The tax bill recently passed by the U.S. Congress and signed by President Trump retains the gift and estate tax, but substantially limits its reach. The new tax legislation represents a dramatic change to our transfer tax system and may provide substantial estate and gift tax reductions for … [Read more...]
Upcoming Changes to the Laws Governing Minnesota Limited Liability Companies (LLCs)
Effective January 1, 2018, all limited liability companies formed prior to August 1, 2015, under the Minnesota Limited Liability Company Act, Chapter 322B (“Old Act”) will become subject to the new Minnesota Revised Uniform Limited Liability Company Act, Chapter 322C (“New Act”). The New Act … [Read more...]
2017 Super Lawyers
We are pleased to announce that Mark J. Kalla, David A. Libra, Ralph V. Mitchell, John R. Stoebner, and Richard T. Thomson have been selected to the 2017 Minnesota Super Lawyers list. This is an exclusive list, recognizing no more than five percent of attorneys in the state. Super Lawyers, part … [Read more...]
Lapp Libra Successfully Defends Appeal Concerning Jurisdictional Citizenship of National Banks
Lapp Libra recently obtained a key victory on behalf of its client, Wells Fargo, concerning access to the Federal Courts. Under the U.S. Constitution, Federal Courts generally cannot decide state-law disputes unless the parties are citizens of different states. The more the number of states of … [Read more...]