You are doubtless aware that the failure of Congress to extend the federal estate tax and generation-skipping transfer tax system before January 1 of this year has created a great deal of uncertainty.
The nature of an individual’s tax liability will typically rely upon whether they are employed by an employer or self-employed.
The Supreme Court of Virginia recently applied and reaffirmed the rule that representations as to performance of duties imposed by contract, although unquestionably deliberate and false, only support recovery of compensatory damages based on breach of contract and not punitive damages based on fraud. Dunn Construction Company, Inc., v. Cloney, 278 Va. 260 (2009).
In the most recent legislative session, the Virginia General Assembly enacted several laws which affect health care professionals. Below is a summary of the most significant legislative acts. Each of these acts became effective on July 1, 2009.
Remora Investments, L.L.C., 277 Va. 316, 319, 673 S.E.2d 845, 845 (2009)- The Supreme Court of Virginia recently decided that a member of a limited liability company (“LLC”) cannot pursue an individual claim against a fellow member and manager of the LLC unless the manager’s duties are imposed by contract or the operating agreement of the LLC.
We are at the time of year when our thoughts turn to giving—of thanks and more tangible items. The musings here will not reflect upon charitable giving–that is for a later entry.