Tax Law Defined® Blog
Frost Brown Todd’s (FBT’s) tax-related blog serves as a practical resource on all things tax – from federal, state and local taxes to more nuanced areas like LLCs, succession planning, employee benefits, estates, incentives and regulated industries taxes. Our authors cover topics pertaining to corporations, employers, individuals, family-owned business, as well as those working in regulated industries, such as manufacturing, logistics, alcohol, tobacco and equine, that are subject to specific tax laws.
Recent Blog Posts
April 21, 2025 | Qualified Small Business Stock (QSBS)
*This article is part of a series addressing entity decision and planning issues related to qualifie...
April 7, 2025 | Blogs
The 2017 Tax Cuts and Jobs Act (the “TCJA”) brought significant changes to the federal estate an...
April 1, 2025 | Blogs
Kentucky’s gold bullion sales tax exemption was (arguably) enacted under H.B. 8 in the General Ass...
March 18, 2025 | Qualified Small Business Stock (QSBS)
*This article was updated on March 20, 2025. Section 1202 provides for a substantial exclusion of ...
February 13, 2025 | Publications
Is the Kentucky General Assembly’s population-based statutory structure for permitting a city to i...
February 5, 2025 | Blogs
On November 7, 2024, the IRS introduced new Form 15620 (Section 83(b) Election) that a taxpayer may ...
February 4, 2025 | Publications
There have been a number of legal developments in recent months, from newly passed laws to recent co...
January 29, 2025 | Tax Law Defined™ Blog
Section 1202 provides a gain exclusion when a stockholder sells qualified small business stock (QSBS...
December 10, 2024 | Qualified Small Business Stock (QSBS)
Many owners operating their businesses through limited liability companies (LLCs) and limited partne...
December 10, 2024 | Qualified Small Business Stock (QSBS)
Many owners who operate their business through a limited liability company or limited partnership co...
December 5, 2024 | Publications
The Inflation Reduction Act of 2022 (IRA) incentivizes investment in clean energy projects by offeri...
November 22, 2024 | Blogs
On June 6, 2024, the U.S. Supreme Court issued a unanimous decision in Connelly v. United States reg...
November 6, 2024 | Blogs
While the 2024 Kentucky Legislative Session was pretty quiet on the tax reform front, there was one ...
October 15, 2024 | Publications
This article considers whether there is a role for a self-directed Roth IRA when structuring the own...
September 30, 2024 | Blogs
Section 1202 provides for a substantial exclusion of gain from federal income taxes when stockholder...
September 4, 2024 | Publications
Imagine if a minor shift in your organization’s status—something seemingly superficial, like the...
September 4, 2024 | Publications
This article is one in a series of articles and blogs addressing planning issues relating to qualifi...
September 1, 2024 | Blogs
In 2021 the West Virginia State Tax Division published a document entitled “Sales and Use Tax for ...
August 27, 2024 | Blogs
*This article was originally published in Tax Notes on August 12, 2024. Muhammad Ali may be the most...
August 12, 2024 | Blogs
Owners of federally subsidized multifamily properties in Ohio are now able to make specific financia...
July 22, 2024 | Qualified Small Business Stock (QSBS)
Section 1202 provides for a substantial exclusion of gain from federal income taxes if a stockholder...
June 20, 2024 | Blogs
*This article was originally published in Tax Notes (Vol. 112, No. 10) on June 3, 2024. In recent ...
June 7, 2024 | Blogs
Tennessee is the next state to follow a national trend and enact its own state low-income housing ta...
May 30, 2024 | Blogs
In an earlier blog entitled, “Gold Bullion and Kentucky Sales Tax – The Ghost of Caesar Haunts,...
May 24, 2024 | Blogs
With such significant tax reform legislation passed in Kentucky over the last several years, some sp...
May 10, 2024 | Blogs
*This article was originally published by Law360. Over the last several years, the Kentucky Genera...
April 26, 2024 | Blogs
On April 25, 2024, in a significant development for taxpayers doing business in Tennessee, both the ...
April 25, 2024 | Blogs
Stockholders must satisfy several eligibility requirements before they can claim Section 1202’s ge...
April 19, 2024 | Blogs
Last week, the Kentucky General Assembly during its 2024 Regular Session enacted H.B. 8, one provisi...
April 16, 2024 | Publications
The Simple Agreement for Future Equity (SAFE) was introduced in 2013 on the startup accelerator Y Co...
April 12, 2024 | Blogs
The Simple Agreement for Future Equity (SAFE) was introduced in 2013 by startup accelerator Y Combin...
April 11, 2024 | Blogs
Now that much of the craziness and uncertainty of the COVID-19 pandemic has passed, which affected t...
March 27, 2024 | Blogs
In what has otherwise been a generally mild Kentucky Legislative Session in terms of tax reform, the...
March 20, 2024 | Blogs
The 2024 Regular Session of the Kentucky General Assembly is coming to a close next month, and not s...
March 19, 2024 | Qualified Small Business Stock (QSBS)
Section 1202 provides for a substantial exclusion of taxable gain from federal income taxes when sto...
February 8, 2024 | Blogs
Tennessee Governor Bill Lee delivered the State of the State address on February 5, 2024, in which h...
February 8, 2024 | Publications
As an update to our past regional round-ups in the alcohol space, Kentucky and West Virginia continu...
February 6, 2024 | Publications
The Tennessee business tax is a privilege tax on the privilege of doing business by making sales of ...
January 17, 2024 | Qualified Small Business Stock (QSBS)
The combination of the 21% corporate federal income tax rate and the possibility of qualifying for S...
January 8, 2024 | Blogs
Recent Kentucky tax legislation continued to expand the landscape of services subject to sales and u...
December 20, 2023 | Blogs
As a major update to our recent article, trade representatives for the European Union (EU) announced...
December 8, 2023 | Blogs
As a prerequisite to the tax appeal process in Michigan, a taxpayer must pay the uncontested portion...
