By Jason Palmisano
Carmelo Anthony is a professional basketball player who recently signed a lucrative new NBA free agent contract with the New York Knicks. Michael McCann recently wrote an article in Sports Illustrated providing a breakdown of the potential income tax consequences if he had signed with the Chicago Bulls, Miami Heat, or Houston Rockets for the maximum amount with each team. Note, the “Jock Tax” in the chart is is a standard 4% agent commission. (hat tip: Paul Caron)
We are excited to announce the launch of our redesigned website, www.lowndes-law.com. The site welcomes guests with warm colors, a clean design, crisp new images and fresh content. A strong brand message, “LOCAL ROOTS. BROAD REACH.SM” reflects the firm’s experience and service as well as our commitment to the growing needs of our clients. To learn about some of our new features and objectives behind the new website, please click on the PLAY button below. To visit our Private Wealth Services page, go to www.lowndes-law.com/services/297-private-wealth-services. We hope you find the redesigned website easy to use. Visit often as we are continually updating information that may be helpful to you!
By: Jim Hoctor
Just like a corporation, a limited liablity company can have non-voting interests. Non-voting interests are often used in LLC’s formed for family investments or when interests are given or sold to employees of the LLC. An important benefit of making these interests non-voting is that non-voting members don’t have “appraisal rights.” Under the Florida LLC act, appraisal rights give a dissenting voting member the right to force a court action to determine the value of his or her interest and require the company to purchase the interest based on that value. The new Florida limited liability company act has added the sale of all or substantially all of a LLC’s assets as an event that triggers appraisal rights. Previously, the only transactions that triggered appraisal rights for members of a Florida LLC were a merger or a conversion. Therefore, it is now even more important to consider using non-voting interests in Florida LLC’s.
Julie Frey answers commonly asked questions about having a will on Fox 35 News Good Day Orlando this morning. Click here to watch the video.
Tune in on Wednesday, May 7th at 7:30 am as Julie Frey discusses the importance of wills and what you should know on Fox 35 News Good Day Orlando
