In April of this year, a group of bipartisan senators led by Tim Scott (R-SC) and Cory Booker (D-NJ) introduced the Opportunity Zones Transparency, Extension, and Improvement Act (OZ Improvement Act) which, if passed, would update the Opportunity Zones tax incentive legislation that was enacted in 2017 (the OZ Program). The OZ Improvement Act currently…

With a booming economy and job market, the movement to eliminate non-competes continues to gain federal traction and remains at the forefront of discussions around innovation and economic growth. Most recently, on July 9, 2021, the Biden Administration issued its Executive Order on Promoting Competition in the American Economy (“Executive Order”) calling on the Federal…

On September 15, 2021, the House Ways and Means Committee approved certain tax proposals to be included in the “Build Back Better” $3.5 trillion reconciliation legislation. The legislation includes a number of tax increases designed in part to help defray the costs of the Biden Administration’s new spending bill, including, in particular, several changes to…

A letter of credit can be an effective tool for a business when it is required to provide additional payment security to a third party. The letter of credit is essentially a guarantee by a bank or other financial institution (called an “issuer”) to a third party (called a “beneficiary”) that it will be paid…

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