Member News

Member News
07
May
On April 19, New York Governor Andrew Cuomo signed the state’s 2021-2022 fiscal year budget into law. The law contains several changes to New York’s tax laws, including tax rate increases on corporations and wealthier individuals. A summary of the New York State budget was recently released by Marks Paneth.
One of the more potentially favorable elements of the law is a new, elective “Pass-through Entity Tax” (PTE tax) which many businesses with operations or investors in New York may want...
06
May
This week’s special newsletter provides an overview of notable changes in Canadian and American immigration over the month of March, including all measures directly related to the COVID-19 pandemic. Here is the latest news as of May 6th 2021.
CANADA
New pathway to permanent residency for over 90,000 essential temporary workers and international graduates
Effective May 6, 2021, Immigration, Refugees and Citizenship Canada (IRCC) will begin accepting applications under the following three (3) streams:
20,000 applications for temporary workers in health care
...
06
May
Who Needs to Know
U.S. employers, particularly HR personnel.
Why It Matters
The May 31 deadline to notify workers about new COBRA continuation coverage rights is rapidly approaching. Many employers still have questions about who should receive this notice. This alert provides a step-by-step guide to help answer this question.
By now you’re aware that the American Rescue Plan Act (ARPA), signed into law by President Biden on March 11, provides a six-month COBRA subsidy for individuals who lose health coverage due to...
06
May
Companies involved in M&A deals falling below the EU and national notification thresholds need to think twice about their deal’s potential impact on competition from now on.
The Commission has kept its promise to tackle (non-notifiable) killer acquisitions and published Guidance on its upward referral mechanism. The Guidance has already been put to the test through a national referral of the (non-notifiable) Illumina/Grail acquisition to EU level. Until it is clear whether the EU courts share the Commission’s views, companies – particularly in the...
05
May
It seems a paradox, but in reality it can happen that modern cars, despite being increasingly reliable and powerful, sometimes become weaker as a result of the ever-growing number of their electrical functions. Up until the 1980s, a car would often break down because of a punctured tyre or a mechanical failure.
Over recent years, however, a battery malfunction has become the most common problem when a car comes to a stop on the road. There are some indisputable analyses:...
05
May
Key insights
The proposal for higher corporate income tax rates, as well as significant changes to existing international tax rules, would directly impact corporate taxpayers, particularly those with foreign subsidiaries.
Additional incentives have been proposed to spur clean energy, onshoring, and community-based investments.
On March 31, 2021, the White House released a summary factsheet of the “Made in America Tax Plan,” a tax proposal that would generate revenue to pay for the recent “American Jobs Plan” spending proposal. The White...
04
May
Changes in consumer behaviour and attitudes may be around for some time, what can retailers do to address them?
The reopening of the UK’s “non-essential” retail cohort in towns, cities and shopping centres this month feels like a confident, if carefully managed, step forward into a brave new world.
Hindered by the immense initial disruption and subsequent false dawns in 2020, this is a watershed moment for the retailers who have battened down the hatches for 12 months and counted down...
04
May
On April 15, 2021, the New York Department of Financial Services (NYDFS) issued a report on the recent SolarWinds cyberattack. A copy of the report is available here. NYDFS called the attack a “wake-up call” to regulated financial institutions and insurers that should cause them to immediately assess and, if necessary, improve their own cybersecurity posture in order to avoid victimization in future attacks.
NYDFS characterized the SolarWinds attack as a “widespread, sophisticated espionage campaign” by Russian foreign intelligence actors that resulted...
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