Taft Stettinius & Hollister LLP

Generally, buyers of businesses want to buy assets so they can take a step up on a tax basis. Sellers prefer to sell stock, so their gain will be taxable at favorable capital gains rates. Some gain is usually taxable at higher ordinary income tax rates in an asset sale. Accordingly, S corporation owners who have

On May 1, 2024, Colorado became the thirteenth state to pass legislation banning per- and polyfluoroalkyl substances, commonly referred to as PFAS. The move comes shortly after PFAS received exceptional public attention when EPA finalized its first-ever national drinking water standards for six PFAS this past April. The release of these new standards now requires

Since EPA announced a Final Rule designating certain per- and polyfluoroalkyl substances (PFAS) as hazardous substances, there has been ample national attention on what the legal and regulatory landscape would look like in restricting these dangerous substances. Various states have taken independent action to curtail the significant health and environmental risks posed by PFAS. Recently,