Keeping owners, managers, and stakeholders up to date on issues affecting their businesses.
On April 15, 2022, Tony Evers signed Senate Bill 566/Act 258 into law. This article highlights certain changes in the WUPL that will be of interest to those doing business in Wisconsin.
When negotiating a merger or acquisition, reporting the acquired company’s payments of nonqualified deferred compensation (NQDC) or other reportable payments made before closing likely is not one of the key deal terms. However, if the acquiror will require the acquired company to terminate and pay out its NQDC plans before closing, particularly to non-employees (such as independent directors of the acquired company who will not continue with the acquiror), the parties should consider addressing who will be responsible for reporting those payments come tax reporting time.
The old proverb is that the best time to plant a tree was 20 years ago and the second best is now. The same might be said for getting your business ready to sell. There may be even more reasons to do so in today’s environment. Following are five reasons owners may wish to consider selling now.
COVID-19 has created uncertainty and disruption for many businesses across market segments and industries. Accordingly, it should come as no surprise that many business owners are hunkering down for the next year or so, and postponing what would have otherwise been near-term sales of their businesses. COVID-19 should not, however, cause business owners to automatically conclude that a business sale is not feasible at this time. In fact, for some business owners, this may be a time to expect healthy competition among buyers for the purchase of their businesses.