Butler Snow's Top 5 Blog Posts From 2016 Looking back at our most popular Content from this year

1

Letter To A First-Year Law Student

Category: Attorney Publications

by Luther T. Munford

This is a letter I wish I had gotten when I started law school. I have sent it in various versions to several young friends as they began that adventure. It occurred to me that it might be worthy of publication, and might even stir a debate about what it is most important for first-year students to know. On the other hand, it may be out-of-date, redundant, or superseded by better advice readily made available to today’s entering students. On this, I trust your judgment completely.

2

Owners of Family Controlled Entities Must Act Quickly in Light of New IRS Regulations Attacking Valuation Planning

Category: The Tax Packet

by Sloane Jumper Hankins and Samantha R. Moore

In conclusion, because we do not know when the Proposed Regulations will be finalized, persons who are considering gifting or selling interests in family entities should consider implementing such gift or sale in the very near future to take advantage of discounts while they are still available. The Treasury Department has scheduled a public hearing on the Proposed Regulations for December 1, 2016. In our view, any contemplated gift planning should be completed well in advance of this date to provide the greatest flexibility.

3

Rye In Action: Tennessee’s New Summary-Judgment Standard is Here to Stay and Already Changing the Status Quo

Category: BizLitNews

by Will Perry

The change is more than mere gloss. “Rather than placing the burden on the moving party to prove that the nonmoving party will never be able to prove his or her case at trial,” as Hannan had done, “the [Rye] standard, like its federal counterpart, now requires that [the nonmoving party] . . . set forth specific facts [at the summary judgment stage] showing that there is a genuine issue for trial.” Whether the Rye court restored the federal standard for the reasons recited by the majority or in deference to the Tennessee General Assembly’s legislative reversal of Hannan in 2011, as decried by the dissent, remains an open question. See Tenn. Code Ann. § 20-16-101. Regardless, the Court of Appeals’s Yuletide decision in Steele illustrates the significance of the new standard for Tennessee litigants.

4

You’ve Been Notified: Alabama May Join Other States in Enacting Data Breach Notice Law

Category: BizLitNews

by Carol T. Montgomery

Forty-seven states and the District of Columbia have laws requiring notice of a data breach to potentially affected individuals.[1] Alabama may soon join the crowd. Bills creating the Alabama Information Protection Act of 2016 are progressing through the Alabama House and Senate. Currently, there is not a generally-applicable data breach notice law in Alabama. The proposed bill would require entities maintaining personal information to notify affected individuals, the Attorney General, and credit reporting agencies in the event of a security breach compromising personal information of more than 1,000 individuals. As a preemptive measure against data breaches, the law requires that companies maintain “reasonable security measures” to protect personal information in electronic form.

5

Video-Streaming Companies See the “Netflix Tax” Going into Effect Around the Country to the Dismay of “Cord Cutters”

Category: BizLitNews

by Melonie S. Wright

If you are like many other Americans, then you may have “cut your Cable TV cord” and turned to streaming movies and shows through your accounts with Netflix, Amazon Prime, Hulu, HBO GO, SlingTV, or other video streaming tech companies. However, many “House of Cards” and “Orange is the New Black” lovers across the country will likely have to pay a tax before they log in to their Netflix account.

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Created with images by markusspiske - "office home office creative" • Foundry - "library books education" • stevepb - "income tax calculation calculate" • succo - "accident injury risk" • Visual Content - "Data Breach" • JeepersMedia - "Roku"

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