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On April 8, 2010, the Tax Court of Canada held that a U.S. limited liability company (LLC) was "liable to tax" in, and therefore a resident of, the Un...
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On April 8, 2010, the Tax Court of Canada held that a U.S. limited liability company (LLC) was "liable to tax" in, and therefore a resident of, the Un...
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- Champagne Metals, an Oklahoma Limited Liability Company, Plaintiff-Appellant, v. Ken-Mac Metals, Inc., an Ohio Corporation, Samuel, Son & Co., Limited, an Ontario, Canada Corporation, Samuel Specialty Metals, Inc., a New Jersey Corporation, Metalwest, L.L.C., an Alabama Limited Liability Company, Integris Metals, Inc., a New York Corporation, Earle M. Jorgensen Company, a Delaware Corporation, and Ryerson Tull, Inc., an Illinois Corporation, Defendants-Appellees., 458 F.3d 1073 (10th Cir. 2006)
Clyde A. Muchmore, Crowe & Dunlevy, Oklahoma City, OK, (D. Kent Meyers and Mark S. Grossman, Crowe & Dunlevy, Oklahoma City, OK, and Michael Burrage, ...
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This article examines the federal government's growing use of 18 USC § 1346 to prosecute public company executives for breaching their fiduciary duties. Section 1346 is a controversial but under-examined statute making it a felony to engage in a scheme "to deprive another of the intangible right of honest services." Although enacted by Congress over twenty years ago, the Supreme Court repeatedly declined to review the statute, until now. The questions before the Supreme Court are of particular interest to public company executives and their professional advisors. Traditionally, Delaware law has governed the content and enforcement of executives' legal duties, largely protecting public company fiduciaries from civil liability. Now, with the emergence of honest services fraud as a weapon ...
... Litigation Reform Act of 1995 (PSLRA), limited the rights of shareholders to file federal class a... extracted from Hollinger but, rather, from Canada, in the form of a tax benefit.415 On appeal, howev...
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- Steven G. Andrews, Plaintiff-Appellant, v. E.I. Du Pont de Nemours and Company, Defendant/Third-Party Plaintiff-Appellee, and Canada Maritime Limited, a Foreign Limited Liability Company, and Adrian Carriers, Incorporated, an Iowa Corporation, Third-Party Defendants-Appellees., 447 F.3d 510 (7th Cir. 2006)
Raymond M. Ripple (argued), E I Du Pont De Nemours & Company, Wilmington, DE, Kevin L. Halligan, Bush, Motto, Creen & Koury, Davenport, IA, Jason J. O...
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Limited liability company
Revenue Canada has ruled that US limited liability companies (LLCs) will not be eligible for treaty benefits, unlike S corporations. Revenue Canada will treat LLCs like corporations because treaty relief is available only to entities that are liable to tax in their home country and LLCs are not taxable by design. Canadian officials characterize S corporations as entities that would be taxable but for the S election. Since treaty relief is not available, LLCs can be subject to Canada's branch tax without exemption and to its withholding requirements.
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- Sprint Pcs Assets, L.L.C., a Delaware Limited Liability Company, Wholly-Owned By Sprint Telephony Pcs, L.P., a Delaware Limited Partnership, Plaintiff-Appellant, v. City of La Cañada Flintridge, a Public Entity; Stephen A. Del Guercio, in His Official Capacity as Mayor of the City of La Cañada Flintridge; Laura Olhasso, in Her Official Capacity as Mayor Pro Tem of the City of La Cañada Flintridge; Anthony J. Portantino, in His Official Capacity as Council Member of the City of La Cañada Flintridge; Gregory Brown, in His Official Capacity as Council Member of the City of La Cañada Flintridge; David A. Spence, in His Official Capacity as Council Member of the City of La Cañada Flintridge, Defendants-Appellees., 435 F.3d 993 (9th Cir. 2006)
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- Dome Petroleum Limited, a Corporation of Canada, and Dome Energy Limited, a Corporation of Canada, Appellants, v. Employers Mutual Liability Insurance Company of Wisconsin, a Mutual Insurance Company of Wisconsin, Frank Mulvey, Anthony Rotella, Teresa Helen Ernst and the First Jersey National Bank, a National Bank With Its Principal Office in New Jersey, Appellees., 767 F.2d 43 (3rd Cir. 1985)
Lee N. Abrams (argued), Lynne M. Raimondo, Mayer, Brown & Platt, Chicago, Ill., Morrill J. Cole, Steven R. Klein, Cole, Schotz, Bernstein, Meisel & Fo...
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... to fund that program, we took our limited resources and put them into programs that we felt ... we only have one agreement and that's with Canada. We are pursuing agreement with the European comm...I went to lunch with the company, the integrator, and they brought out form the bac... there I can understand from a lot of liability issues, but boy it's also a question of whether wh...
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- Sprint Pcs Assets, L.L.C., a Delaware Limited Liability Company, Wholly-Owned By Sprint Telephony Pcs, L.P., a Delaware Limited Partnership, Plaintiff-Appellant, v. City of La Cañada Flintridge, a Public Entity; Stephen A. Del Guercio, in His Official Capacity as Mayor of the City of La Cañada Flintridge; Laura Olhasso, in Her Official Capacity as Mayor Pro Tem of the City of La Cañada Flintridge; Anthony J. Portantino, in His Official Capacity as Council Member of the City of La Cañada Flintridge; Gregory Brown, in His Official Capacity as Council Member of the City of La Cañada Flintridge; David A. Spence, in His Official Capacity as Council Member of the City of La Cañada Flintridge, Defendants-Appellees., 448 F.3d 1067 (9th Cir. 2006)
