The New York State Department of Labor (NYSDOL) has adopted the proposed amendments to its Wage Orders – ending weeks of speculation about whether and when increases in the minimum salaries for employees to be exempt from overtime will come into force.1 This article summarizes the changes, which will take effect on December 31, 2016. Schedule of NYS Minimum Salaries for Overtime Exemption  The amendments are significant. Notably, the exemption thresholds for executive and administrative employees2 will increase depending on employer size,...

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On 27 December 2016 the Luxembourg Tax Authorities (Administration des contributions directes) issued Circular Letter L.I.R. – N° 56/1 – 56bis/1 (the “New Circular Letter”) on the tax treatment of companies engaged in intra-group financing transactions.   The New Circular Letter replaces the previous circular letters LIR N° 164/2 and 164/2bis dated 28 January and 8 April 2011 in order to render the Luxembourg transfer pricing rules compliant with the revised Chapter I Section D of the OECD Transfer Pricing Guidelines. The...

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Wilson Sonsini Goodrich & Rosati is pleased to present its 2016 Technology and Life Sciences IPO Report, which presents key data related to the pricing of 49 U.S.-based technology and life sciences issuers between January 1 and December 1, 2016. In a year of uncertainty in the domestic and international financial markets, the U.S. market for new issuers recovered from a halting start to post a solid second half.   Technology For technology IPOs, 2016 was a tale of two halves. The first...

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Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that Maxi Canada, Inc. (Maxi), a portfolio company of Lake Pacific Partners LLC, has been acquired by Altamont Capital Partners LLC (Altamont). The transaction closed on December 9, 2016. Founded in 1970 and located in St-Lin-Laurentides, Quebec, Maxi has developed an attractive portfolio of frozen poultry products sold throughout the United States. The company is known for its high-quality, great-tasting products sold under the Dino Buddies and Yummy...

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Many businesses and contractors who’ve worked for large companies may find themselves waiting and waiting to receive payment by the year’s end. Despite having delivered their products and services on time — and filed their invoices accordingly — employers can be left scrambling to meet payroll deadlines and pay suppliers when December 31st rolls around and they haven’t seen a dime from the larger companies with whom they’ve collaborated. How come some companies hold out so long to make good on their contracts?...

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2016 was a turbulent and busy year, not least in respect of legal and regulatory changes that may impact your business. Arendt & Medernach is pleased to provide you with an overview of the major legal and regulatory developments under Luxembourg and EU law.The company hope that this short flashback will enable you to keep track of the main legal trends which marked 2016 and those which we reasonably anticipate will arise in the near future. Read the report here Compliments of...

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On November 29, 2016, France’s National Assembly adopted the text of a bill (the “Bill”) that, if enacted, would create new due diligence obligations for large French companies regarding their subsidiaries’ and supply chain members’ labor practices.1  Under this Bill, covered companies must create and implement a “vigilance plan” to identify and prevent “serious violations of human rights and fundamental freedoms and the health and safety of people and the environment”2  Championed by President François Hollande and his Socialist...

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The EACC in partnership with the International Property Tax Institute (IPTI) wants to keep members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts. This report includes Greece, the United Kingdom, and the United States with a focus on New York. In addition, there are some brief notes about wealth tax in France and Spain along with property...

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Virtual Reality (“VR”) and Augmented Reality (“AR”) are relatively new forms of experiential content, and have the potential to appeal to a mass market. There is a tremendous opportunity for those who have the ability to create VR and AR content and entertainment to drive value through storytelling and creating immersive experiences. VR storytelling and experiences can create a tangible and visceral account of events, giving the viewer the experience of actually being in the shoes of others and seeing the...

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Industrial REITs on the Nice List; Continue Strong Performance Industrial REITs continue to please investors as they hit their second-highest YTD return for 2016 at 24.98%. While industry professionals have raised concerns that supply and demand issues may plague the next 12-24 months, the industrial sector has been noticeably active as it has posted high aggregate occupancy and low delinquency rates. Karina Estrella, an analyst at Trepp, reports that.. Compliments of Trepp - a member of the EACCNY

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