The Internal Revenue Code (IRC) Section 83 governs property transferred to an employee in connection with the performance of services. Currently, the section states that such transfers of property (typically restricted stock or stock options) are subject to federal income tax when the property is no longer subject to a substantial risk of forfeiture; however,…
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The JOBS Act: A Summary of What it Means for Businesses
The Jumpstart Our Business Startups Act or JOBS Act, intended to encourage funding of United States small businesses by easing various securities regulations, was signed into law by President Obama on April 5, 2012. By Louis A. Zambrio On April 5, 2012, the Jumpstart Our Business Startups Act (“JOBS Act”) was signed into law. The…
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New Jersey Considers Prohibition on Requiring Disclosure Of Personal Account Passwords
The proposed bill prohibits an employer from requiring a current or prospective employee to provide access to a personal account or even asking if they have an account or profile on a social networking website. By Alice Cheng Last month, a New Jersey Assembly committee approved a measure that would prohibit an employer from requiring a current or prospective employee…
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FTC Releases Final Consumer Privacy Report
Today, the Federal Trade Commission (FTC) issued a final report setting forth best practices for businesses to protect the privacy of American consumers and give them greater control over the collection and use of their personal data, entitled “Protecting Consumer Privacy in an Era of Rapid Change: Recommendations for Businesses and Policymakers.” The FTC also…
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