is running...

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It became apparent this week, on the sidelines of the United nations General Assembly in New York, that a trade deal with the UK just isn’t a priority for Biden. While negotiations between the two countries formally began in May 2020, and despite there being five rounds of talks while Trump was still in situ, since Biden took the reins talks have essentially stalled.  Johnson held an in-person meeting with Biden on Tuesday in the White House, in the hopes of reigniting the discussions, but...

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Potential tax law changes have been on taxpayers’ minds for some time now. Unfortunately, there has been a lot of talk and not much action. That changed on Saturday, as the House Committee on the Budget voted to pass the $3.5 trillion spending bill out of committee and onto the floor. Almost two weeks ago, thirteen committees approved legislation to be included in a reconciliation package. As a reminder, reconciliation is a congressional tool that makes legislation easier to pass in the...

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