On February 5, 2021, Governor Wolf signed into law Act 1 of 2021 (SB 109), which, among other things, provides clarity and relief for Pennsylvanians who received Paycheck Protection Program (PPP) funds. It was made clear the forgiveness of a PPP loan will not result in Pennsylvania personal taxable income.
Congress has passed the National Defense Authorization Act (NDAA), which includes provisions that have implications for those in the maritime community. Most significantly, the NDAA settled inconsistent federal agency interpretations regarding...
Pennsylvania has a new law on the books that legalizes the use of Personal Delivery Devices, but municipalities are limited in the ways they can regulate such devices.
The latest information from the SBA, issued in Procedural Notice No. 5000-20057, has important implications for PPP recipients who have, are in the midst of, or are contemplating effecting a change in ownership of their entity. Of importance, certain changes of ownership will require the approval of the SBA, or, at the very least notice to the SBA.
By Gordon W. Prince, Esq. In light of the newly executed Paycheck Protection Program Flexibility Act (the “Act”), discussed fully here, the SBA (in consultation with the U.S. Department of Treasury) issued a revised PPP loan forgiveness application, as well…
By Gordon W. Prince, Esq. The Paycheck Protection Program Flexibility Act of 2020, a bill that focuses on easing restrictions on small businesses who will be seeking to have their PPP loans forgiven, has been signed into law by the…
By Salvia Yi, Esq. On May 27, 2020, the Pennsylvania Supreme Court declared that the statewide judicial emergency will end as of June 1, 2020. Notwithstanding, the President Judges in each county are authorized to extend or declare local judicial…
By Gordon W. Prince, Esq. The SBA has automatically extended the safe harbor Paycheck Protection Program loan repayment deadline to May 18, 2020, in light of the new guidance it has issued regarding the good faith certification all PPP loan…
May 14, 2020 UPDATE: SBA guidance now provides that borrowers who received PPP loans with an original principal amount of less than $2 million will be deemed to have made the required certification regarding the necessity of the loan in good…
By Stephen R. McDonnell, Esq. Pennsylvania Governor Wolf recently announced a partial re-opening of businesses amid the coronavirus pandemic in the State of Pennsylvania, scheduled to begin on May 8, 2020. Pursuant to the Governor’s order, certain businesses in…