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    Employee Pay and the Bankruptcy Stay - Potential Pitfalls Part 2: Garnishment Issues
    2016-08-01

    In a prior post, we set forth the potential liability of employers for collection of debts owed by employees in violation of the bankruptcy stay. To protect themselves from such liability, employers that accrue claims against their employees in the ordinary course of business should implement written protocols designed in consultation with bankruptcy counsel.

    Filed under:
    USA, Employment & Labor, Insolvency & Restructuring, Hunton Andrews Kurth LLP, Wage, Bankruptcy, Debtor, Debt, Withholding tax, Tax deduction, California Franchise Tax Board, Ninth Circuit
    Location:
    USA
    Firm:
    Hunton Andrews Kurth LLP
    Be careful what you plan for in California: bankruptcy reorg is normal course of business
    2014-08-28

    A California Franchise Tax Board (FTB) Chief Counsel Ruling concluded that a taxpayer’s sales of assets pursuant to a plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code were not “occasional sales” within the meaning of 18 Cal. Code Regs. § 25137(c)(1)(A)2. Instead, the sales of assets were deemed to be part of the taxpayer’s normal course of business and occurred frequently. As a result, the taxpayer’s gross receipts from the asset sales were includable in its sales factor for apportionment purposes. Under 18 Cal. Code Regs.

    Filed under:
    USA, California, Insolvency & Restructuring, Tax, Eversheds Sutherland (US) LLP, California Franchise Tax Board
    Authors:
    Todd Betor , Timothy A. Gustafson
    Location:
    USA
    Firm:
    Eversheds Sutherland (US) LLP
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