[COMMERCIAL REAL ESTATE] The impact of COVID-19 on the CRE industry is unprecedented. We have been asked a broad range of questions as a result of the pandemic, including: What if a tenant cannot pay rent? Are commercial transactions being closed? How are lenders and borrowers affected? Are Force Majeure clauses available? and more.
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Entries by Dave Rhea
[TAX LAW] As part of FFRCA and the CARES Act, Congress made a number of favorable changes to the Tax Code that are beneficial to benefit both businesses and individuals. Specifically with respect to businesses, the following provisions may be extremely helpful during the economic crisis stemming from COVID-19:
[SBA LOANS] With recent passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Small business owners, in particular, are anxious to receive relief under the Act. The Small Business Administration (SBA) is implementing regulations regarding the historic legislation. Here is a summary of what we know, currently:
[EMPLOYMENT LAW] Phillips Murrah has put together a flat-fee bundle of basic policies and guidance to help employers comply with the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family Medical Leave Expansion Act (EMFLA), both of which are part of the Families First Coronavirus Response Act that goes into effect on April 1.
[TAX LAW] The CARES Act, approved by the Senate and set for a Friday House vote, provides both individuals and businesses with robust economic support, including through changes to the federal tax code.
[SBA LOANS] The CARES Act, approved by the Senate and set for a Friday House vote, authorizes $349 billion for SBA 7(a) loans. Read important highlights:
Due to the horrible effects of the COVID-19 global pandemic, Oklahoma Governor Kevin Stitt has ordered that all businesses not identified as being within a critical infrastructure sector to close. Understandably, the order has a lot of Oklahomans wondering who and what falls into the category of being considered as a part of the critical […]
[LIQUOR LAWS] Many Oklahoma cities have closed restaurants to dine-in service and permit only delivery, take-out or curb-side pickup. ABLE permits beer and wine sales to consumers from licensed restaurants that are closed to dine-in service.
[SBA LOANS] For Oklahoma businesses interested in more information about the U.S. Small Business Administration (SBA) Economic Injury Disaster Loan Program, The Oklahoma Department of Commerce is hosting three teleconferences that will cover the application process.
[CYBERSECURITY LAW] For companies, responding to the pandemic means enabling employees to work from home. With this comes the obvious preparation to allow employees access to company information outside of the company’s network. It is incredibly important to recognize that this comes with an increased risk of data security issues.
[EMPLOYMENT LAW] The U.S. Department of Labor issued its first guidance on the implementation of the recently-enacted Families First Coronavirus Response Act. The DOL is expected to issue formal implementation regulations later this week. Some of the important information in this initial compliance assistance document is highlighted below:
[EMPLOYMENT LAW] The U.S. Senate reportedly reached a bipartisan deal to finalize and pass the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), a $2 trillion stimulus package seeking to address the widespread economic damage caused by the ongoing coronavirus pandemic.
[TAX LAW] Oklahoma Tax Commission: Curbside or drive-through packaged beer and wine sales do not constitute mixed beverages that are subject to 13.5% mixed beverage tax.
[FAMILY LAW] For families dealing with a court-ordered visitation schedule due to divorce, paternity actions, guardianships, or otherwise, there was no clear direction on how they should continue with their current court-ordered visitation schedule that primarily revolved around start and stop dates correlating with the minor child(ren) school calendar.
[TAX LAW] Over thirty states and municipalities are offering tax relief to taxpayers in connection with the COVID-19 outbreak. Attached is a summary of the various state and local actions as of March 24, 2020 that was prepared by Thompson Reuters Checkpoint. So far, Oklahoma has provided two relief measures:
[TAX LAW] The Families First Coronavirus Response Act (FFCRA) includes both the Emergency Paid Sick Leave Act, which provides for paid sick leave, as well as the Emergency Family and Medical Leave Expansion Act, which provides for expanded paid leave. The Act provides employers relief in the form of tax credits to offset the cost of wages.
[EMPLOYMENT LAW] The U.S. Department of Labor (DOL) Wage and Hour Division (WHD) reached out on Monday seeking pubic input on how to implement The Families First Coronavirus Response Act (FFCRA). Input in open March 23 through March 29.
[HEALTHCARE LAW] Governor Stitt issued Amended Executive Order 220-7 which provided additional responses to the current pandemic. The Order offers a grace period by providing the following guidance to providers with state licensure issues to all 77 counties and positions.
[BANKRUPTCY & RESTRUCTURING] The continuing uncertainty surrounding the COVID-19 global pandemic is causing significant disruption to business operations. Recent restrictions on operations is likely to further cause various businesses to lack the financial capabilities to meet ongoing obligations. Such business may have various contractual and legal rights that may serve to ease their financial pain.
[THIS ARTICLE IS OUT OF DATE. PLEASE SEE UPDATED INFORMATION HERE.] By Phillips Murrah attorney Kendra M. Norman SBA Loans The U.S. Small Business Administration (SBA) has several lending programs. A full list of the loan programs offered by the SBA and eligibility requirements can be found here, however its main programs are as […]
[EMPLOYMENT LAW] On March 18, President Trump signed the Families First Coronavirus Response Act into law. It applies to all private employers with fewer than 500 employers. Paid sick time will be permitted to employees regardless of tenure, while employees with at least 30 days on the job will be eligible for the amended FMLA leave connected to the coronavirus.
By Lauren Barghols Hanna On March 18, President Trump signed the Families First Coronavirus Response Act into law. It applies to all private employers with fewer than 500 employers. Paid sick time will be permitted to employees regardless of tenure, while employees with at least 30 days on the job will be eligible for the […]
ALERT: Coronavirus (COVID-19) Update 03/18/20 As has become apparent, the COVID-19 pandemic is an unstoppable disruptive influence across almost every aspect of our lives. Like so many of our friends and clients, we have been preparing in earnest. To that end, starting yesterday, our Firm began transitioning to working remotely. As always, our attorneys are […]
By Lauren Symcox Voth EEOC Publishes Guidance on Pandemic Preparedness The World Heath Organization (WHO) has declared COVID-19 an international pandemic and as a result the Federal, Local, and State governments have declared a state of emergency across the country. Employers have received guidance from multiple sources about what to do next. In light of […]
By Lauren Barghols Hanna Late last evening, the U.S. House of Representatives passed an amended version of the Families First Coronavirus Response Act, originally passed by the House on Saturday. Although the amended bill was labeled as “technical corrections,” it makes broad substantive changes to the paid leave protections originally provided to employees. Some provisions […]
By Lauren Barghols Hanna As of publication, there are 167,517 confirmed cases of COVID-19, the respiratory disease caused by the novel coronavirus, in 135 countries around the world, with the United States currently confirming more than 3,000 cases. On Friday, President Trump declared a national state of emergency in response to this pandemic. In response, […]
By Lauren Barghols Hanna As of publication, there are 167,517 confirmed cases of COVID-19, the respiratory disease caused by the novel coronavirus, in 135 countries around the world, with the United States currently confirming more than 3,000 cases. On Friday, President Trump declared a national state of emergency. In response, the Department of Labor issued […]
By Thomas G. Wolfe, Managing Director of Phillips Murrah P.C. I’m reaching out to you as a fellow animal lover to make you aware of The Village Animal Shelter and to ask for your help to make much-needed improvements on behalf of the animals that find themselves there. Early last summer, I read an article […]
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