New York Courts do not have the power to order the dissolution of a corporate entity that operates in the State of New York, but was formed under the laws of another state. In Re Matter of Raharney Capital, LLC v. Capital Stock, LLC, 138 A.D. 3d 83 (1st Dept. 2016). In that case, Plaintiff, Raharney Capital, LLC, (“Raharney”) a Delaware limited liability company with a principal place of business located in the State of…

A valuable feature of an Individual Retirement Account (IRA) or a Qualified Retirement Plan (401k, 403b, etc.)(QRP) is the ability to invest without incurring contemporaneous taxes on the investments held in the account. This benefit is available to both the original owner of the account and to designated beneficiaries who inherit the account after the owner’s death. For this reason and others, it is very important to name appropriate beneficiaries for an IRA or a…

Retail and restaurant Chapter 11 bankruptcy filings continued to grab headlines in 2019. According to CNBC, there were 23 retail bankruptcies in 2019, compared with 17 in 2018. Six (6) retailers and one (1) restaurant chain that were on our “Watch List” in 2019 filed for Chapter 11 protection – Charming Charlie (Part 2), Forever 21, Payless (Part 2), Charlotte Russe, Things Remembered, Gymboree (Part 2), and…

Recently, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was enacted into law. The SECURE Act makes significant changes to the administration of Individual Retirement Account (“IRA”) and Qualified Retirement Plan (401k, 403b, etc.)(“QRP”), and was effective on January 1, 2020. For many people, an IRA or QRP is one of their most valuable assets. Because these assets result from hard work to create and maintain the account, owners should be aware…

As the year comes to an end, a new calendar was likely a present received during the holiday season. Many of us instinctively throw out an old calendar. But wait; it can be so much more than a trip down memory lane!…

We live in a time where information flows freely, quickly, and openly to both individuals and companies alike. As a result, the availability of a criminal record search, or other similar search concerning an individual is easily obtained. In fact, a search can often be performed without the consent or authority of the person who is being searched. For these reasons, employers now typically require a mandatory background checks prior to hiring. As a result,…

In June 2019, the Legislature passed the New Jersey Hemp Farming Act (the “HFA”). This is great news for the “Garden State.” New Jersey has hundreds of thousands of acres in farmland and hemp cultivation may prove to be a lucrative business. Previously, hemp cultivation in New Jersey was limited to non-germinating seeds and stalks of the hemp plant and confined to individuals who were approved to collaborate with educational institutions to research the plant.…