Sentences with phrase «liability on a corporation»

In March 2004, Parliament passed Bill C - 45, also known as the Westray Bill, imposing criminal liability on corporations and executives that fail to ensure a safe workplace.

When faced with this situation, plaintiffs will often attempt to «pierce the corporate veil» and impose personal liability on a corporation's underlying shareholders.

Not exact matches

Settle on which form of ownership is best for you: a sole proprietorship, a partnership, a limited liability company, a corporation, an S corporation, a nonprofit or a cooperative.

It means that the obligations the law imposes on the corporation, such as liability for harms caused by the firm's operations, are not generally extended to the shareholders.

The «pass - through» business income rate applies to income from entities like like S - corporations and limited - liability companies (LLCs) that do not pay their own taxes, but pass their income through to their owners, who then pay tax on that income on their individual income tax returns.

Direct program expenses, consisting of other transfers / subsidies, Crown corporation expenses and departmental / agency expenses, increased by $ 3.3 billion on a year - over-year basis, with most of the increase attribtuable to the booking of the $ 2.8 billion liability for the Alberta floods.

A report released on Wednesday by state lawmakers tallied the top limited liability corporation givers to political campaigns, finding they range from top real - estate companies to high - powered law firms.

Corporations Use Limited Liability Companies to Skirt Campaign Contribution Limits Limited Liability Companies associated with luxury real estate mogul Leonard Litwin have channeled more than $ 900,000 into races for the New York State Senate this election cycle, largely to Republicans seeking to hold on to majority control.

Part J3 (p. 594)- adopts Governor's Executive Budget proposed increase in filing fees imposed on limited liability corporations and limited liability partnerships

He says they condoned the growing use of Limited Liability Corporations to skirt existing donation limits, and they loosely defined how politicians could spend their campaign funds on personal uses.

A coalition of groups on Monday urged the state Board of Elections to prohibit the practice of allowing individual donors to give unlimited campaign contributions through a network of limited liability corporations.

Limited liability companies, corporations and individuals linked to Tully Construction gave the governor $ 136,500 during his first term, and the $ 75,100 it donated in the first 200 days of his second (which began on Jan. 1, 2015) was enough to make it his third largest donor during the period under examination.

Cuomo appears to have given up on the state Legislature taking action to close the notorious LLC loophole, which allows wealthy donors to subvert campaign finance laws by creating multiple limited liability corporations that can each give more than $ 60,000 to a candidate's campaign.

Constrain contributions — Put the same $ 5,000 limit on contributions from limited liability corporations that exists for regular corporations, require LLCs to identify owners, and cap donations to housekeeping and party accounts.

Senate Democrats on Monday unveiled a package of ethics reform legislation that would cap outside income, strengthen disclosure requirements and close a loophole in campaign finance laws that guarantees unlimited contributions from limited liability corporations.

Because dividends are not tax free (as they are in pass through entities once tax on entity level earning has been paid by the owners - which would look politically ugly in a publicly held company context letting people receive millions in dividends and pay not taxes on it), and there is no deduction for dividends paid to the corporation (in most contexts), and there is no tax credit for taxes paid at the corporate level against income tax liability on dividends, the end result is that there is double taxation of corporate profits both when the profits are earned by the corporation and again when they are distributed to shareholders.

Howe also had Aiello make donations through limited liability corporations that were hard to trace and didn't have COR's name on them.

For starters, he should try to close the loophole that allows secretive limited liability companies to contribute as much as individuals can to candidates in statewide races, thus evading the much lower limits imposed on corporations.

The deal will include adjustments to corporate taxes that lead to about $ 10 million in cuts for companies — including exemptions for personal income taxes for people in the state less than 15 days, expanded enterprise zone benefits and a cap on the added liability from mandatory unitary reporting for large corporations.

Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable purposes, except that no distribution shall be made to organizations testing for public safety.

Florida's Corporate Tax Credit Scholarship Voucher skirts the unconstitutionality problem (Bush v. Holmes) by allowing corporations to donate some or all of the taxes owed through corporate income taxes, insurance premium taxes, severance taxes on oil and gas production, self - accrued sales tax liabilities of direct pay permit holders and taxes on beer, wine and alcoholic beverages directly to one of the four Scholarship Funding Organizations (SFOs), who then manage and award the vouchers.

While capital gains on the disposal of a second property can not be avoided altogether, there are strategies to reduce or defer the tax liability, including life insurance, the use of a trust or a corporation.

Liabilities: All claims on the assets of an individual or corporation.

On the other hand, I have never seen a bank backed by government or Crown corporations not assuming their liabilities with savers if the bank goes broke.

Use the forms that are numbered in the 200 series if you are preparing a bankruptcy on behalf of a nonindividual, such as a corporation, partnership, or limited liability company (LLC).

Corporate officers and agents are shielded from personal liability «for acts taken on behalf of the corporation in furtherance of corporate goals, policies and business interests,» his lawyers argued.

