Real Estate

“Series” Limited Liability Companies Will Offer More Options to Ohio Businesses

“Series” Limited Liability Companies Will Offer More Options to Ohio Businesses

Ohio has adopted a modified Limited Liability Company law which becomes effective on January 1, 2022 for all Ohio LLCs and foreign LLCs doing business in Ohio (Senate Bill 276). One of the most important features of the new law is facilitation of the formation of so-called “series” LLCs. One benefit of a series LLC is that […]

Congress Trumps IRS and Confirms Tax Deductions for Expenses Paid with PPP Loans

On December 21, 2020, the United States Congress passed the Consolidated Appropriations Act, 2021 (the “Act”). President Trump is expected to sign the Act. Significantly, the Act specifies that business expenses paid with forgiven Paycheck Protection Program (PPP) loans are tax-deductible. This supersedes IRS guidance that such expenses could not be deducted if the taxpayer […]

Weston Hurd Recognized in U.S. News/Best Lawyers® as a 2021 “Best Law Firm”

Weston Hurd Recognized in U.S. News/Best Lawyers® as a 2021 “Best Law Firm”

Weston Hurd LLP is pleased to announce that its Cleveland and Columbus offices are recognized in the U.S. News/Best Lawyers® 2021 “Best Law Firms” list in both national and metropolitan categories. According to U.S. News/Best Lawyers®, achieving a “Best Law Firms” ranking involves a rigorous evaluation process that includes the collection of client and lawyer evaluations as […]

IRS Releases Much Anticipated PPP Deductions Guidance

IRS Releases Much Anticipated PPP Deductions Guidance

On November 18, 2020, the IRS released Rev. Rul. 2020-27 and Rev. Proc. 2020-51 providing desperately needed guidance on the timing issues related to Paycheck Protection Program (PPP) loan forgiveness and the deductibility of the related PPP expenses. Revenue Ruling 2020-27 In the guidance, the IRS confirms that a taxpayer may not deduct the PPP […]

PPP Update – Selling a Business in the Time of COVID

PPP Update – Selling a Business in the Time of COVID

On October 2, 2020, the Small Business Administration (SBA) issued a much-awaited notice clarifying the procedures for change of ownership for entities that have received Paycheck Protection Program (PPP) funds. The SBA issued a Procedural Notice, detailing required procedures impacting PPP borrowers and lenders if: (i) twenty percent or more of the common stock or other ownership interest […]

Ohio Makes Investigation Defense to Environmental Liability Consistent with Federal Law

Posted on in News, Real Estate

Effective September 15, 2020, purchasers of real property who meet the requirements to avoid environmental liability under the Federal Comprehensive Environmental Response Compensation and Liability Act (“CERCLA”) will also automatically satisfy those requirements and avoid environmental liability under Ohio law. Ohio has enacted Section 3746.122 of its Revised Code which essentially provides that if a […]

EIGHT WESTON HURD ATTORNEYS RECOGNIZED IN THE BEST LAWYERS IN AMERICA© 2021

EIGHT WESTON HURD ATTORNEYS RECOGNIZED IN THE BEST LAWYERS IN AMERICA© 2021

Weston Hurd LLP is pleased to announce that eight attorneys have been selected for recognition in The Best Lawyers in America 2021, the only purely peer-review™ guide to the legal profession. According to Best Lawyers®, inclusion is based on “…a rigorous peer-review survey comprising more than 9.4 million confidential evaluations by top attorneys.” Congratulations to the following Weston […]