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Campolo, Middleton & Associates, LLP, is a full-service business law firm that represents clients in a wide variety of legal matters including litigation and appeals; corporate and technology; real estate development and zoning; wills, trusts and estates; labor and employment; personal injury matters including the defense of general liability, construction, premises liability and transportation cases.
3340 Veterans Highway
Suite 400
Bohemia, NY 11716
p 631-738-9100
f 631-738-0659
Disclaimer
The information contained in this newsletter is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
The Firm provides legal advice and other services only to persons or entities with which it has established an attorney-client relationship. No recipients of information from this newsletter, clients or otherwise, should act or refrain from acting on the basis of any information included in this newsletter without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. The content of this newsletter contains general information and may not reflect current legal developments. The Firm disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this newsletter.
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Corporate Law
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Advantages and Disadvantages of Series
Limited Liability Companies
by David Hoeppner
Limited liability companies ("LLCs") are entities permitted by statute in each state, which provide limited liability to the owners, while allowing the option of being taxed like a partnership. To protect multiple assets or related businesses, a principal will often form several LLCs in order to limit liability for each asset. For example, if an individual owns multiple rental properties, that individual may want to protect each property by placing each in a separate LLC, rather than lumping all of the risks into a single LLC. This process, however, may cause the owner to incur significant administrative costs to form a separate LLC for each asset. In an attempt to minimize those costs, certain states have adopted laws permitting the formation of Series LLCs. These laws allow separate limited liability protection for separate assets or related businesses within a single LLC structure.
Delaware, Illinois, Iowa, Nevada, Oklahoma, Tennessee, and Utah all have statutes authorizing the formation of Series LLCs. Generally, these statutes permit a Series LLC to be formed by forming a regular LLC, and establishing one or more designated series of members, managers, ownership interests or assets, each stated to have limited liability within the LLC operating agreement. Each series within the LLC may have a separate business purpose (Illinois requires this), and may have separate rights, powers, duties, and allocations of profits and losses. In addition, each of the above states requires notice of the limited liability of each series to be set forth in the Series LLC's Articles of Organization, and requires that each series within the Series LLC have separate books and records and be accounted for separately.
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Employment Law
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Recent Employment Legislation: Tax Incentives For New Hires, New Employee Notification Requirements, and Increased Oversight
by Arthur Yermash, Esq.
Perhaps directly resulting from today's economic climate, significant legislation affecting employers is being enacted  at a blazing pace. Most new labor legislation seeks to accomplish one of two goals. The first goal is to stimulate hiring and employment and increase business profitability. The second goal is to protect the rights of employees, who may be exploited by cash strapped employers. The newly-enacted HIRE Act, and the New York employee notification requirements demonstrate the government's intent regarding the aforementioned goals. It is important that business owners be apprised of new legislation affecting employers. Being aware of all new labor laws will not only minimize risk of future penalties for noncompliance, but may also result in significant business incentives.
In March of 2010, President Obama signed into law the Hiring Incentives to Restore Employment ("HIRE") Act. The purpose of the HIRE Act is to stimulate hiring by offering tax incentives to all private employers. Employers that hire workers who have been previously unemployed for a period of at least 60 days are exempt from paying the 6.2% share of the Social Security payroll tax on that employee for the remainder of 2010. This results in savings of up to $6,621 (maximum amount of Social Security tax payable by an employer for each employee earning a salary of approximately $106,000) per each new employee. If this newly hired worker is employed by the employer for at least 52 weeks, then the employer will receive an additional tax credit of up to $1,000 on the employer's 2011 tax return. The tax incentives described here are applicable for qualified employees hired on and after March 18, 2010. The best thing about this employer incentive is that it allows companies to retain cash that would have been otherwise paid to the government as a tax, and permits the employer to use the cash for efficient business administration.
Click here to read more >
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Litigation
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Disclosure of Cell Phone Records in
Automobile Litigation
by Lauren D. Kanter, Esq.
Does the personal nature of cell phone records protect them from disclosure in motor vehicle litigation, or are they simply one of the many personal details revealed during the course of a case?
On March 13, 2006 at approximately 3:00 p.m., Robert D. Grant Jr. was driving a car owned by his employer when he was involved in a collision with Krystina Detraglia's vehicle. Plaintiff Fay Detraglia, parent of one of the injured minors in the Detraglia vehicle, commenced an action for personal injuries in Saratoga County Supreme Court against Grant and his employer, Hawkeye LLC.
During discovery, counsel for Plaintiff demanded that Defendants produce billing records for Grant's three cell phones, as well as for the Verizon Wireless air card for his company-issued laptop for the date of the accident between noon and 4:00 p.m. At his deposition, Grant testified that although all of these devices were in his vehicle at the time of the accident, he was not using them when the accident happened. Defendants refused to comply with these discovery demands and the plaintiff moved to compel disclosure. The Supreme Court partially granted the motion, ordering the exchange of the requested records. An appeal before the Third Department ensued. Detraglia v. Grant et al., 890 N.Y.S.2d 696 (3rd Dep't, 2009).
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Using the Sheriff's Office to Collect on
Money Judgments
by Eryn Y. Deblois, Esq.
Yet another reason why the Sheriff's office is important to all of us is that they are a powerful resource to use in  enforcing money judgments. The Sheriff has the power to levy and sell personal property and real property, and execute the judgment upon the debtor's income.
Before asking the Sheriff to execute a judgment and seize assets, information about the debtor's assets must first be determined. Assets include bank accounts, real estate holdings, vehicles, and business holdings. If such information was not already obtained during the course of litigation, an Information Subpoena can be issued requiring the debtor to answer questions about any assets. The Department of Motor Vehicles also provides information on whether the debtor owns a vehicle registered in the state.
It is also important to serve a Retaining Notice to the debtor and the debtor's banking institution notifying them of the creditor's interest in the property. This acts to prevent any transfer of assets, except on the direction of the Sheriff or order of a court, until the judgment is satisfied or vacated.
Once information about the debtor's assets is known, then an Execution is submitted to the Sheriff requesting them to satisfy the judgment out of the debtor's income or to seize personal or real property.
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Firm News
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| Middleton to Become President Elect of Stony Brook University Alumni Association
Scott Middleton will become President Elect of the Stony Brook University Alumni Association starting in June 2010.
Campolo Quoted in Long Island Business News Joe Campolo was quoted in the April 21st issue of Long Island Business News in an article on "Ways to Grow in a Down Economy". Click here to read the article.
Campolo Middleton to Sponsor 2010 Stony Brook University Golf Outing Once again Campolo Middleton is Photography Sponsor of the Stony Brook Alumni Golf Classic on Jun 21, 2010. Click here for more information.  |
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