September 2012

$1,000,000 Settlement in Mendocino County Case

Janssen Malloy LLP recently resolved a case for a Eureka resident for the defendant’s million dollar policy limit arising out of a head on collision that occurred in Southern Mendocino County last year. Janssen Malloy LLP’s client was a passenger in a Jeep Cherokee that was struck by a truck that crossed the median directly into their path, causing a head on collision.  Plaintiff sustained serious injuries, and required two hip surgeries.

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LLC Taxes - "Check the Box" Regulations

For Federal tax purposes, the Internal Revenue Service has formulated “check-the-box” regulations for classifying business organizations. This allows unincorporated businesses to choose to be taxed as either a corporation, a sole proprietorship or a partnership. These “check-the-box” regulations have replaced the previous tests which tried to determine whether a business had a majority of corporate characteristics which would require it to be taxed as a corporation. If it did not have enough corporate characteristics, it would be taxed as a partnership.

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