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Business

Indiana Supreme Court Affirms Freedom of Contract Principles in Closely Held Company Valuation Case: Choose Your Words Carefully

On January 28, 2021, the Indiana Supreme Court affirmed freedom of contract principles and upheld discounts of over thirty percent in the fair market valuation of shares in a dispute over the buyback provision in a shareholder agreement among all of the shareholders of a closely held company.  In …

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2021 Hemp License Application Now Available Online

Earlier this month, the Office of the Indiana State Chemist (“OISC”) began accepting applications for licenses to commercially grow and process hemp using its new online licensing software (the “Application”). The new Application is live following approval of the Indiana State Hemp Plan (the…

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Corporate Transparency Act: New Obligations to Disclose Beneficial Ownership in Private Companies

On January 1, 2021, Congress enacted the Corporate Transparency Act (the “CTA” or the “Act”) as part of the greater National Defense Authorization Act for Fiscal Year 2021.  The CTA requires certain domestic and foreign companies to disclose beneficial ownership information to the U.S. Department of…

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Businesses That File Indiana Sales and Withholding Taxes Must Transition Accounts to New Indiana Department of Revenue System Starting September 8, 2020

Background

In early September 2019, the IDOR launched the first of four rollouts of a tax modernization project, Project NextDOR, and is launching Phase 2 this month. Project NextDOR’s new technology includes INTIME, a new online e-services portal which will enable Indiana taxpayers to manage their…

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