November 17, 2023 | Blogs
The Tax Cuts and Jobs Act of 2017 (TCJA) introduced significant changes to the deduction of business...
November 14, 2023 | Blogs
This article was originally published in Law360 Tax Authority. On Dec. 15, 2022, the Kentucky Supre...
November 6, 2023 | Blogs
While some were speculating that a recent Kentucky severance tax case may lead to a new Dormant Comm...
October 26, 2023 | Qualified Small Business Stock (QSBS)
Section 1202 provides for a substantial exclusion of gain from federal income taxes when stockholder...
October 24, 2023 | Blogs
On October 19, the Internal Revenue Service (IRS) announced the process for concerned employers to w...
October 12, 2023 | Blogs
Applications for the low-income communities bonus credit program (the “Bonus Program”) under Int...
October 12, 2023 | Qualified Small Business Stock (QSBS)
The combination of the 21% corporate income tax rate and the possibility of qualifying for Section 1...
September 20, 2023 | Blogs
This article was originally published in Law360 Expert Analysis. The commerce clause of the U.S. Con...
September 18, 2023 | Blogs
This article was originally published in Bloomberg Law Daily Tax Report. Many taxpayers, tax pract...
September 15, 2023 | Blogs
On September 14, the IRS announced that it would stop processing new claims for the Employee Reten...
August 29, 2023 | Blogs
This article explores recent developments in the U.S. federal taxation of virtual currencies by the ...
August 17, 2023 | Publications
The SECURE 2.0 Act of 2022 (SECURE 2.0), which was passed as 2022 wound down, expands on the Setting...
August 15, 2023 | Blogs
Signed by Governor Mike DeWine on July 3, 2023, Ohio’s Fiscal Year (FY) 2024-2025 biennial ope...
August 15, 2023 | Publications
Certain 401(k) and 403(b) plans must be amended to allow part-time employees to participate under ne...
August 3, 2023 | Blogs
Governor Andy Beshear signed House Bill 499 into law in April 2022, thereby creating a new program c...
July 28, 2023 | Blogs
*Kenny Schwalbert, a J.D. candidate at the University of Louisville Brandeis School of Law, contribu...
July 27, 2023 | Blogs
Partners in a partnership and members of a limited liability company that is taxed as a partnership ...
July 14, 2023 | Blogs
One year ago, the Florida Legislature amended Florida Statute Section 736.0505, which made the tax-s...
July 7, 2023 | Blogs
This article was originally published by Law360 Expert Authority. The Ohio Senate issued its versi...
June 29, 2023 | Blogs
*James Hardman contributed to this article while working as a summer associate at FBT. James is not ...
June 8, 2023 | Blogs
As the United States has steadily increased enforcement against U.S. citizens and residents with for...
June 2, 2023 | Blogs
In a recent email notification to taxpayers filing Kentucky Public Service Company (“PSC”) tax r...
May 30, 2023 | Blogs
Religious institutions received a victory this month regarding property tax exemptions under Section...
May 23, 2023 | Blogs
This article was originally published by The Waterways Journal in April 2023. As this time of ye...
May 17, 2023 | Blogs
The Inflation Reduction Act (Pub. L. No. 117-169 (the “IRA” or the “Act”)) has brought signi...
May 16, 2023 | Blogs
The West Virginia Legislature in the 2021 regular session approved H.J.R. 3, the Property Tax Modern...
May 10, 2023 | Blogs
This article was originally published in Law360 Expert Analysis. Kentucky H.B. 360 went through qu...
May 1, 2023 | Blogs
The recent comprehensive retirement plan legislation, often called SECURE 2.0, made an important cha...
April 20, 2023 | Publications
Our overview of Division T of the Consolidated Appropriations Act, titled “The SECURE 2.0 Act of 2...
April 6, 2023 | Blogs
This article was originally published in Law360 Expert Analysis. H.B. 33 establishes the state of Oh...
April 5, 2023 | Publications
The Kentucky Legislature recently enacted, after many years on the table, limited sports betting. 20...
March 24, 2023 | Blogs
Kentucky Governor Andy Beshear recently signed a bill that will provide more certainty for annual pr...
March 22, 2023 | Blogs
Many individuals have accumulated significant funds in their individual retirement accounts (IRAs), ...
March 21, 2023 | Publications
On February 27, the Internal Revenue Service (IRS) issued proposed regulations on when and how forfe...
March 16, 2023 | Blogs
*This article was originally published in Bloomberg Tax. There were reportedly more than 11.5 mill...
March 16, 2023 | Blogs
On March 7, 2023, the Internal Revenue Service (IRS) released Notice 2023-23, which provides guidanc...
March 13, 2023 | Blogs
The most discussed issue during West Virginia 2023 Legislative Session was Governor Jim Justice’s ...
March 13, 2023 | Publications
The Inflation Reduction Act of 2022 (the “IRA” or “Act”) presents an opportunity to signific...
March 10, 2023 | Blogs
This article was originally published in Law360’s Tax Authority Expert Analysis. In 2022, Ke...
March 8, 2023 | Blogs
On February 13, 2023, the U.S. Treasury Department, together with the U.S. Department of Energy (DOE...
March 8, 2023 | Blogs
Many CPAs and lawyers do not know the difference between conduct that is tax avoidance versus conduc...
March 7, 2023 | Blogs
The Indiana General Assembly unanimously passed its first enacted law of the 2023 legislative sessio...
March 1, 2023 | Blogs
This article was republished in the Employee Relations Law Journal. Many union employers agree to co...
February 28, 2023 | Blogs
This article was originally published in Law360’s Expert Analysis. On Jan. 6, Ohio Gov. Mike D...
February 24, 2023 | Blogs
As discussed at length in our prior article, Kentucky has been toying with the idea of eliminating o...
February 24, 2023 | Blogs
This article was republished in the Employee Relations Law Journal. If tax regulations proposed by t...
February 7, 2023 | Publications
While some of us were busy with holiday celebrations and planning for the new year, Congress passed ...
