When someone buys or sells a business in Louisiana, the resulting capital gains will affect their annual tax returns. Capital gains are handled differently than typical income that's based on profits from the business; instead, they come from the sale of a capital...
Baton Rouge Legal Blog
Month: November 2019
Why estate plans need to be updated
Louisiana residents should ensure that they review their estate plans regularly. Director John Singleton, who died suddenly of a stroke in April, had a will from 1993 that had never been updated. Instead of a trust that would keep his estate plan private, make his...
Good reasons to establish an ESOP
Business owners who are looking to sell their companies may want to consider selling them to their employees. To do so, a company can establish an employee stock ownership plan, or ESOP. An ESOP allows an interest in the business to be held in a trust for the...
Determining the right price for your business to sell
Building a business can mean creating an income stream for many years to come or potentially securing a lump sum payment from someone when you sell your established business to someone else. You have invested countless hours of your own time and significant amounts of...
Toyota recalls another 900,000 vehicles over Takata air bags
Louisiana car owners may have heard that Toyota recently announced a recall of 928,000 vehicles with defective Takata air bags. The recall is the last phase of the automaker's multiyear effort to replace the explosion-prone air bags with safe ones.Faulty inflators in...