The start of 2022 is here, and in addition to the usual beginning-of-year tasks for businesses, every LLC organized or qualified to do business in Ohio should familiarize itself with Ohio’s Revised Limited Liability Company Act (“New LLC Act”), which is now set to...
Corporate & Securities
Metaplex Raises $46 Million for New NFT Protocol
The Growth of NFTs Non-fungible tokens (NFTs) had their best year ever in 2021. Although the concept of NFTs dates back to 2015, they’re now a mainstream phenomenon with big name brands—such as Asics and Mattel—implementing them in their marketing mix. At its most...
New Tax Rule Changes Reporting Requirements for Venmo, PayPal, Cash App
A new tax rule will see the Internal Revenue Service (IRS) gain information on income small businesses receive via transactions on popular payment applications. As of Jan. 1, 2022, businesses that accept more than $600 per year in payments for goods and services...
Regulating Crypto: Cryptocurrency Executives Head to Capitol Hill
A recent study found that 16 percent of Americans have invested in, traded or used cryptocurrencies such as Bitcoin and Ether. This widespread use, coupled with the cryptocurrency industry having limited to no regulatory oversight, has caught the attention of...
$200 Million in Grants Available To Eligible Ohio Businesses
Governor Mike DeWine and Lt. Governor Jon Husted announced that millions of dollars in grants remain available through the Ohio Development Services Agency for eligible Ohio businesses. These programs are intended to provide relief to certain industries that were...
Biden’s $2T Build Back Better Act Passes House
The US House of Representatives passed President Biden’s $2 trillion “Build Back Better” act (the “BBB”) Friday morning on a 220-213 party line vote. The Act now heads to the Senate, where Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) have expressed significant...
Five Tips for Businesses to Navigate the Supply Chain Crisis
At this point, it is impossible to escape hearing about or experiencing the supply chain crisis grabbing headlines and impacting businesses – and families – across the globe. This issue has attracted the attention of the single consumer clear up to the Biden...
SEC Staff Issues Report on GameStop and Other Meme Stocks
2021 was a year of unexpected—and sometimes baffling—events. In the midst of cascading economic failure caused by the COVID-19 pandemic and political turmoil, one cartoonishly-quirky episode swept the nation involving an unlikely main character: GameStop Corp (NYSE:...
House Passes 1.2T Infrastructure Bill, Sending to Biden for Signature
Following months of negotiations, the House of Representatives passed the $1.2 trillion infrastructure package Friday, sending it to the President for signature after the Senate passed the measure in August. President Biden announced he will schedule a signing...
COVID Business Interruption: One Court Giveth and the Other Court Taketh Away
As we reported in late January 2021, a judge of the Federal District Court in Cleveland tried to provide a slight glimmer of hope to businesses hoping to establish loss of business income claims. As reported in late September 2021, the Sixth Circuit unanimously struck...