January 30, 2023 | Blogs
It’s property tax time again, and in the Commonwealth, the Kentucky Department of Revenue (the “...
January 23, 2023 | Blogs
Kentucky saw significant movement towards tax reform during the 2022 regular legislative session. Wh...
January 4, 2023 | Blogs
In the first article of our Distillery Start-Up and Compliance series, we focused on giving distille...
December 29, 2022 | Blogs
The Kentucky General Assembly took its first big steps in eliminating the Kentucky individual income...
December 16, 2022 | Blogs
On December 15, 2022, the Kentucky Supreme Court handed a major win to Kentucky manufacturing taxpay...
December 16, 2022 | Blogs
This article originally ran in Law360’s Tax Authority. As the year winds down, many taxpayer...
December 16, 2022 | Blogs
One effect of the COVID-19 lockdown was a shift in consumer appetites. The more time consumers spent...
December 6, 2022 | Blogs
This article was originally published in Law360 Tax Authority. On Sept. 26, Ohio’s Cuyahoga Co...
November 18, 2022 | Publications
On October 21, 2022, the Internal Revenue Service issued the cost-of-living adjustments for contribu...
November 14, 2022 | Blogs
Individuals in the employee benefits space are used to dealing with year-end benefit plan amendments...
October 14, 2022 | Blogs
A Brief Recent History of Federal Estate Taxes Prior to the effective date of the Tax Cuts and Jobs ...
October 7, 2022 | Blogs
On June 24, 2022, the U.S. Supreme Court decided in Dobbs v. Jackson Women’s Health Organization t...
October 6, 2022 | Qualified Small Business Stock (QSBS)
There are numerous tax and business issues associated with equity compensation planning for employee...
September 30, 2022 | Blogs
On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the “Act...
September 28, 2022 | Blogs
We continue with our review of executive power and tax changes in part three of this series (check o...
September 16, 2022 | Blogs
With the separation of power principle in mind, which we explained in part one of this series, let...
September 13, 2022 | Blogs
This article was originally published in Law360’s Tax Authority. There is no greater beast f...
September 12, 2022 | Qualified Small Business Stock (QSBS)
Section 1202 allows stockholders to claim a minimum $10 million federal income tax gain exclusion in...
September 9, 2022 | Blogs
The three branches of government—executive, legislative, and judicial—at both the state and fede...
September 8, 2022 | Blogs
A domestic asset protection trust (a “DAPT”) is a type of irrevocable trust, allowable under sta...
August 25, 2022 | Blogs
*This article was original published by Law360 Tax Authority. Over two years after the onset of the ...
August 19, 2022 | Blogs
The Internal Revenue Service (IRS) recently published Notice 2022-33, extending the deadlines for am...
July 19, 2022 | Blogs
This article was published in Law360 Tax Authority. In a legislative session in which the Kentucky G...
June 3, 2022 | Blogs
On June 1, 2022, the Ohio Senate unanimously passed House Bill (HB) 515, which specifies two situati...
May 27, 2022 | Blogs
This article was originally published in Law360 Tax Authority. On April 21, Ohio Gov. Mike DeWine s...
May 18, 2022 | Blogs
This article was originally published in Law360 Tax Authority. Prior to the 2022 Kentucky legislati...
May 17, 2022 | Qualified Small Business Stock (QSBS)
During the past several years, there has been a marked increase across the country in the use of C c...
May 13, 2022 | Qualified Small Business Stock (QSBS)
When Section 1202 was enacted in 1993, a 50% gain exclusion applicable to the sale of qualified smal...
April 25, 2022 | Blogs
This article was originally published in Tax Notes. The West Virginia Legislature’s 2022 regular s...
April 20, 2022 | Blogs
The federal Opportunity Zone tax incentive program has facilitated substantial new investment in des...
April 19, 2022 | Tax Law Defined™ Blog
Section 1045 allows stockholders to reinvest on a pre-tax basis, proceeds from the sale of qualified...
April 19, 2022 | Tax Law Defined™ Blog
Section 1045 allows stockholders to reinvest on a pre-tax basis, proceeds from the sale of qualified...
April 19, 2022 | Tax Law Defined™ Blog
A stockholder must hold qualified small business stock (QSBS) for more than five years in order to c...
April 1, 2022 | Blogs
This article was originally published in Law360 Tax Authority. After making its way through the Ohi...
March 31, 2022 | Blogs
The Taxpayer Advocate Service recently released the National Taxpayer Advocate’s 2021 Annual Repor...
March 30, 2022 | Blogs
Last week, the Kentucky General Assembly passed 2022 House Bill (HB) 500, which will boost Kentucky...
March 29, 2022 | Blogs
Indiana recently enacted a state Affordable and Workforce Housing Tax Credit (the “Affordable Hous...
March 9, 2022 | Blogs
This article was originally published in Law360 Tax Authority. When the Louisville Metro Revenue Com...
March 8, 2022 | Blogs
While the Kentucky General Assembly debates passing significant tax reform legislation during the 20...
March 3, 2022 | Publications
Kentucky is in the midst of a potential solar boom with over 30 projects filed with the Electric Gen...
February 25, 2022 | Blogs
Following the Tax Foundation and Kentucky Chamber of Commerce’s report published this winter detai...
February 16, 2022 | Blogs
We have discussed in previous articles the potential benefits of operating a start-up as a C corpora...
February 11, 2022 | Blogs
While Kentucky local tax reform has been on the legislative agenda for decades in the Commonwealth, ...
January 26, 2022 | Qualified Small Business Stock (QSBS)
Section 1202 allows taxpayers to exclude gain on the sale of QSBS if all eligibility requirements ar...
January 24, 2022 | Blogs
The Kentucky Department of Revenue (the “Department”) administers the central assessment of all ...
January 20, 2022 | Publications
On December 21, 2021, the Department of Labor (DOL) issued a Supplemental Statement clarifying earli...
