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Understanding the New Accounting Rules For Stock Options and Other Awards ( July 2005 )
Lawyers, tax professionals and other executives who are involved with granting equity-based awards to employees should have a basic understanding of the new accounting rules set forth under Statement of Financial Accounting Standards No. 123(R) ("FAS 123(R)"). An understanding of the rules is key to assessing their impact on current grants and developing strategies for future grants. The following discussion provides an overview. -
Treasury Department Issues Guidance under IRC Section 409A in Notice 2005-1 ( January 2005 )
On October 22, 2004, President Bush signed into law the American Jobs Creation Act (the "Act"). The Act created Section 409A of the Internal Revenue Code of 1986 (the "Code") that provides material changes to the tax treatment of nonqualified deferred compensation plans and arrangements. On December 20, 2004, the United States Treasury Department issued guidance on Section 409A in the form of Notice 2005-1 (the "Notice"). The key areas in which the Notice provided guidance are outlined. -
Sarbanes-Oxley Should Not Preclude All Broker-Assisted Cashless Option Exercises by Insiders ( August 2002 )
Although some law firms have advised public issuers to suspend broker-assisted cashless stock option exercises for executive officers and directors in light of Section 402 of the Sarbanes-Oxley Act, we believe, subject to certain limitations, that such suspension is not necessary. -
Cooley Alert: Fair Labor Standards Act Amended to Exclude Some But Not All Stock Option Compensation from Overtime Calculations ( August 2000 )
This alert reviews the new Worker Economic Opportunity Act (the "Act") which amends the Fair Labor Standards Act (the "FLSA") to clarify that an employer must exclude compensation attributable to a stock option, stock appreciation right or stock purchase under a "bona fide employee stock purchase program" (an "ESPP") from the calculation of overtime pay and also the calculation of whether the federal minimum wage has been paid for a non-exempt employee (i.e., an hourly employee). -
Avoid Disputes: Document Your Relationships With Your Medical Practice Group Before Problems Occur ( September 2000 )
Physicians often practice together for years, even decades, without documenting their business relationship. -
Right of Perpetual Usefruct in Polish Civil Law ( January 2000 )
This article discusses the right of perpetual usufruct (RPU) which is regulated by the Polish Civil Code. As the article demonstrates, an RPU is essentially a long-term land lease that grants the lessee the right to keep benefits derived from the land. -
Stock Option Income Subject To Earned Income Tax Levied By Pennsylvania Political Subdivisions ( May 2000 )
Pennsylvania residents who exercise stock options issued by their employer may be subject to local earned income ta.
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