Nonprofits tap into new market tax credits, IRS provides HSA relief, and more in this issue of Business News Digest

NPOs Tapping Into New Markets Tax Credits

Originally published April 12, 2018 in The NonProfit Times

The New Markets Tax Credit (NMTC) Program is an effective way for nonprofit organizations and businesses located in low-income, distressed or rural communities to secure favorable financing for projects such as charter schools, health clinics and charitable operations. The NMTC Program is a federal subsidy program designed to stimulate private investment in low-income communities by providing private investors with federal tax credits.

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House Foreign Affairs Committee Mark-up of the BUILD Act (S. 2463)

This is an update regarding Senate Bill 2463 (the BUILD Act). The BUILD Act creates the U.S. International Development Finance Corporation (IDFC), a new wholly owned government corporation that will replace the Overseas Private Investment Corporation (OPIC) and transfer the Development Credit Authority, the Enterprise Funds, and the Office of Private Capital and Microenterprise from the U.S. Agency for International Development (USAID) to the IDFC.

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IRS Provides HSA Relief for 2018

In an earlier client alert, we described a problem with the 2018 health savings account (HSA) contribution limit, and indicated that Congress had asked the IRS to implement a specific solution. We’re sending you this alert to let you know that yes, the IRS has implemented that solution. The problem concerns individuals with family medical coverage and the maximum amount that may be contributed to those individuals’ HSAs for the 2018 calendar year.

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Finders and Unregistered Broker-Dealers

In the last few years, we have seen a number of important developments in the securities laws related to finders and broker-dealer registration requirements. Below we provide an overview of the broker-dealer registration requirement as it relates to finders who assist in matching issuers with investors or buyers and the latest developments in this area.

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Risky Business: What You Didn’t Know About Veil Piercing of Wholly Owned Subsidiaries

With proper planning, wholly owned subsidiaries and their parents can rebuff veil-piercing claims in even the most hostile legal environments. Where separate subsidiaries are formed with the goal of minimizing risk, parties should consider the laws of jurisdictions where the subsidiary may be subject to claims in addition to where it is organized.

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Association Retirement Plans – An Idea Whose Time Has Come

Better Utilization of Investments Leading to Development (BUILD) Act of 2018: A bill to establish the U.S. International Development Finance Corporation

Congressional, Executive, and Legal Developments for Government Contractors to Consider | April 6, 2018

Criminal and SEC action involving an initial coin offering, FTC obtains injunction halting alleged cryptocurrency pyramid scheme, and more in the April 2018 issue of Fund Forum

Exempt or Non-Exempt: Now to Be Construed "Fairly," Not "Narrowly"

FinCEN's new beneficial ownership rule, a look at FTC jurisdiction, and more in the April 17, 2018 issue of Consumer Financial Services Practice Digest

Maryland Estate Tax – Unified Credit Change Enacted in 2018 Legislative Session

Maryland Imposes Sweeping New Liability for Construction General Contractors

"Unavailability Rule" Is Unavailable In New York