January 7, 2022 | Blogs
The Ohio General Assembly passed House Bill 228, which will change the way municipal net profits tax...
January 6, 2022 | Blogs
House Bill 176, introduced by Rep. Ken Fleming (R) on the first day of the 2022 Kentucky Legislative...
December 18, 2021 | Publications
Tax increment finance (TIF) legislation continues to evolve in many states within the Frost Brown To...
December 14, 2021 | Blogs
Being from Kentucky, there are few things we know (or do) better than bourbon. Virtually from birth,...
December 1, 2021 | Blogs
This article was originally published in Law360 Tax Authority. Ohio H.B. 126, which proposes to mod...
November 3, 2021 | Blogs
On September 13, 2021, legislation emerged from the House Ways and Means Committee that included an ...
October 27, 2021 | Publications
On October 13, 2021, the Department of Labor (DOL) released its proposed “Prudence and Loyalty in ...
October 26, 2021 | Blogs
In our previous articles, we have considered various reporting and tax implications associated with ...
October 21, 2021 | Blogs
In June, Senators Charles Grassley and Angus King introduced the Accelerating Charitable Efforts Act...
October 14, 2021 | Blogs
Tax distributions provided for in a shareholder agreement of an S Corporation or in an operating agr...
October 12, 2021 | Blogs
With a market cap of $2.4 trillion and revenue of $275 billion in 2020, Apple, Inc. (“Apple”) is...
October 7, 2021 | Blogs
This article was originally published in Law360 Tax Authority. With a market cap of $2.4 trillion a...
September 30, 2021 | Qualified Small Business Stock (QSBS)
The number of private companies electing to go public through a transaction (referred to in this art...
September 29, 2021 | Qualified Small Business Stock (QSBS)
This article addresses the consequences of “transfers at death” of qualified small business stoc...
September 27, 2021 | Blogs
On August 31, 2021, the Pandemic Response Accountability Committee (PRAC) released its report detail...
September 16, 2021 | Blogs
When Congress enacted Section 1202, it noted that the gain exclusion was intended to “encourag...
September 13, 2021 | Blogs
While the boom of cryptocurrency in the United States has led to several developments and changes to...
September 3, 2021 | Qualified Small Business Stock (QSBS)
Congress enacted Section 1202[i] based on the premise that the possibility of a $10 million gain exc...
September 3, 2021 | Qualified Small Business Stock (QSBS)
This article addresses the importance of having bona fide (non-federal income tax) business and pers...
September 2, 2021 | Publications
The Department of Labor (DOL) issued “temporary implementing FAQs” on July 26, 2021. The FAQs cl...
September 2, 2021 | Blogs
This article was originally published in Law360 Tax Authority. Kentucky’s sales and use tax e...
September 2, 2021 | Blogs
The U.S. solar energy industry has experienced huge growth in recent years. More companies are enter...
August 4, 2021 | Blogs
Ohio Senate Bill (SB) 57 was signed into law on April 27, 2021 by Governor Mike DeWine. Among other ...
July 30, 2021 | Blogs
As the world transitions out of COVID-19 lockdown, one of the most visible pandemic trends in the pr...
July 26, 2021 | Blogs
This article was originally published in Tax Notes. H.B. 2581, passed during the 2021 regular sessio...
July 20, 2021 | Blogs
In December 2020, Ohio Governor Mike DeWine signed Senate Bill 39, which created a new insurance pre...
July 13, 2021 | Blogs
The Paycheck Protection Program (PPP) was introduced with the CARES Act in 2020 in an effort to assi...
July 2, 2021 | Blogs
In what was a whirlwind of a shorter than normal 2021 regular session, the General Assembly had the ...
June 24, 2021 | Blogs
As discussed at length in my prior article (KY Passes New Tax Breaks for Cryptomining), Kentucky rec...
June 16, 2021 | Blogs
On June 1, 2021, the Tennessee Department of Revenue published Letter Ruling # 21-05,[1] providing n...
June 15, 2021 | Publications
On May 18, 2021, the Internal Revenue Service (IRS) released Notice 2021-31 (“Notice”), a set of...
June 12, 2021 | Blogs
While approximately 100 environmental rules and policies were rolled back or altered during the econ...
June 6, 2021 | Blogs
The tobacco industry has always been complicated from a tax and regulatory standpoint, but recent an...
June 3, 2021 | Blogs
In our previous article, we discussed the increasing problem of cybersecurity breaches resulting in ...
June 1, 2021 | Blogs
In our December and February Kentucky Tax Talk articles, we covered what to watch for going into the...
June 1, 2021 | Blogs
This article was originally published in Law360 Tax Authority. One company’s garbage is another c...
May 21, 2021 | Qualified Small Business Stock (QSBS)
During the past several years, there has been a marked increase across the country in the use of C c...
May 18, 2021 | Blogs
The shutdown of worksites and childcare facilities in 2020 presented many challenges for both employ...
May 14, 2021 | Blogs
On May 6, 2021, the U.S. Department of Labor (DOL) issued a final rule that withdraws a Trump-era ap...
May 12, 2021 | Blogs
On April 14, 2021, the U.S. Department of Labor (DOL) issued guidance on cybersecurity for employee ...
May 11, 2021 | Blogs
The American Rescue Plan Act of 2021 (ARPA) was enacted on March 11, 2021. Among its many provisions...
May 3, 2021 | Blogs
The Department of Labor (DOL) recently issued four model notices that employers can use to provide t...
April 30, 2021 | Blogs
While the development of solar and alternative energy continues to grow in the United States, with i...
April 16, 2021 | Blogs
Beginning in March 2020, pandemic-driven lockdowns, home quarantines, and general isolation made it ...
April 15, 2021 | Qualified Small Business Stock (QSBS)
During the past several years, there has been a marked increase across the country in the use of C c...
April 13, 2021 | Blogs
The most discussed issue during West Virginia’s 2021 legislative session was the proposed repeal o...