Given the softness of funding requirements for pension liabilities, the easy road for corporations and municipalities has been to skimp on funding pensions, leaving a bigger problem for others to solve 10 + years later.

Similarly, a business entity such as a corporation or an limited liability company may be the designated beneficiary if a business is purchasing life insurance on a business partner's life as part of an entity purchase buy - sell strategy.

Corporations, partnerships, limited liability companies, and trusts must also be on title to the replacement property the same way they were on the relinquished property, except in the case of disregarded entities.

Pet Lovers Companion (PLC), a division of J & K Marketing, Inc., a Maryland corporation, assumes no responsibility or liability for errors and omissions occuring in the community information provided on this site.

I agree to indemnify, hold harmless and release Judd Foundation, its directors, officers, employees, members, managers, affiliate, agents and contractors from any and all claims, liabilities, loss, damages, costs and expense of any kind whatsoever (including reasonable attorneys fees) by myself or any other person, entity, or corporation, and covenant not to sue or make any other claim because of the Foundation's decision to include or exclude a submitted work from the catalogue raisonné or its refusal to render an opinion on authorship.

The FCPA authorized the Securities and Exchange Commission (SEC) to issue new rules, including Rule 13b2 - 2, which imposes civil liability on corporate officers who mislead accountants concerning the corporation's finances.

Indiana Federal Court Dismisses Products Liability Claim by Worker Whose Shirt Caught Fire, Allows Negligence Claim to Proceed: Hathaway v. Cintas Corporate Services, Inc., Indiana Injury Lawyer Blog, November 30, 2012 Appellate Court Overturns Worker's $ 30 Million Verdict in Claim for Chemical Exposure: Solis v. BASF Corporation, Indiana Injury Lawyer Blog, November 9, 2012 More Than Forty People in Indiana Sickened in Fungal Meningitis Outbreak; State Seeks to Revoke License of Pharmacy Where Outbreak Allegedly Originated, Indiana Injury Lawyer Blog, October 31, 2012 Photo credit: «energizing drink» by lusi on stock.xchng.

Essentially, a B corporation protects the directors and officers from liability if they spend profits on a benefit specified in the founding documents.

You may also include other provisions, such as limitations on the powers of the corporation or its directors, or limits on a director's liability to the corporation.

The meeting took place on the corporation's common elements and Ms. Omotayo sued the corporation based on its alleged liability under Ontario's Occupiers» Liabiliability under Ontario's Occupiers» LiabilityLiability Act.

However, taking on a large corporation or retail outlet in a products liability case can be a difficult and costly process.

To prepare for the process, a corporation's principals should evaluate all existing assets and liabilities of the corporation and the potential impact dissolution may have on the corporation's rights and obligations under its agreements and applicable law.

By carrying on business through a corporation, the corporation's owners can avoid potential liabilities that they would incur by carrying on business directly.

Vicarious or indirect liability simply means that the driver was an employee of the trucking corporation and on the job when they caused the crash.

Notable mandates: Acting for the Government of Newfoundland and Labrador regarding the development and financing of the Muskrat Falls Hydroelectric Project, also known as the «Lower Churchill Project»; acting for the Government of Newfoundland and Labrador concerning the development and operation of the Hebron offshore oilfield project and the Hibernia South oilfield expansion project; acting for developers and placing financing on new hotel developments in downtown St. John's; defending class action claims involving product liability and taxation issues at a certification hearing and a common issues trial and appeal; acting for mining corporations involved in large - scale mine development projects in Labrador

For the most part, however, because enforcing debts against state governments is so difficult, transactions are structured as much as possible to prevent the need to enforce debts in that way through (1) legal limitations on governmental liability, (2) legislative budget rules requiring interest on debt and currently due principal payments to be made first, (3) third - party bonding of state and local governmental construction projects, (4) the creation of publicly owned corporations whose debts can only be collected out of the corporation's assets and revenues, and (5) avoidance of trade credit obligations by paying bills in cash.

Crowley Fleck Tax attorneys have extensive experience in advising clients on the tax aspects of corporations, partnerships, limited liability companies, and other business entities throughout the entire entity life cycle.

The ILP was required to address these obligations in part by having in place «appropriate management systems,» which, in turn were designed to balance the potential limitation on liability of the principals in a corporation.

Peter A. Mahler's litigation practice concentrates on corporate dissolution proceedings, contested stock valuations, derivative actions and other disputes among co-owners of closely held business entities, including limited liability companies, partnerships and business corporations.

Offering aggressive legal representatives well versed on product liability law who are not intimidated by large corporations, their insurance agents or their army of lawyers.

At the close of the Plaintiff's evidence, Mr. Mavrick made a motion that his client should be deemed to prevail in the case because the evidence showed that the Defendant corporation had no liability in the case based on its legal defense.

However, it has been argued that «[a] n increased focus on corporate criminal liability should not result in the culpability of offending individuals within a corporation being overlooked.»

It offers limited liability to its members, like a corporation, but unless the entity chooses to be taxed as a corporation, the income flows through to owners and they declare profits and losses on their personal income tax returns.

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