Dissolution of Inactive California Nonprofit Organizations, Part 2
There are several hundreds, maybe thousands, of inactive nonprofits on the state’s books, accruing Californ yearly minimum franchise tax of $800, in addition to penalties and interest. AB 557 provides three new dissolution options to inactive nonprofit coporations.
Dissolution of Inactive California Nonprofit Organizations, Part 1
There are several hundreds, maybe thousands, of inactive nonprofits on the state’s books, accruing Californ yearly minimum franchise tax of $800, in addition to penalties and interest. AB 557 provides three new dissolution options to inactive nonprofit coporations.
Registration to do Business in Delaware Does Not Create General Jurisdiction Over Non-Delaware Corporation
If a corporation qualifies to do business in a state, that corporation is “in” that state, right? It has to send in annual registration fees, appoint an agent for service of process, and file tax returns. Hasn’t the corporation consented to general jurisdiction by reason of its registration?
Can a Non-Binding Term Sheet Ever Support a Claim for Expectation Damages?
The Delaware Supreme Court, in SIGA Technologies Inc. v. PharmAthene, Inc., Case No. D67068 (Del. Dec. 23 2015), recently reconsidered whether a term sheet labeled as “non-binding” could support a party’s damage claims where his counter-party failed to negotiate in good faith. The Court held that it could, and awarded damages of more than $100,000,000 to the aggrieved party.
Owe Money to the IRS? You Might Lose Your Passport
The IRS has powerful debt collection tools that greatly exceed those available to most nongovernmental creditors. Liens, levies, wage garnishments, and asset seizures become available to the IRS with fewer procedural protections for the debtor than would be present when a general commercial creditor attempts to collect a debt.