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AdobeStock_360567140-300x200California Governor Gavin Newsom signed several laws in 2022 that will have a significant impact on employers throughout the state, with some laws becoming effective the moment they were signed and others becoming effective as of January 1, 2023. It is important for all employers to know that New Year’s Day marked the first day of the state’s new minimum wage for all employees that is set to be $15.50 per hour, regardless of employer size. As a business owner in California, you should be aware of the following new laws that have gone into effect in 2023. By familiarizing yourself with these new laws, you can help ensure that your business remains compliant and up to date with the latest regulations.

New employment laws in California relate to many different topics, ranging from off-duty marijuana use to leaves of absence to reproductive rights. If you’re facing a business litigation concern, make sure you seek out an experienced California business attorney at Structure Law, Group, LLP. With so many changes in the law, it’s important to stay informed and get the help you need to make sure you’re in compliance with all relevant laws.

To help you stay informed, here is a brief overview of some of the new laws that have gone into effect in 2023:

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AdobeStock_363999428-300x200Post-closing disputes in many private mergers and acquisitions (M&As) can quickly turn once beneficial business decisions into sources of complete frustration and possible value destruction. When you are considering a merger or acquisition in Texas, it’s important to have the right legal representation on your side to ensure the process goes as smoothly as possible. At Structure Law Group, LLP, our experienced Austin mergers and acquisitions attorneys have the expertise and knowledge to provide you with the best possible legal advice and guidance to ensure a successful transaction.

Several post-closing disputes result from proper planning and insufficient forethought before people execute acquisition agreements. When you exercise the necessary diligence and retain legal counsel, you will be far less likely to end up in a dispute.

Earnouts

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AdobeStock_244916454-300x200A limited liability company (LLC) is a type of business entity. When formed properly and managed correctly, this business type can offer some protection from liability. Many business owners prefer the LLC because it can protect their personal assets from being used to satisfy the debts of the business. An LLC is not, however, the only business entity type that exists. Los Angeles business owners should consult with a business formation lawyer to explore the different options. A Los Angeles business formation attorney can help you select the business entity that best meets your specific business goals. At Structure Law Group, LLP our experienced Los Angeles LLC lawyers help entrepreneurs form LLCs to protect their assets and run these businesses in ways that minimize the LLC owners’ personal liability.

What Are the Benefits of an LLC?

There are many benefits to forming an LLC. When one or more owners – also referred to as “members” – form an LLC, these members can protect their personal assets from being used to satisfy business debts. Only their initial investments are placed at risk. However, there are many legal formalities that must be observed to enjoy this protection. The LLC must be formed properly under state laws. Here in California, doing so means filing the required paperwork with the California Secretary of State’s office. The business must also observe certain formalities in the way it is run post-formation. This observation of formalities requirement means that LLC owners do not simply get automatic protection as soon as they have filed the LLC paperwork with the relevant state.

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AdobeStock_301407508_Editorial_Use_Only-300x200Digital currency is becoming an increasingly popular way of conducting business, particularly due to the rise in contactless payments brought about by the COVID-19 pandemic. The Office of the Comptroller of Currency (OCC) has issued new guidance to ensure that financial institutions use digital currency safely. The OCC’s requirements include the need for banks to understand the risks associated with digital currency, to have an effective risk management program in place, and to ensure that anti-money laundering and consumer protection laws are followed.

Business owners should make sure they understand the OCC’s requirements and how they affect their business. Structure Law Group, LLP’s California corporate lawyers can help business owners stay compliant with the OCC’s requirements and ensure they are safely engaging with digital currency. Our highly skilled corporate lawyers can also provide advice on how to protect your business from potential risks associated with digital currency transactions. Learn more about the OCC’s requirements, what they mean for business owners.

What the OCC Rule Says

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AdobeStock_168060971-300x200Prop 19 is now effective in California. The new law makes changes to existing property tax laws, so it is important for homeowners to understand how their tax obligations can change under the new rules. Business owners must also be prepared for changes to property tax assessments on corporate real estate holdings. Learn more about the changes to state property tax laws, what business owners need to do to prepare for these changes, and how a California corporate attorney can help you determine the best way to manage real estate assets held by your business. With advanced planning, your business will be prepared to meet its tax obligations without compromising its financial goals.

