Published April 2, 2020 by

COVID-19 Legal Resources by Thomson Reuters and Walters Kluwer

Legal resource entities – Thomson Reuters and Walters Kluwer – launched free resource portal, which can be useful to practitioners.  In addition to news updates related to specific area of law, these portals provide sample language and forms.  Legal practitioners advising small businesses on payroll, loan, and financing issues, can find these portals especially useful.  Here are the links: Thomson Reuters: https://uk.practicallaw.thomsonreuters.com/w-024-5087?transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1#co_anchor_a769721 Walters Kluwer: https://lrus.wolterskluwer.com/campaign/coronavirus-resources-tools-covid-19/ Thomson Reuters and Walters Kluwer, Thank You!  

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COVID-19 New York State U.S. Federal

Published March 24, 2020 by

Small Businesses of New York State: Review of Getting Up To $5,100.00 / Person in Federal Funds

Coronavirus outbreak brought a chaos to a modern world of specialized division of labor and production.  Disruption in the supply chain in one part of the world today will affect businesses in the other locations.  Modern travel (or its sudden disruption) only contributed to the climate of uncertainty.  Uncertainty, in turn created anxiety, as evidenced by empty shelves and aggressive attitudes of folks visiting stores in this world’s richest countries, including the United States.  On top of all else, most people are strongly encouraged, and in some places required to remain within four walls of their homes most of the time.  Resources are getting scarcer, anxiety is reaching new heights!  What to do? One suggestion is to focus on exploring the resources that are available, especially those that come as a result of coronavirus outbreak.  If you are part of the business having less than 500 employees, or a self-employed individual in New York State (or other area subject to quarantine, such as California), then exploring a resource made available by the U.S. Government can be useful. The resource that is the focus point of this article is the tax credit of up to $5,100.00/person made available by the federal…

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Corporate Law Health Law Tax Law

COVID-19 New York State U.S. Federal

Published January 6, 2014 by

Affordable Care Act’s Transitional Reinsurance Program Fees: Who Pays?

An interesting practice by some of insurance industry members came to the attention of our office.  Affordable Care Act (also known as “Obamacare”) includes a provision, under § 1341 (see pp. 226-227), which mandates “insurance issuers, and third party administrators” to pay fees for a project called Transitional Reinsurance Program.  The fee is determined by the Department of Health and Human Services and is set to be $63 for 2014.  See 78 Fed. Reg. 15,410, 15460 (March 11, 2013).  While Congress specified the parties who pay the transitional reinsurance fee – insurance issuers, and third party administrators – the ambiguity still remains as to whether the insurance issuers, and third party administrators can shift that fee on others (as opposed to coming up with the funds from their own corporate coffers and bringing less value to their shareholders).  A letter addressed by one such member of insurance business community suggests that fee shifting is an option.  Below is a partial reproduction of the letter (with specific identities being redacted): 2014 Affordable Care Act (ACA) Fee Notice Dear Jane Doe, As part of the Affordable Care Act (ACA) new fees will impact you beginning January 1, 2014.  These new fees are…

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Affordable Care Act New York City New York State U.S. Federal