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Posts from January 2017.
Posted in Tax and Finance

Earlier this month, the Fayette County, Kentucky Property Valuation Administration (“Fayette PVA”), in conjunction with the Kentucky Department of Revenue, announced changes to the guidelines and policies for agricultural property assessments in Fayette County for the tax year beginning Jan. 1, 2017.

Posted in Estate Planning

The Indiana Court of Appeals attempted to clarify how stock options are treated in Indiana divorce cases. In Fischer v. Fischer (Jan. 19, 2017; see 45A05-1512-DR-2328), the appellate court reversed the trial court’s inclusion in the marital estate stock options which were not vested on the date the petition for dissolution of marriage was filed, but had vested prior to the final ...

On Dec. 7, 2016, the Department of Health and Human Services, Office of Inspector General (“OIG”) released a final rule (“Final Rule,” see 81 F.R. 88368) modifying certain existing safe harbors to the anti-kickback statute and adding safe harbors that provide new protections or codify existing statutory protections. In the Final Rule, the OIG also amended the definition of ...

Posted in Estate Planning

A Florida appeals court has ruled that one spouse could not claim a homestead exemption against the property tax due on her Florida home when her spouse was claiming a homestead exemption against his home in Indiana.

Posted in Estate Planning

In a recent private letter ruling, 201652002, the IRS blessed the modification of a donor’s irrevocable trust in order to add a missing provision that was required for the trust to qualify under the IRS rules applicable to Grantor Retained Annuity Trusts (“GRATS”). The donor in question was able to take advantage of a statute in the donor’s state of residence allowing trusts to be modified to achieve the donor’s tax objectives, even with retroactive effect. The state court entered a judgment retroactively inserting the critical missing provision in each of the donor’s GRATS. The statute in question was taken from the Uniform Trust Code, which Kentucky has also adopted. Indiana has a more general statute permitting modifications and terminations of trust by courts.

John Williams, Chairman and CEO of Impact Infrastructure, Inc., joins The Water Values Podcast and discusses economic assessment of infrastructure projects. John’s insight into how utility (and other public and private) decision-makers can implement infrastructure projects in a manner that optimizes financial, social and environmental returns on investment is invaluable.

What is “Prevailing Wage Law”?

Kentucky’s prevailing wage law currently requires that contractors on public works projects estimated to cost more than $250,000 pay wages equal to or greater than the wages of similar workers in the locality where the project is being built. Effectively, the law forces contractors, union and non-union alike, to pay wages at the local union scale.

Recently, I was fortunate enough to moderate a panel discussion at the opening plenary session of the American Water Resources Association’s 2016 Annual Conference, which took place in Orlando, Florida. The panelists were fantastic: Lester Sola and Hardeep Anand, the Director and Deputy Director, respectively, of the Miami-Dade Water and Sewer Department, Cindy Wallis-Lage ...

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