final-rule-increases-minimum-salary-required-for-many-overtime-exemptions-to-47476-annually

“Final Rule” increases minimum salary required for many overtime exemptions to $47,476 annually

On December 1st of this year, more than an estimated four million workers that were once exempt from overtime pay will become eligible to receive overtime.  See Final Rule: Overtime, U.S. Dept. of Labor Wage & Hour Division, (Dept of Labor Link) (last viewed 8/2/16). This extension of overtime pay will be a result of […]

What is a Limited Liability Company Certificate of Dissolution? Why is it Important?

Business owners contemplating shutting their doors may have many questions regarding the appropriate manner to dissolve and wind-up a business entity. While it is vital for an entity to maintain appropriate records when the business is operation[1], it is equally important to take appropriate steps to discontinue business. Methods of Dissolving an LLC In Washington, […]

What is Trademark Law and Why is it Important for Your Business?

 By: BRANDON DOCKINS, Legal Intern The purpose of Trademark protection Producers of “Rolex”, “Mercedes Benz”, and “Louis Vuitton” have put significant effort into creating a name consumers associate with luxury, quality, and reliability. If an inferior product is released in the market with a confusingly similar mark consumers may be duped into buying what they […]

What are Supplemental Proceedings? How are They Used in Collections?

When a person or entity obtains a judgment against a debtor, information regarding a debtor’s assets may not be readily available. Without a clear picture of the debtor’s finances, a creditor runs the risk of utilizing a collection method (i.e. garnishment, personal property execution, real estate execution, etc.) that is not tailored to the debtor’s […]

Workplace Drug Policies and Legal Marijuana in Washington

Washington’s voter-approved Initiative 502 (“I-502”) has gone into effect and the first state licensed marijuana was recently sold in Spokane, WA. The first sale, made to Mike Boyer, made headlines nationally, as Boyer’s employer viewed him on television purchasing  marijuana and reportedly contacted Boyer, informing him he had twenty-four (24) hours to take a drug […]

I Want to Sell My Business. Now What?

The sale of a business is significant transaction that should be carefully structured. Many Washington business owners have spent years acquiring business assets, developing good relationships with employees, suppliers, and customers, and creating a brand name that is positively perceived by the public. When it comes time to sell the culmination of years of hard […]

What is a Social Purpose Corporation?

On March 30, 2012, Washington State passed legislation allowing for a new form of for profit-corporation, a Social Purpose Corporation (“SPC”). See RCW 23B.25. The SPC became available as a corporate form on June 7, 2012. As of March 1, 2014, there are eighty-nine (89) registered SPCs in Washington. [1] Washington SPCs are located throughout […]

What Are Stock Certificates?

In Washington, a corporation is formed by filing “Articles of Incorporation” with the Secretary of State and paying the applicable fee. See generally RCW 23B.020.030. The Articles of Incorporation contain information regarding the fundamental structure of the corporation, including the number of shares the corporation is authorized to issue. Id. A share of stock is […]

What is a Limited Liability Company Operating Agreement?

Washington statute allows the members of a limited liability company to enter into an agreement regarding how the company will be governed, so long as the agreement is not in conflict with Washington statute. See RCW 25.15.050. The operating agreement of a limited liability company provides the rules that the business must follow. The agreement […]

I Transferred an Interest in an Entity that Owns Real Estate in Washington. Is Excise Tax Due on the Transaction?

The Washington Department of Revenue imposes excise tax on each sale of real estate. See RCW 82.45.060. The term “sale” includes the transfer of a controlling interest in any entity with an interest in real property located in Washington for valuable consideration. See RCW 83.45.010(2). The transfer or acquisition of the controlling interest must occur […]