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Franchise Tax Intact After Allcat
Higher taxes for law firms organized as limited liability partnerships will remain in place, after the Texas Supreme Court on Nov. 28 refused to strike down as unconstitutional a state franchise tax on business partnerships. But Jimmy Martens, whose client lost that high-court challenge, says he's hopeful the court's reasoning could enable reforms to the franchise tax.Former Jackson Walker Lawyer Snared in Federal Case Against Wyly Brothers
Texas billionaire brothers Sam and Charles Wyly, in denying Securities and Exchange Commission allegations that they hid $550 million in trading profits via a maze of offshore trusts and other entities, are pointing at the advice they received from lawyers and financial advisers, according to reports. So, who were the go-to lawyers for the Wylys? Chief among them was Michael French, whom the SEC has also charged with helping the brothers set up the offshore trusts through which they made the trades in question.High Court to Hear Tax Case Involving Red McCombs
A case involving businessman Billy Joe "Red" McCombs, known to thousands of South Texas drivers for his eponymous car dealerships, is headed for the U.S. Supreme Court.Practice By Practice: 2010's Substantive Law Developments
Practitioners write about the year's developments in their practice areas, including banking and business, bankruptcy, criminal law, energy, family law, immigration, insurance, intellectual property, labor and employment, personal-injury law, real estate, securities and tax law. In all, the 22 writers reflect on substantive legal developments in 13 practice areas for 2010.Trending Stories
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