Corporate Law - Lamson Dugan & Murray LLP

26 Jun, 2024

Structuring Buy-Sell Agreements for Farmers, Ranchers & Other Business Owners Post Connelly v. United States

Staff2024-06-26T08:08:09-05:00June 26th, 2024|Corporate Law, Latest News|

In Connelly v. United States,1 the Eighth Circuit Court of Appeals (which includes Nebraska) ruled that life insurance proceeds received from company-owned life insurance (COLI) following the death of a shareholder must be considered a corporate asset in valuing the shares of the corporation’s stock held by the estate of the deceased shareholder. The ruling resulted in a circuit split with the Ninth and Eleventh Circuits, which previously ruled that [...]

11 Jun, 2024

What to Do if You Believe Your Property Tax Valuation is Too High

Hannah Junk2024-06-11T19:07:24-05:00June 11th, 2024|Corporate Law, Latest News, Tax|

Beginning in June, the final valuation for properties in Nebraska will be released. After the final valuation are released, the window for protesting the valuation begins, and it runs through July 1st. The valuation of property is important to taxpayers because it is the bases that is used to determine a taxpayer’s property tax liability. The increasing valuations leave a lot of people wondering: What can I do if I [...]

25 Jan, 2024

AI: Powerful Collaborators, but Not Managers

David Changstrom2024-01-25T11:34:59-06:00January 25th, 2024|Artificial Intelligence, Corporate Law, Latest News, Risk Management|

So warned IBM in 1979 in its internal training materials. 45 years later, artificial intelligence, at least in the news, cannot be escaped. From OpenAI’s ChatGPT large language model, to Midjourney’s text-to-image generator, the Internet abounds with tools that claim to be able to perform tasks that, until quite recently, required human creativity and spark. Is this something that we should fear? As the author is acutely aware, the creators [...]

4 Jan, 2024

Corporate Transparency Act: What You Need to Know

Staff2024-01-04T10:54:30-06:00January 4th, 2024|Corporate Formalities, Corporate Law, Latest News|

Congress passed the Corporate Transparency Act (CTA) to capture more information about the ownership of specific business entities operating in the United States. The CTA accomplishes this by requesting business entities that are deemed "reporting companies" to provide "beneficial ownership information" to the Financial Crimes Enforcement Network (FinCEN). Starting January 1, 2024, existing business entities that are required to report under the CTA have one year to make the initial [...]

30 May, 2023

What to Do if You Believe Your Property Tax Valuation is Too High

Hannah Junk2023-05-30T16:01:55-05:00May 30th, 2023|Corporate Law|

Beginning in June, the final valuation for properties in Nebraska will be released. After the final valuation are released, the window for protesting the valuation begins and ends July 1st. The valuation of property is important to taxpayers because it is the bases that is used to determine a taxpayer’s property tax liability. This blog post will discuss the timeline of property taxes and what to do if you [...]