This article originally appeared in the Spidel California Tax Newsletter It is not uncommon for an entrepreneur or an officer of a closely held corporation to be assessed a personal liability for California sales taxes. An individual doing busi ness as a sole proprietor in California is personally liable for any un paid sales tax, […]

1. General Rule – Anti-alienation Provision Section 206(d)(1) of Title I of ERISA (the “anti-alienation provision”) provides that: “[e]ach pension plan shall provide that benefits provided under the plan may not be assigned or alienated.”  The corresponding tax provision is Code §401(a)(13) which provides that  “[a] trust shall not constitute a qualified trust under this Section unless […]

   C. Wages        1. Exemption and Extent Thereof Prior to October 1, 1993, Florida exempted all wages of the head of a family from claims of creditors. Effective October 1, 1993, Fla. Stat. §222.11 generally limits the exemption to $500.00 per week. However, even the excess over $500.00 per week may not […]

Florida Limited Liability Companies (LLC), Limited Liability Partnership (LLP) and Limited Liability Limited Partnership (LLLP)        Significant changes were made in 1999 to the Florida Limited Liability Company Act (Chapter 608) Florida Statutes, to the Florida Revised Uniformed Limited Partnership Act (Chapter 620.101) and to the Revised Uniform Partnership Act of 1995 (Chapter […]

 Family Limited Partnerships 1. General A February, 1993 Trusts and Estates Magazine article quotes Jay W. Mitton, the author of the Asset Protection Guidebook, as follows: As asset protection tools, the limited partnerships really reign supreme. The single greatest proclamation in recent years to my own estate planning clients, is that the limited partnership is […]