April 9, 2021 | Blogs
Like the federal government and other states, Ohio grants nonprofit organizations the benefit of cer...
April 5, 2021 | Blogs
The choice of entity decision is a critical step in every company’s life cycle. At its onset, a bu...
April 1, 2021 | Blogs
In Announcement 2021-7 issued on March 26, 2021, the IRS announced that amounts paid for personal pr...
March 29, 2021 | Blogs
Kentucky has long been considered a national leader in the manufacturing industry given its low cost...
March 24, 2021 | Qualified Small Business Stock (QSBS)
Synopsis The distribution of a C corporation’s assets to its shareholders often triggers a hea...
March 17, 2021 | Blogs
In his 2021 State of the State Address, West Virginia Governor Jim Justice proposed a repeal of the ...
March 17, 2021 | Blogs
With a shorter than usual legislative session, an outstanding budget for the 2022 fiscal year, and s...
March 10, 2021 | Blogs
On January 13, 2021, the IRS posted final Treasury Regulations for Section 1061 of the Internal Reve...
March 10, 2021 | Blogs
Hedge fund, private equity and real estate professionals are often compensated through the grant of ...
March 5, 2021 | Blogs
In the wake of the COVID-19 pandemic, many businesses and government agencies have made changes to a...
February 22, 2021 | Blogs
Only the issuance of “stock” triggers the running of Section 1202’s five-year hold...
February 19, 2021 | Qualified Small Business Stock (QSBS)
Many M&A transactions are structured to include a rollover of some percentage of the target comp...
February 12, 2021 | Blogs
This blog post summarizes the steps an employer must take if it wants to appeal an assessment of wit...
February 11, 2021 | Blogs
Pension plan and 401(k) plan fiduciaries, including employers who are the plan administrators under ...
February 11, 2021 | Blogs
It’s that special time of year again, tax season. When it comes to filing income taxes, many taxpa...
February 10, 2021 | Blogs
Published reports suggest that many businesses, including HBO, Xerox, Garmin, ExecuPharm and several...
February 4, 2021 | Publications
The valuation of a private company’s stock is central to the operation of an employee stock owners...
February 4, 2021 | Blogs
To say that 2020 was a year that brought about many changes would be an understatement, and many pan...
January 28, 2021 | Qualified Small Business Stock (QSBS)
During the 21st century, financial buyers such as private equity sponsors (PE firms) have dramatical...
January 28, 2021 | Blogs
Given the projected loss in tax revenue in 2020, and beyond, due to the COVID-19 pandemic, states ar...
January 27, 2021 | Qualified Small Business Stock (QSBS)
A typical part of the sale of a business is the rollover of some equity by the target company’...
January 22, 2021 | Blogs
When the federal government released its Paycheck Protection Program (PPP) in March 2020 as a part o...
January 19, 2021 | Publications
On December 29, 2020, Ohio Governor Mike DeWine signed Senate Bill 39, creating a new tax credit app...
January 15, 2021 | Blogs
The Coronavirus Aid, Relief and Economic Security (CARES Act), signed into law on March 27, establis...
January 15, 2021 | Blogs
Imagine that you are the chief financial officer of an aftermarket automotive parts company named Su...
January 13, 2021 | Blogs
At 5,593 pages, the Consolidated Appropriations Act, 2021 (“Act”) is the longest bill ever passe...
January 11, 2021 | Blogs
Recently, Bloomberg Tax & Accounting released its 2020 Trust Nexus Survey gathering states’ va...
January 11, 2021 | Blogs
This article was originally published in Tax Notes. Since 2015, various natural gas producers have p...
January 5, 2021 | Blogs
President Trump’s recent veto and the subsequent override aside, the National Defense Authorizatio...
January 4, 2021 | Blogs
For companies seeking to attract and retain key employees, there often comes a time when discussions...
December 22, 2020 | Blogs
State legislatures, like the rest of us, could never have predicted how 2020 would unfold. Kentucky ...
December 3, 2020 | Blogs
On Sept. 29, the Supreme Court of Ohio released its decision in Defender Security Co. v. McClain[1] ...
November 30, 2020 | Blogs
On November 10, 2020, the U.S. Supreme Court heard oral arguments (via teleconference) on the latest...
November 19, 2020 | Blogs
In Antero Resources Corporation v. Dale W. Steager, State Tax Commissioner of West Virginia, Case No...
November 18, 2020 | Blogs
A federal district court recently called investments in private companies that participate in a mult...
November 13, 2020 | Blogs
Many small businesses are structured as pass-through entities for federal income tax purposes.[1] We...
October 26, 2020 | Qualified Small Business Stock (QSBS)
Beware of Mixing Section 1202’s Version of Oil and Water – S Corporations and QSBS Our Section 1...
October 21, 2020 | Blogs
This article was originally published in Law360 Tax Authority. On Aug. 31, Kentucky Gov. Andy Beshe...
October 16, 2020 | Blogs
End of Year Landscape As we approach the end of 2020, several factors in this historic year signal a...
October 2, 2020 | Blogs
In Notice 2020-68 (Notice), the Internal Revenue Service (IRS) provided guidance on several provisio...
September 25, 2020 | Blogs
The IRS recently updated the tax notice, “Your Rollover Options,” which 401(k) and other qualifi...
September 21, 2020 | Blogs
This article was originally published in Law360 Tax Authority. The drop-down LLC transaction has be...
September 18, 2020 | Blogs
Every state provides several state and local tax exemptions, credits, abatements and incentives for ...
September 18, 2020 | Qualified Small Business Stock (QSBS)
With the corporate tax rate reduced from 35% to 21%, we have experienced a heightened awareness that...
September 4, 2020 | Blogs
On August 31, 2020, Governor Andy Beshear signed an Executive Order to restructure the Public Protec...
September 2, 2020 | Blogs
The Department of Treasury recently released guidance, Notice 2020-65, to clarify President Trump’...
August 31, 2020 | Blogs
Now more than ever, companies and organizations are evolving to allow employees to work from home. S...
