Mechanic’s and Materialmen Liens: Getting Paid in Alaska

Mechanic's Lien
You don’t need a mechanics lien if you’re just making cardboard forts.

Mechanic’s and Materialmen Liens: Getting Paid. 

This outline is very brief and does not include provisions concerning public works contracts under the US Miller Act or the Alaska statutes.  It also does not address any statutory changes subsequent to the author date.  It also does not address any issues with respect to court interpretation.  This information is provided for general information purposes so that you can learn about the general information to protect your business and know the importance of seeking counsel within thirty days of job completion when you have not been paid.  Most important take away is time.  You only have 120 days from last working on the property to assert your lien.  You only have six months to sue on the lien claim unless you extend it.  The time period used to be 90 days but was extended by statute effective September 7, 2010.  These rights are among the post powerful collection tools at a contractor’s disposal.  The following pages address twelve significant aspects of construction lien enforcement.

Continue reading “Mechanic’s and Materialmen Liens: Getting Paid in Alaska”

Dirty Dozen Tax Scams

The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns.

“Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” said IRS Commissioner Doug Shulman. “Scam artists will tempt people in-person, on-line and by e-mail with misleading promises about lost refunds and free money. Don’t be fooled by these scams.”

Illegal scams can lead to significant penalties and interest and possible criminal prosecution. The IRS Criminal Investigation Division works closely with the Department of Justice to shutdown scams and prosecute the criminals behind them. Continue reading “Dirty Dozen Tax Scams”

AS 09.10.240 Extends statute of Limitations for Dismissed Cases

Statute of Limitations
Clayton Walker, Jr.

The Alaska Supreme Court held that Alaska Statute 09.10.210 extends the statute of limitations for cases that are filed and then dismissed.   This includes matters where the prior case was never served on the defendant and the regular statute has already run.

 

THE SUPREME COURT OF THE STATE OF ALASKA

AMERICAN MARINE CORPORATIOd/b/a AMERICAN HYPERBARIC CENTER, Appellant, v. CRYSTAL SHOLIN, Individually; and PUBLIC EMPLOYEES LOCAL 71 TRUST FUND, Appellees.

Supreme Court No. S-14299 Superior Court No. 3AN-09-12353 CI O P I N I O N

Appeal from the Superior Court of the State of Alaska, Third Judicial District, Anchorage, Andrew Guidi, Judge. N-  6755 – March 8, 2013

 

Buy-Sell Provisions in LLC Operating Agreements

Buy-Sell Agreements
Alaska Business Attorney

Closely held businesses with more than a single owner should have buy-sell provisions that address what happens on the death or disablility of an owner.  These agreeements can also address proposed exit strategies, dispute resolution, managment structure, noncompete agreements, antidilution provisions and valuation methods.  The meat of the agreement tends to be the right or obligation to buy or sell an owners interest. Continue reading “Buy-Sell Provisions in LLC Operating Agreements”

ABA Forum on Construction Law Annual Meeting.

It’s official, I am attending the annual meeting of the American Bar Association Forum on the Construction Industry in Dana Point, California.  The theme of the meeting is the future of construction law and practice.  The conference is April 25 through the 27th.  Some of the topics are:

  • The legal issues arising from on-site construction technologies
  • Preference programs in public projects:  Will this trend continue
  • The Future of construction insurance and bonding
  • The construction lawyer’s technology toolbox
  • Legal services arising from new project procurement and project management technologies
  • The law of the future — workforce issues
  • Forecasting change in Construction Law Practice
  • Globalization of construction dispute resolution
  • Preserving, finding and presenting construction project data at trial

There are 12 break out sections for various areas of specialization.  If you’ll be attending from Alaska, I’d like to hear from you.  If you are interested in me providing a report on my return to your business or group, I would be interested in talking about it before I attend.  The full agenda can be found here.

http://www.americanbar.org/content/dam/aba/events/construction_industry/aba_con2013_annual_brochure.authcheckdam.pdf

Passing up on LLC status May Save Millions in Tax

You can find an article here about a hypothetical use of a corporation to avoid substantial taxes:

via This (Hypothetical) Founder Saved $3 Million In Federal Taxes | TechCrunch.

I think that the article does a good job of demonstrating a major benefit that the tax code still holds only for corporations and is not available to those who jump on the LLC bandwagon.  Your specific business plan and exit strategy may dictate that a different entity may provide more benefits to you than you may if you simply make the knee jerk reaction of grabbing another LLC.

Shareholder Liable for Corporations Taxes

U.S. Tax Court held in T.C. Memo. 2013-32 that the taxpayer George Schussel, was subject to transferee liability, because he caused his corporation to evade income taxes. Just another way to pierce the corporate veil. Get good tax advice and don’t be a shareholder liable for your corporation’s taxes.

Give us a call if you are facing an IRS audit or allegations that you evaded taxes.

907-375-9226

Alaska Law Offices, Inc.

 

Activity Grouping: The Impact of Recent Developments

Since the passive activity loss rules of Sec. 469 were enacted in 1986, practitioners have wrestled with the concept. They are often faced with an arduous task in obtaining the relevant facts to ensure their clients’ compliance with the rules. Clients’ participation levels in various activities usually require annual examination, and material participation can sometimes be difficult to discern, especially with LLC members or limited liability partnership partners. The activity grouping rules of Regs. Sec. 1.469-4, which were Continue reading “Activity Grouping: The Impact of Recent Developments”