• Choice of Law, Designation of Forum, and Senate Bill 171

      Two provisions commonly found in commercial contracts, particularly contracts between parties that reside in different states, are a choice of law section and a designation of forum section. The choice of law section specifies which state’s laws govern the contract, and the designation of forum section specifies the court in which lawsuits that arise from the contract are to be ...

      Michael Smith/ Indiana Business Law Blog- 22 readers -
    • Tax Reform

      If you’re not aware that Congress is working on a major revision to federal tax law, you’ve not been paying much attention to the news. The House of Representatives passed its version of the Tax Cuts and Jobs Act, then the Senate passed a similar, but not identical, bill. The bill went to conference committee to work out the differences between the House and Senate versions of ...

      Michael Smith/ Indiana Business Law Blog- 19 readers -
  • Indiana Business Entity Harmonization: Part II

    [This is the second of a four-part series discussing the Business Entity Harmonization Bill passed by the Indiana General Assembly in 2017. An overview of the bill is provided in Part I.] Senate Enrolled Act 443 creates, effective as of January 1, 2018, a new Article 0.5 in Title 23 of the Indiana Code, the Uniform Business Organizations Code, that includes a number of provisi ...

    Michael Smith/ Indiana Business Law Blog- 12 readers -
  • Indiana Business Entity Harmonization: Part I

    Indiana law provides for several types of business and nonprofit entities, each of which is governed by one or more articles of Title 23 of the Indiana Code, all of which require similar filings with the Indiana Secretary of State, and all of which are capable of undergoing transactions such as ...

    Michael Smith/ Indiana Business Law Blog- 16 readers -
  • Maintaining Indiana LLCs: Part II Best Governance Practices

    Part I of this two-part series addressed requirements for maintaining an Indiana limited liability company, including the preservation of the corporate veil, that are imposed by statute or that may be imposed through the LLC’s operating agreement. Part II addresses recommended practices for maintaining Indiana LLCs that will help preserve the corporate veil (the liability shiel ...

    Michael Smith/ Indiana Business Law Blog- 15 readers -
  • Maintaining Indiana Limited Liability Companies: Part I

    Compared with corporations, limited liability companies are generally low maintenance, but not entirely maintenance free. A few requirements are imposed by statute, and the operating agreement may or may not create some additional formalities that must be observed. In addition, there are good practices that, in addition to observing the required formalities, help preserve the l ...

    Michael Smith/ Indiana Business Law Blog- 17 readers -
  • The Effects of Tax Reform on Charitable Organizations

    Although the tax reform bill just passed by the U.S. House of Representatives retains the income tax deduction for individuals who make contributions to charitable organizations (i.e., organizations that are tax exempt under Section 501(c)(3) of the Internal Revenue Code), it may nonetheless have significant effects on the amount of charitable giving by Americans.

    Michael Smith/ Indiana Business Law Blog- 10 readers -
  • In Praise of Serviceberries

    This post has nothing to do with business law but rather with one of my extracurricular interests, plants native to Indiana. Specifically, it’s about service berries, of which there are several species in the genus Amelanchier. Service berries have been at their peak this last week in central Indiana, as much as two weeks behind those in southern Indiana, and I suspect those in ...

    Michael Smith/ Indiana Business Law Blog- 14 readers -
  • No Privilege in Indiana for Unlicensed Social Workers, Part I

    Last July, the Indiana Court of Appeals decided Rogers v. State, 60 N.E.3d 256 (Ind. Ct. App. 2016), in which the attorney for a criminal defendant had deposed an employee of a charitable organization who held a degree in social work from an accredited university but not a license from the Behavioral Health and Human Services Licensing Board of the Indiana Professional Licensing Agency.

    Michael Smith/ Indiana Business Law Blog- 18 readers -
  • Can Blockchain Technology Replace Land Records?

    Fair disclosure: I am entirely unqualified to answer the above question. In fact, I had never heard of blockchain technology until this morning when I read a blog entry by my friend, John Cunningham, with a link to an article discussing four technological innovations that may affect the legal profession. One of them is blockchain, part of the techno ...

    Michael Smith/ Indiana Business Law Blog- 35 readers -
  • LLCs for Estate Planning and Keeping the Family Cabin in the Family

    It might come as a surprise to non-Hoosiers that several parts of Indiana are popular locations for vacation cabins. The best known are probably Brown County and the area around the Indiana Dunes. Other locales include Lake Maxinkuckee, Lake Monroe, and Lake Patoka; the Amish country and the smaller lakes of northern Indiana; the wooded hills in other parts of southern Indian ...

    Michael Smith/ Indiana Business Law Blog- 29 readers -
  • Upcoming Event: Business Opportunity Fair!

    At Smith Rayl Law Office, LLC, we know that many small business owners are looking for affordable resources, information, and strategies to help expand their businesses and reach new customers. This week, the Martindale Brightwood Community Development Corporation, in partnership with the U.S. Small Business Administration and the Community Resurrection Partnership, is hosti ...

    Michael Smith/ Indiana Business Law Blog- 31 readers -
  • Business Entity Reports: New filing schedule for Indiana nonprofits

    Indiana nonprofit corporations are being converted to a new schedule for filing business entity reports with the Indiana Secretary of State. In the past, a business entity report has been due every year in the same month in which the organization was incorporated. Nonprofit corporations will now file business entity reports every other year, the same schedule that applies to bu ...

    Michael Smith/ Indiana Business Law Blog- 49 readers -
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