August 27, 2020 | Blogs
This article was originally published in Law360 Tax Authority. Since Gov. Andy Beshear’s decl...
August 20, 2020 | Blogs
The IRS has now answered many of the new questions raised after the Coronavirus Aid, Relief, and Eco...
August 14, 2020 | Blogs
Many areas of life have slowed down, and in some cases come to a complete halt, because of the COVID...
August 13, 2020 | Blogs
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a relief package in response to ...
August 13, 2020 | Blogs
As employers look for ways to reduce expenses or address cash flow issues, many are considering a re...
August 11, 2020 | Blogs
In Notice 2020-46 (the “Notice”), the Internal Revenue Service (IRS) created a new avenue for em...
August 5, 2020 | Qualified Small Business Stock (QSBS)
With the corporate federal income tax rate reduced from 35% to 21%, there is a renewed interest in c...
August 3, 2020 | Blogs
On June 29, 2020, the U.S. Department of Labor (DOL) proposed a new prohibited transaction exemption...
July 22, 2020 | Blogs
In a recent Information Letter (the “Letter”), the Department of Labor (DOL) clarified that defi...
July 21, 2020 | Blogs
A plan investment policy statement (IPS) is a written statement intended to provide a plan’s inves...
July 20, 2020 | Blogs
The Trump administration has just issued a new proposed rule which, if finalized, will provide great...
July 16, 2020 | Blogs
Two bills from the House of Representatives (H.R.2, the Moving Forward Act, and H.R.3967, the Munici...
July 10, 2020 | Blogs
Since its inception, the Affordable Care Act (ACA), also known as Obamacare, has been challenged for...
June 29, 2020 | Blogs
As the economy starts to open, sellers of businesses are uniquely positioned to potentially capture ...
June 24, 2020 | Coronavirus Response Team
Executive employment contracts and compensation have been more heavily scrutinized for the last coup...
June 22, 2020 | Blogs
In response to the ongoing COVID-19 pandemic, the Internal Revenue Service (“IRS”) recently issu...
June 22, 2020 | Blogs
This article was originally published in Law360 Tax Authority. All employers, whether private corpor...
June 12, 2020 | Coronavirus Response Team
Proper Calculation of Qualified Health Plan Expenses Eligible for Sick and Family Medical Leave Tax ...
June 2, 2020 | Blogs
This article was originally published in Thomson Reuters Journal of Multistate Taxation and Incentiv...
June 2, 2020 | Blogs
As with many things in life and business, timing is important. The same was true with regards to the...
June 1, 2020 | Coronavirus Response Team
As states continue to enforce and extend stay-at-home executive orders, and many businesses opt to a...
May 27, 2020 | Blogs
The Internal Revenue Service (IRS) released Notices 2020-29 and 2020-33 (Notices) on May 12, 2020. T...
May 19, 2020 | Blogs
Navigating through recapitalizations, reorganizations, stock splits, reverse stock splits, tax free ...
May 8, 2020 | Qualified Small Business Stock (QSBS)
In an earlier article titled “Rollover Equity Transactions 2019,” we discussed the vario...
May 7, 2020 | Blogs
Employers, insurers and benefit plan vendors are all impacted by new guidance issued by the Departme...
May 1, 2020 | Coronavirus Response Team
While the Paycheck Protection Program (PPP) created by the federal CARES Act in response to the COVI...
April 30, 2020 | Blogs
Due to the coronavirus pandemic, the Internal Revenue Service extended the restatement deadlines for...
April 29, 2020 | Blogs
The commonwealth’s primary concerns have drastically changed since the start of the 2020 General A...
April 21, 2020 | Blogs
“When written in Chinese, the word crisis is composed of two characters – one represents danger ...
April 20, 2020 | Blogs
While the CARES Act offers significant benefits to business owners in hard-hit industries, this comp...
April 20, 2020 | Blogs
While the CARES Act offers significant benefits to business owners in hard-hit industries, this comp...
April 20, 2020 | Blogs
This article was originally published in Tax Notes. Before 2020, West Virginia provided no tax incen...
April 16, 2020 | Blogs
Authority and Role of Department of Revenue’s Interpretation of the Law One of the basic rules you...
April 16, 2020 | Blogs
The Coronavirus Aide, Relief and Economic Security Act (CARES Act) provides businesses with various ...
April 14, 2020 | Blogs
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...
April 13, 2020 | Blogs
As U.S. taxpayers grapple with impacts of the COVID-19 disruption, Congress continues to offer relie...
April 10, 2020 | Coronavirus Response Team
Tennessee has joined the ranks of states allowing remote witnessing and notarization of wills and ot...
April 8, 2020 | Blogs
Code section 139 excludes from taxable income “qualified disaster relief payments” made to reimb...
April 8, 2020 | Blogs
The Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief and Economic Securit...
April 7, 2020 | Blogs
In the wake of the recent global pandemic, many clients have reached out to the Frost Brown Todd tax...
April 3, 2020 | Blogs
In the wake of the coronavirus disruption, taxing authorities across the United States are adjusting...
April 1, 2020 | Coronavirus Response Team
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...
April 1, 2020 | Blogs
On March 18, 2020, the president signed the Families First Coronavirus Response Act (H.R. 6201, the ...
March 31, 2020 | Blogs
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...
March 27, 2020 | Blogs
When a married individual dies, every state has laws granting certain rights to the decedent’s sur...
March 27, 2020 | Blogs
Following the U.S. Senate’s approval of the CARES Act granting federal aid in response to the COVI...
March 27, 2020 | Blogs
The sweeping changes brought about by Ohio’s Novel Coronavirus Response Bill will directly affect ...
March 27, 2020 | Blogs
The House gave final passage to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)....
March 27, 2020 | Blogs
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...
March 27, 2020 | Blogs
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...
March 25, 2020 | Coronavirus Response Team
As businesses continue to grapple with how to best navigate the economic climate following the COVID...
