LexisNexis® Legal Newsroom
New York State on Bitcoins: Transactions Are Barters for Sales Tax Purposes; Follow Federal Guidance for State Income Taxes

By Charlie Kearns The New York State Department of Taxation and Finance has issued guidance on the sales tax, corporation franchise tax, and personal income tax implications of transactions involving convertible virtual currency, such as bitcoins. The Department’s guidance can be found here....

New York Bans Hydraulic Fracturing Statewide

ALBANY, N.Y. — (Mealey's) The commissioner of the New York State Department of Environmental Conservation (DEC) on Dec. 17 announced at a meeting of Gov. Andrew Cuomo’s cabinet that he will “issue a legally binding findings statement” that will prohibit high-volume horizontal...

How to Comply with New York Blue Sky Laws

As I previously explained here , Rule 506 private placements involve the filing of a Form D with the SEC as well as complying with blue sky notice filings requirements in each state where the investors participating in the offering reside. Rule 506(b) or (c) offerings are exempt from regulation on the...

New York Wage Board Recommends $7.50 Hourly Wage for Tipped Workers

by Ryan Duffy Under a proposal recommended by the state’s Wage Board on Friday, January 30, 2015, tipped workers in New York state, including restaurant servers and hospitality workers, would have their minimum hourly wage increased to $7.50 per hour before tips. If approved by the commissioner...

Jury Verdict Round-Up: Top 10 Medical Malpractice Verdicts of 2014

During 2014, the attorney editors on the LexisNexis Jury Verdict team covered several notable medical malpractice verdicts from across the country. This informal list of top 10 cases captured our attention, so we thought you might like to hear about them. Our list includes substantial plaintiff’s...

Thinking About Skipping Out on Jury Duty?

A New York trial court fined a no-show juror $250 for skipping out on his juror responsibilities. The case, Matter of Richard N., 45 Misc. 3d 632, 994 N.Y.S.2d 514, 2014 N.Y. Misc. LEXIS 3969, 2014 NY Slip Op 24251 (N.Y. Sup. Ct. 2014) , involving a motor vehicle accident, commenced a summary jury...

Boston Scientific Pays $600 Million To Settle Guidant Contract Suit By Johnson & Johnson

MARLBOROUGH, Mass. — (Mealey’s) Boston Scientific Corp. on Feb. 17 announced that it has agreed to pay Johnson & Johnson (J&J) $600 million to settle a nine-year-old lawsuit alleging that Guidant Corp., which is now a Boston Scientific subsidiary, in 2006 interfered with J&J’s...

NY Department of Financial Services Answers FAQs Regarding New Debt Collection Regulations

by H. Scott Kelly , David N. Anthony , John C. Lynch and Alan D. Wingfield On February 19, 2015, the New York Department of Financial Services (DFS) issued guidance in the form of FAQs on its recently-enacted debt collection regulation (23 NYCRR 1). The guidance came in response to calls from many...

In a New York Minute: Six New York Tax Reform Decisions to Make in 2015

New York’s corporate tax reform includes sweeping changes affecting nearly every aspect of its corporation franchise tax. In their article for State Tax Notes , Sutherland Partners Leah Robinson and Marc A. Simonetti review what New York corporate taxpayers should be doing now to be ready for...

A Real Loss for New York: ALJ Rejects Hypothetical Application of Net Operating Loss

By Nicole Boutros and Open Weaver Banks A New York State Division of Tax Appeals Administrative Law Judge (ALJ) held that for banking franchise tax purposes a taxpayer did not have to utilize a net operating loss (NOL) carryover in a year in which the taxpayer did not pay tax on its entire net income...

NY Attorney General, FTC Bring Joint Enforcement Actions Against Debt Collectors

The New York Attorney General and Federal Trade Commission recently announced they had filed two joint federal court lawsuits against debt collectors in the Western District of New York. The Attorney General and FTC are seeking injunctive relief and damages for violations of the Fair Debt Collection...

State Net Capitol Journal: Cuomo Pushes to Raise NY Minimum Wage

New York Governor Andrew Cuomo (D) kicked off a statewide tour last week to promote his plan to raise the Empire State minimum wage to $10.50 per hour, which he said would lift 100,000 workers out of poverty and produce a $3 billion annual boost to the state’s economy. Cuomo signed legislation...

