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Business

Federal Agency Raises Lending Concerns Within Hemp Industry

On July 12, 2021 the U.S. Farm Credit Administration (“FCA”), the federal agency that regulates farm lending, issued an informational memorandum (“Memo”) to its network of farm credit institutions. The Memo recommends considerations when deciding whether to provide financing to farmers seeking to…

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Treasury and IRS Provide Gross Receipts Safe Harbor for Employers Claiming the CARES Act Employee Retention Credit

On Tuesday, August 10, 2021, the U.S. Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) issued Revenue Procedure 2021-33 (“RP 21-33”), which provides helpful guidance regarding the calculation of gross receipts for purposes of determining an employer’s eligibility for…

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Indiana Supreme Court Curtails Attempted Expansion of Exceptions to General Rule Regarding Successor Liability in Corporate Transactions

The Indiana Supreme Court recently issued an opinion in New Nello Operating Co., LLC v. CompressAir that clarifies the elements to be met when establishing that a buyer of a business will be liable as the successor to the obligations of the target.  Now, to fall under either of two exceptions to the…

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Governor Holcomb Signs Legislation Modifying Indiana’s Zero Tolerance Per Se Driving Law for Marijuana or Marijuana Metabolite

On April 15, 2021, Governor Eric Holcomb signed Indiana Senate Bill 201 (the “SB 201”) into law, modifying the state’s zero tolerance per se law concerning marijuana and its metabolites codified at Indiana Code Section 9-30-5-1. SB 201 provides an affirmative defense for drivers operating a motor…

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Secure and Fair Enforcement (SAFE) Banking Act Passes U.S. House…Again

On Monday, April 19, 2021, the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (the “Act”).  The legislation was reintroduced in Congress in late March through a bipartisan effort involving members of both the U.S. House of Representatives (House) and the…

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