March 25, 2020 | Blogs
As the coronavirus or COVID-19 outbreak has impacted almost every part of American business, many ow...
March 24, 2020 | Coronavirus Response Team
This alert focuses on whether, in the throes of the COVID-19 pandemic, plan sponsors can amend their...
March 23, 2020 | Coronavirus Response Team
With the turmoil and uncertainty surrounding the COVID-19 outbreak in the United States, it is impor...
March 23, 2020 | Coronavirus Response Team
As the COVID-19 pandemic continues, employers of all sizes are making difficult decisions about th...
March 23, 2020 | Coronavirus Response Team
While COVID-19 continues to cause panic across the United States, the federal government is not the ...
March 18, 2020 | Coronavirus Response Team
While many employers are closing their doors to stem the spread of the COVID-19 virus, other employe...
March 18, 2020 | Coronavirus Response Team
As COVID-19 continues on, more and more businesses and employers are either authorizing or requiring...
March 17, 2020 | Coronavirus Response Team
As the coronavirus pandemic evolves, the Federal Government is continuing to offer relief that will ...
March 17, 2020 | Coronavirus Response Team
Compliance concerns related to the Health Insurance Portability and Accountability Act (HIPAA), the ...
March 13, 2020 | Coronavirus Response Team
As the country is hit with a wave of event cancellations, school closures, and work-from-home direct...
March 10, 2020 | Blogs
As part of the Tax Cuts and Jobs Act of 2017 (“2017 Tax Act”), Congress created several headache...
March 2, 2020 | Coronavirus Response Team
Employers are in search of ways to help employees who have been severely and unexpectedly impacted i...
February 28, 2020 | Blogs
On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SEC...
February 21, 2020 | Blogs
Following the November Kentucky gubernatorial election, and the start of a new administration, the n...
February 17, 2020 | Qualified Small Business Stock (QSBS)
This article is a guide for investors and fund sponsors who purchase, own and sell qualified small b...
February 4, 2020 | Blogs
When the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) became law o...
January 31, 2020 | Blogs
Should an owner conduct business in an entity taxed as a partnership or a corporation is a frequentl...
January 22, 2020 | Blogs
Now more than ever, businesses are focused on their environmental impact and sustainability goals. T...
January 17, 2020 | Tax Law Defined™ Blog
This article is one of a series addressing planning issues relating to qualified small business stoc...
January 10, 2020 | Blogs
As part of the bill funding the federal government through next September, the Setting Every Communi...
January 6, 2020 | Blogs
A divided Sixth Circuit Court of Appeals panel ruled in the case of In re FirstEnergy Solutions Cor...
January 6, 2020 | Publications
Employers are required to annually report to the IRS all Incentive Stock Option (ISO) exercises and ...
December 20, 2019 | Blogs
In our October article, we discussed the 2019 Kentucky gubernatorial candidates’ respective plans ...
December 19, 2019 | Blogs
A recent Ohio Ninth District Court of Appeals’ decision in Karvo Paving Co. v. Testa[1] addressed ...
November 21, 2019 | Blogs
Revisiting Holding the Carried Interest Through an S Corporation Eighteen months ago, we published a...
November 12, 2019 | Blogs
401(k) Limits Increased for 2020 On November 6, 2019, the Internal Revenue Service issued the cost o...
November 1, 2019 | Qualified Small Business Stock (QSBS)
A basic checklist of qualification requirements to help business owners and tax professionals consid...
October 31, 2019 | Blogs
On October 23, 2019, the Department of Labor (DOL) published a proposed rule outlining a new safe ha...
October 30, 2019 | Blogs
Introduction Tax legislation enacted this Spring and last in Kentucky is but the latest enhancement ...
October 23, 2019 | Blogs
On September 23, 2019, the IRS issued final regulations regarding hardship withdrawals from 401(k) P...
October 23, 2019 | Blogs
Last year was the year of significant tax reform in Kentucky, and 2019 is the year of clean-up (with...
October 7, 2019 | Blogs
This article was originally published in Tax Notes. On March 27 Gov. Jim Justice (R) signed two bill...
October 2, 2019 | Blogs
Planting the Seed – How the Hemp Industry Began to Bloom Few products have ever taken the market b...
October 1, 2019 | Blogs
A lot has changed in the state and local tax world after the 2018 Wayfair[1] decision which finally ...
September 30, 2019 | Blogs
Nexus is nearly an impossible concept to grasp in most state and local tax (SALT) contexts as states...
July 16, 2019 | Blogs
An employer which participates in an underfunded multiemployer pension plan should request an estima...
July 16, 2019 | Publications
It isn’t unusual for shareholders holding vested stock in their target company to roll the sto...
July 9, 2019 | Blogs
On May 23, 2019, the U.S. House of Representatives passed the “Setting Every Community Up for Reti...
July 3, 2019 | Blogs
Kentucky’s 2018 Regular Session of the General Assembly brought sweeping changes to the state’s ...
June 17, 2019 | Blogs
Under IRC § 199A, some businesses that are not C corporations can claim an income tax deduction equ...
June 14, 2019 | Blogs
Hedge fund, private equity and real estate professionals value the carried interest because it allow...
June 7, 2019 | Blogs
In 2017, the IRS eliminated the ability of sponsors of individually-designed qualified retirement pl...
May 30, 2019 | Blogs
Despite being separate and distinct from “family law,” estate planning techniques and strategies...
May 24, 2019 | Qualified Small Business Stock (QSBS)
Why are tax opinions especially relevant today? Recent changes in the tax laws have left taxpayers a...
May 22, 2019 | Blogs
The Importance of Tax Regulations and its Critical Role After Kentucky’s Recent Tax Reform As ...
May 22, 2019 | Blogs
Kentucky legislative sessions are always full of twists, turns, and surprises. The 2018 Regular Sess...
April 29, 2019 | Blogs
Are You Withholding Too Much on Nonqualified Deferred Compensation? If you have a nonqualified defer...