Duane Morris LLP: Electricity Policy Shifts Are Gaining Momentum In New York

In what is likely to be a harbinger of changes to status quo retail electricity markets, services and grid planning, the New York State Public Service Commission (New York PSC) adopted a new policy framework that would significantly influence the development of the electricity industry for years to come...

New York City Legislation Enacts General Corporation Tax Reform

On April 13, 2015, Governor Andrew Cuomo signed New York’s 2015-2016 budget legislation, which, among other changes, conforms the New York City general corporation tax to the most significant changes from last year’s New York State corporation franchise tax reform. View the full Legal Alert...

Another Specialty Pharmacy Settles Exjade False Claims Allegations For $45 Million

NEW YORK —(Mealey’s) Specialty pharmacy Accredo Health Group Inc. on April 30 agreed to pay $45 million to settle a whistle-blower’s allegations that its efforts to push prescriptions for the iron chelation drug Exjade resulted in false claims being submitted to federal health care...

In a New York Minute: A Complete Guide to New York's New Manufacturer Incentives plus an addendum regarding New York City's Manufacturer Rules

Perhaps no aspect of New York’s expansive 2014 tax reform has generated as much excitement as the incentives for qualified New York manufacturers. The new law spells out the requirements for qualification and has been supplemented by some additional guidance, including legislation passed a few...

2nd Circuit Finds NSA’s Bulk Metadata Program Not Authorized By Patriot Act

NEW YORK — (Mealey’s) A Second Circuit U.S. Court of Appeals panel on May 7 found that the National Security Agency’s bulk telephone metadata collection program is not authorized by Section 215 of the USA Patriot Act, reversing a trial court’s dismissal of the lawsuit brought...

A ‘Gossip Girl’ Cross-Continent Custody Catastrophe Case

Kelly Rutherford, an American actress known for her role in the television show “Gossip Girl,” has been involved in a custody dispute regarding her two minor children. Ms. Rutherford’s former husband, Daniel Giersch, was previously given custody by a California court. As he was unable...

Babst Calland: New York Issues Final Environmental Review on High-Volume Hydraulic Fracturing

By Michael C. Murphy | On May 13, 2015, the New York State Department of Environmental Conservation (NYSDEC) released its Final Supplemental Generic Environmental Impact Statement (SGEIS) on the Oil, Gas and Solution Mining Regulatory Program, signaling the completion of its environmental review of...

The Sun Shines on Taxpayers: New York State Tax Appeals Tribunal Grants Appeal in Combined Reporting Case

By Nicole Boutros and Andrew Appleby In yet another taxpayer victory, the recently reconstituted New York State Tax Appeals Tribunal determined that the New York State Department of Taxation and Finance improperly denied the taxpayers’ amended returns, which were filed on a combined basis for the...

Cesar Vargas, DACAmented Lawyer

Matter of Application of Cesar Adrian Vargas for Admission to the Bar of the State of New York - 2015 NY Slip Op 04657 - Decided on June 3, 2015 - Appellate Division, Second Department : "We are called upon to determine whether an undocumented immigrant, who is authorized to be present in the United...

DLA Piper: EPA Report Finds No Evidence Fracking Causes Widespread Impacts On Drinking Water

By: Robert J. Alessi and Jeffrey D. Kuhn | This client alert is part of an ongoing series by DLA Piper attorneys on the legal, regulatory and policy issues related to hydraulic fracturing and shale gas production in the US and internationally. The US Environmental Protection Agency has issued a...

A Matter of Convenience: From Bank Accounts to Real Property

By John G. Farinacci Estate litigators see a wide variety of disputed issues since the affairs of decedents are as diverse as the types of people they were during their lives. However, we also see many of the same or similar fact patterns. One of these involves disputes over whether the addition of...

NYC Council Votes to Sharply Restrict Employer Use of Criminal Background Checks

by Christopher Collins On Wednesday, June 10, 2015, the New York City Council approved a bill that will strictly regulate how employers in New York City (with at least four employees) may conduct criminal background checks. Mayor Bill de Blasio is expected to sign the bill, which will go into effect...

News Excerpts From the July 1, 2015, Bender’s Immigration Bulletin

New York Grants Law License to DACA Grantee | On June 3, 2015, an intermediate New York appellate court approved the application for admission to the bar of a Mexican citizen who was brought to the United States as a child and granted relief under the Deferred Action for Childhood Arrivals (DACA)...