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Business Archives

Housing Crisis = Business Crisis

The California Department of Housing and Community Development distributes a weekly news update from various sources.  This week one of the articles was entitled "Housing crisis needs California lawmakers to build consensus now."  The opinion article is from the San Diego Union-Tribune Editorial Board, January 27, 2017.  

Business - CA Supreme Court Weighs in on Breaks

Business is subject to not only the statutes passed by the California Legislature, along with the administrative regulations promulgated to further carry out the statute's "purpose" but also rulings from the California Courts related to statutes and regulations.

Business May Not Benefit - 2017 New CA Employment Laws

Business operations in California are regulation challenged as each year adds additional statutes and regulations.  2016 was no exception.  The California Department of Industrial Relations through the Office of the Director on December 28, 2016 issued its summary of all of the new employment statutes effective January 1, 2017.  To review the new employment laws, click here.

Business May Benefit - CA Sales & Use Tax Decreased 2017

Business in California, as well as individuals, will see a drop in the California Sales & Use Tax in 2017. Diane Hartley, Board of Equalization, distributed a detailed explanation of the sales and use tax drop from 7.50% to 7.25%. In addition to the California Sales & Use Tax, local jurisdictions may also impose sales and use tax with the combination resulting in a tax higher than 7.25%.

Small Business Saturday: November 26, 2016

With Small Business Saturday less than one week away, we encourage everyone to go out and support their favorite small business. On September 14, 2016, thirty six (36) Republican and Democratic Senators introduced a senate resolution, which recognizes November 26, 2016 as "Small Business Saturday."

Updated Default LLC Dissolution Statute Becomes Effective Jan. 1, 2017

Earlier this summer, an important piece of legislation that affects numerous businesses was signed into law. Pertinently, Assembly Bill 1722 was signed into law by California Governor Jerry Brown on July 22, 2016 and becomes effective January 1, 2017.

What is a "hybrid corporation"? Is it similar to a c-corporation?

Traditionally, directors of for-profit businesses are required to perform his or her duties in a manner that he or she believes is in the best interests of the corporation and its shareholders. This is often referred to as the duty to maximize financial return to shareholders. (Corp. Code ยง 309(a).) Today, some businesses are interested in more than just maximizing profits, which creates an inherent tension between the fiduciary duties owed to the corporation by its directors and the business operations of the corporation. 

Businesses Beware: Final paychecks are required for "retiring" employees too

Last month, the California Supreme Court handed down a decision that held that businesses must pay employees that "retire" in the same manner as prescribed by the Labor Code for employees who "quit."  (McLean v. California, 1 Cal. 5th 615 (2016).)

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The Loftin Firm, P.C.

The Loftin Firm, P.C.
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Carlsbad, California 92008-4713

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