LexisNexis® Legal Newsroom
The American Recovery and Reinvestment Act of 2009 and The Small Business Jobs Act of 2010 Reduce Tax Imposed on Certain Asset Sales by S Corporations in 2010 and 2011

By Lisa Petkun and Timothy Leska The American Recovery and Reinvestment Act of 2009 (the Stimulus Bill) eliminates the imposition of tax upon certain S corporations (but not their shareholders) in taxable years beginning in 2009 and 2010. Recently, President Obama signed into law the Small Business...

Neil Herman on Asset Sales in Retail Industry Chapter 11 Bankruptcy Cases

In this Emerging Issues commentary, Neil E. Herman, a partner in the Bankruptcy and Financial Restructuring Practice of Morgan, Lewis & Bockius LLP, explains how asset sales play a significant role in nearly every retail bankruptcy case. A variety of asset sale issues that are common in bankruptcy...

Snyder Says Detroit Won't Sell Art Assets

Michigan Gov. Rick Snyder (R) said the state has no plans to sell any artwork from the Detroit Institute of Art as part of the city's Chapter 9 bankruptcy filing. Speculation has been rampant for months that pieces from the museum collection would be sold. Fears ramped up further last week after...