What Is Prop 19?

According to the Office of the San Francisco Assessor-Recorder, Prop 19 makes changes to certain state property tax benefits. The law is an amendment to the state constitution that limits certain property tax benefits to make them available to others who need them. For example, this amendment requires an owner who inherits family property to use the home as a primary residence in order to retain the lower property value assessment for tax purposes. On the other hand, a homeowner who is over 55 years of age, disabled, or the victim of a wildfire or natural disaster may transfer a low property tax base on a replacement residence up to three times. These amendments have large impacts on families, especially in the bay area where the value of homes have increased significantly for many individuals who are now looking to pass the property on to their children.

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AdobeStock_185592300-300x200Most attorneys are familiar with the Model Rules of Professional Responsibility.  Beyond studying for the MPRE, these rules are important in practice and attorneys who do not understand how they apply can face disciplinary issues with the State Bar.

A new change to an old rule may allow pro bono providers to help their clients in more effective ways.  Learn more about the changes to ER 1.8(e) and how they can affect your organization’s pro bono policies.

The History of Model Rule 1.8(e)

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Senate Bill No. 1162 (SB 1162) was an act to amend Section 12999 of the California Government Code and Section 432.3 of the California Labor Code relating to employment. California Governor Gavin Newsom signed the bill into law this past September, which is effective January 1, 2023. Anybody needing help complying with this new law should contact a San Jose business attorney.

Pay Data Reporting Requirements Under Senate Bill 1162

SB 1162 requires all employers with 100 employees or more (including employees hired through labor contractors) to submit annual pay data reports to the California Civil Rights Department (CRD) beginning next May 10, and every second Wednesday in May annually thereafter.

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AdobeStock_114356861-300x200The term “startup” refers to a company in the initial stages of its operations, usually founded by one or more entrepreneurs aiming to develop a product or service, while having high costs and limited revenue. The first thing any startup founder will need to do is hire experienced Austin startup attorneys for assistance navigating the many challenges that will arise in the early stages of operations.

You will want to have a lawyer working with you early on because it will save you a lot on costs on the frontend, ensure the entity is properly formed and maintained, and establish an effective legal strategy as operations evolve. Make sure you are working with an attorney who understands the complexity of laws relating to startups and the relevant industry.

Early Startup Challenges

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AdobeStock_273133653-300x200California business owners face many different types of litigation. It is important to mitigate the risk of liability by consulting with a California business litigation attorney before your business is even established. The experienced California business litigation lawyers at Structure Law have helped entrepreneurs in all types of industries protect their companies from preventable losses. What follows are some of our tips to protect your business from litigation.

Have a business litigation attorney in California draft an operating agreement.

An operating agreement is not required to form a business in California. As a result, some business owners make the mistake of starting business operations without them. Without an operating agreement, the business is exposed to litigation and liability. An experienced business lawyer can draft an agreement that will reduce the likelihood of future liability. According to the Small Business Administration, an operating agreement sets the rules that guide a company’s decisions. Having an operating agreement can set decision-making processes that reduce the likelihood your company will face litigation. This agreement can even reduce the risk of future costly conflicts between owners of the company.

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AdobeStock_219561092-300x200Tokenization is the process in which you replace sensitive data such as a credit card number with a non-sensitive equivalent known as a token, and real estate tokenization refers to creating tokens on the blockchain and assigning them to real estate properties that already exist or are currently under construction. Tokens may represent an interest in real estate but can also raise capital for development investments.

If you are new to the tokenization process, you will understandably have a lot of questions about how it works and what you can do. You will want to make sure you are working with an experienced Silicon Valley blockchain attorney at Structure Law Group, LLP, who can guide you through the entire process and help you achieve the results you desire.

Real Estate Problems Tokenization Can Solve

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