Jennings, Strouss & Salmon, PLC

Labor and Employment Blog Recreational Marijuana Passes in Arizona – Should Employers Be Concerned? November 10, 2020 Arizona voters recently approved Proposition 207 – also known as the “Smart and Safe Arizona Act” – which largely decriminalizes marijuana possession and use for those who are at least 21 years old, establishes a framework for regulating the sale and possession of marijuana, and imposes excise taxes on recreational marijuana.    Although marijuana was previously authorized under Arizona…
Bankruptcy, Restructuring, and Creditors’ Rights Blog Common Misunderstandings or Oversights that Members of a Family Business May Be Prone to as They Weigh Whether to File for Bankruptcy November 9, 2020 Family owned businesses account for approximately 63% of the U.S. workforce.[1] Some may even consider family owned businesses as the “backbone” of the nation’s economy. Many of them have been around for generations and continually contribute to their respective communities. Family owned businesses…
Estate Planning Blog Estate Planning: Spousal Lifetime Access Trusts (SLATs) October 19, 2020 Now may be the time to take advantage of a historically favorable tax environment.  It is unclear how long the lower rates and tax exemptions established by the Tax Cuts and Jobs Act (TCJA) of 2017 will last.  We know that many provisions of the TCJA will automatically expire in 2026 unless Congress makes them permanent.  However, Congress could modify them prior…
Corporate and Business Blog Securities and Exchange Commission Expands the Definition of “Accredited Investor” October 12, 2020 The United States Securities and Exchange Commission (the SEC) expanded the term “accredited investor” under rule 501 of Regulation D of the Securities Act.  The change becomes effective on December 8, 2020.  The SEC said it made the change to increase investment opportunities while maintaining investor protections. Generally, to offer or sell a security (like stock) to an…
Business Litigation Blog Things to Consider When Doing Business in Arizona: Unique Aspects of Arizona Law – From Cumulative Voting to Blue Pencils, Blind Trusts and Guns at Work September 24, 2015 Arizona is a great place to do business. It boasts an excellent regulatory environment, envious climate, skilled workers, fair tax rates, good transportation facilities, and a growing pool of consumers. In addition, CNBC ranked Arizona among the top fifteen of its “America’s
COVID-19 Blog Voting in Arizona During the COVID-19 Pandemic August 24, 2020 The COVID-19 pandemic has drastically changed the lives of most Americans. Most major events have either been postponed or canceled. However, the 2020 presidential election will take place on November 3rd.   How can we exercise our fundamental right to vote while remaining safe and socially distant?  This article explores an alternative option for voting in-person for Arizonans: Ballot-by-Mail. The Center for Disease Control…
Corporate and Business Blog Reopening Arizona: Gyms Must Comply with New ADHS Requirements August 10, 2020 Arizona gym and fitness center owners are now dealing with a new kind of “resistance training” that takes the form of ordinances, laws, regulations, guidance, and practical considerations for operating in the age of COVID-19.  The most recent and notable being Governor Doug Ducey’s Executive Order (EO) 2020-43 and the resulting legal battle.  In particular, EO 2020-43 ordered “indoor…
Real Estate Blog COVID-19 AND LIMITING INDOOR DINING IN ARIZONA July 10, 2020 The State of Arizona has recently seen a dramatic increase in the number of individuals testing positive for COVID-19.  On July 9, 2020, Arizona Governor Doug Ducey issued Executive Order 2020-47, entitled Reducing the Risk, Slowing the Spread, Limiting Indoor Dining. Executive Order 2020-47 mandates new rules for restaurants and other dining establishments that have indoor seating.  More specifically, it provides that…
Labor and Employment Blog Supreme Court’s LGBTQ Discrimination Decision Impacts Arizona Employers June 16, 2020 Title VII of the federal Civil Rights Act makes it unlawful for a covered employer “to fail or refuse to hire or to discharge any individual, or otherwise to discriminate against any individual… because of such individual’s race, color, religion, sex, or national origin.”  For a number of years, both courts and employers have grappled with the question of whether…
Real Estate Blog IRS Guidance Provides More Coronavirus Relief to Qualified Opportunity Funds and Their Investors – Including Additional Time To Invest June 9, 2020 On June 4, 2020, the Internal Revenue Service (IRS) further extended the period for some investors to reinvest capital gains into qualifying opportunity funds (QOFs) because of the continuing impact of the coronavirus pandemic. Under the opportunity zone incentive described in Section 1400Z-2 and associated regulations (Incentive), a taxpayer with…