Did you know that if your redevelopment project is located on a "deteriorated property" there may be an opportunity for special tax provisions to encourage its development?
Dan Kuperstein, an attorney in our Roseland office, brought to my attention that the DOLEBSA has released an Advisory Opinion clarifying "Prohibited Transaction" and "Party in Interest" rules pertaining to brokers providing services to ERISA plans.
On December 21, 2010, a former employee of drug company, Daiichi Sankyo, Inc. filed a lawsuit alleging that Daiichi misclassified pharmaceutical sales representatives (“Sales Reps”) as exempt employees thereby improperly denying them overtime under the Fair Labor Standards Act (“FLSA”).
On October 30, 2009, the Tax Court of New Jersey decided Mack-Cali Realty, LP, et al. v. Clerk of Bergen County, et al. which presented the question of whether the exemption from the realty transfer fee allowed by N.J.S.A. 46:15-10(a) where consideration is less than $100.00 is applicable from two conveyances from Mack-Cali to other limited liability companies which it was the sole member.