Trust The Leaders

Issue 23 / Spring 2009

• The Consumer Product Safety Improvement Act of 2008 The Consumer Product Safety Improvement Act of 2008 (the “Act”), passed by Congress and signed into law in 2008, is aimed at strengthening and broadening consumer product safety laws within the United States. The Act, which is administered and enforced by the Consumer Product Safety Commission (the “Commission”), is a complex piece of legislation requiring manufacturers, importers and retailers of a wide variety of consumer products to comply with new requirements, standards and restrictions.
• What Else Can We Do With the Corporate Jet? The corporate jet has fast become one of the key strategic business tools in this country, allowing, for example, a company with a single aircraft to visit multiple locations, customers and prospective customers on the same day, giving the user a decidedly competitive advantage in the market.
• March is Just Around the Corner: Move the Clocks Forward and Change Your Lien Forms The 2008 Georgia legislature has thrown the construction industry a curveball in the form of significant changes to the lien law. The revised lien statute does not go into effect until March 31, 2009, but some of the changes affect projects that begin before that date, so those who deal with lien issues need to be familiar with the changes or risk a loss of rights.
• Estate Planning Update

  “Philosophy teaches a man that he can’t take it with him; taxes teaches him he can’t leave it behind either.” — Mignon McLaughlin

  Contrary to McLaughlin’s statement, a big change in the federal estate tax arena has arrived that will make it possible to leave a bit more behind than in previous years. This change, part of the 2001 Tax Act, may make it advisable for you to review and perhaps revise your estate plan.

• Creating Traps for the Unwary: Recent Technology Law Developments Legal developments over the past year continue to confirm that many of the early technology-law legalbattles — such as the validity of electronic contract formation — are pretty well settled, even if those issues periodically arise in isolated cases. While there are many developments in this area at the federal level and a good deal of overlap between state and federal laws affecting technology issues, this overview principally highlights selected state-law trends and developments from the past 12 months or so involving technology-law issues that businesses should take note of as either confirmation of basic principles or matters on the horizon that should be monitored for potential impact.
• The Bilski Decision: Casting Doubt Over Patents for “Business Methods” The United States Court of Appeals for the Federal Circuit — the appellate court responsible for hearing patent cases — recently issued an opinion,* In re Bilski*, S45 F.3d 943 (Fed. Cir. 2008), which casts doubt on the validity of certain so-called “business method” patents. As the name implies, business method patents are directed toward innovative methods or processes for performing certain business tasks.
• They’re Final!: Rolling Changes to Georgia’s Tax Apportionment Law Now in Effect In its 2005 session, the Georgia General Assembly passed several bills that significantly reshaped thelandscape of Georgia business taxation. [See Trust The Leaders, Issue 13, p. 8] One of those lawsprovides for the phase-in of a reshaped apportionment formula for corporations doing business in more than one state. Beginning in 2008, gross receipts now make up 100 percent of the Georgia apportionment factor. The amount of payroll paid to Georgia-based employees and the amount of company property located in Georgia are no longer relevant for Georgia income tax apportionment computations.
• The Americans with Disabilities Amendments Act of 2008 On September 25, 2008, then-President Bush signed the Americans with Disabilities Amendments Act of 2008 (ADAA or the “Act”). The Act, which took effect on January 1, 2009, significantly broadens the number of employees who are subject to the protections of the original Americans with Disabilities Act.