April 19, 2019 | Blogs
Kentucky taxpayers now have access to the state’s Department of Revenue (DOR) tax rulings. The cas...
April 12, 2019 | Blogs
As a part of the generational legislation on Kentucky tax passed last April via 2018 HB 486, the Gen...
April 12, 2019 | Blogs
Now is a good time for employers to review their COBRA procedures or check with their COBRA vendors ...
April 8, 2019 | Blogs
This article was originally published in Tax Notes. Since the U.S. Supreme Court’s Quill[1] decisi...
April 3, 2019 | Qualified Small Business Stock (QSBS)
I recently published an article focusing on the choice of entity decision for main street businesses...
April 3, 2019 | Blogs
On March 7, 2019, the IRS issued Notice 2019-18, which walked back its prohibition on offering retir...
March 29, 2019 | Blogs
Most closely held business owners recognize that a properly drafted and current buy-sell agreement ...
March 10, 2019 | Publications
What is an employee stock ownership plan (ESOP)? An ESOP is a means of providing an identity of in...
February 2, 2019 | Blogs
The importance of regulations in the world of tax is often overlooked, but in many cases, regulation...
January 2, 2019 | Qualified Small Business Stock (QSBS)
During the past year, numerous articles have summarized and analyzed the changes made by the Tax Cut...
August 30, 2018 | Blogs
Equity compensation (including options to purchase stock or LLC units, restricted stock or units, ...
August 20, 2018 | Qualified Small Business Stock (QSBS)
Under IRC § 1202, 100% of gain on the sale of QSBS acquired after September 27, 2010, is generally ...
July 31, 2018 | Blogs
Tax reform in 2017 increased the exemption against the federal estate tax from about $5,600,000 to...
July 26, 2018 | Blogs
During the past decade, private equity investors and other financial buyers (referred to generally...
July 19, 2018 | Blogs
This article, authored by Frost Brown Todd's Mark Sommer, was originally published in Law360, and ...
July 16, 2018 | Blogs
Department of Labor (DOL) published its Final Rule, adding the new Section 2510.3-5 to CFR Title 2...
June 11, 2018 | Blogs
This article was originally published in Tax Notes. In 2008 West Virginia began offering tax credits...
April 24, 2018 | Blogs
Investment fund managers value compensation in the form of carried interests, which allows them to ...
March 28, 2018 | Blogs
A multiemployer/union benefit plan is a plan that two or more employers contribute to under the te...
March 22, 2018 | Blogs
Beginning April 1, 2018, employers will need to be prepared to address Department of Labor (DOL) f...
March 12, 2018 | Qualified Small Business Stock (QSBS)
The 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”) ushered in several benefits for C corporatio...
February 26, 2018 | Blogs
During the past decade, the White House, Congress and the IRS have threatened on numerous occasions ...
February 23, 2018 | Blogs
The Tax Cuts and Jobs Act of 2017 created a new community development program that provides capita...
February 5, 2018 | Blogs
This article was originally published in Tax Notes. In the recent case of Matkovich v. CSX Transport...
February 5, 2018 | Blogs
Taxpayers who qualify for the IRC § 199A deduction (the “Deduction”) will be one of the...
January 22, 2018 | Qualified Small Business Stock (QSBS)
In the aftermath of the 1986 tax act and the introduction of LLCs, pass-through entities (LLC and S ...
December 21, 2017 | Publications
New laws governing IRS partnership audits (the “New Audit Rules”) were enacted during 2015 and a...
October 18, 2017 | Blogs
October 12, 2017, was an eventful day for the Affordable Care Act (ACA) because of two executive o...
August 3, 2017 | Blogs
The administration of hardship distributions can be one of the most significant burdens employers ...
July 31, 2017 | Blogs
Unanimous decision turns on reading of the language of the statute.
July 21, 2017 | Blogs
Open enrollment for employer-sponsored health and welfare benefits comes every year, usually with ...
July 6, 2017 | Blogs
When a participating employer stops contributing to, or stops having a bargaining agreement obligati...
March 21, 2017 | Blogs
Financial institutions and investment advisors have little certainty about compliance timing.
March 7, 2017 | Blogs
The Department of Health and Human Services (HHS) released final regulations on Section 1557 of the ...
November 9, 2016 | Blogs
Payments under an Opt-Out Arrangement are included in the Health Coverage Affordability Calculatio...
October 5, 2016 | Blogs
At the end of July 2016, the Department of Labor (DOL), Internal Revenue Service (IRS), and Pensio...
September 12, 2016 | Blogs
In May of this year, the Equal Employment Opportunity Commission (EEOC) issued final rules on how ...
September 6, 2016 | Blogs
After several rounds of proposals, the Department of Labor (DOL) published final regulations in th...
June 8, 2016 | Blogs
On May 4, 2016, the federal government issued new temporary and proposed regulations that address ...
May 23, 2016 | Blogs
Last week, the Equal Employment Opportunity Commission (EEOC) released its final rules regarding w...
May 11, 2016 | Blogs
As you probably know by now, the Affordable Care Act (ACA) deadline for filing Forms 1094-C and 10...
June 27, 2015 | Blogs
2.01 Introduction Being born and raised in Kentucky, there are few things we know (or do) better tha...
May 22, 2015 | Blogs
In a unanimous decision issued on May 18th, the United States Supreme Court held that employers ha...
May 5, 2015 | Blogs
On April 1, 2015, Kentucky Governor Steve Beshear signed into law House Bill 440, which includes s...
January 12, 2015 | Blogs
Beginning January 1, 2015, employers have burdensome new reporting obligations for health plan cov...
November 27, 2014 | Blogs
In follow-up to Part I of this article which covered the Federal Excise Tax (“FET”) consideratio...
June 1, 2014 | Blogs
For those in the business, manufacturers, wholesalers, distributors, importers, dealers and retailer...
September 13, 2007 | Blogs
In today’s world, United States citizens regularly travel to foreign countries for vacation an...
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