As part of the 2010 Small Business Jobs Act, 100% of the gain from the sale of qualified small business stock acquired after September 27, 2010 and before January 1, 2011 (and held for more than five years) is excluded from income. If the stock is not "qualified" small business stock, then 100% of the gain [...]
New Delaware decision: Do LLCs give management greater protection against creditors than they would have in a corporation?
More LLCs are formed in the US each year than corporations and partnerships combined. The reason: maximum flexibility in profit sharing (LLCs allow corporate-type liquidation preferences or partnership-type profits interests), pass-through taxation (as in partnerships and S corporations), and the potential to reduce fiduciary duties or even to eliminate them (as has been suggested for [...]
TechCrunch Disrupt – Day 3 tidbits: Diller on Net Neutrality, Mobile Payments, Mobile Ads, and Disconcerting Social Networking Apps
The SF economy was humming at the Concourse Exhibition Center on Brannan Street last week, during the 3 days ofTechCrunch Disrupt. The cavernous, stretched-out room was full, plenty of milling around was going on around the exhibition space where a dozen or so startups had set up shop, and the action on the main stage, [...]