SALT & Pepper

  • Recycle Your Charitable Dollars

    For private foundations interested in a "return on investment" on the distribution of their foundation's charitable dollars (that is, a return beyond the satisfaction of doing good), Program Related Investments ("PRI's") are generally the tool of choice. A PRI can be counted as part of the foundation's required 5% annual distribution provided that the investment accomplishes one or more the foundation's charitable purposes, is not made to achieve a significant investment return, and is not used for lobbying or political campaigns...
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  • New York District Court Rules a Non-Party Must Prepare a Witness with Documents from Overseas

    A recent decision in the Southern District of New York, Wultz v. Bank of China, 2014 U.S. Dist. Lexis 1841 (S.D.N.Y. February 13, 2014), required a non-party bank to prepare a Rule 30(b)(6) witness with information that was only available overseas. There, the Bank of China subpoenaed Bank Hapoalim, a non-party Israeli bank, requesting documents pertaining to transactions and wire transfers involving an alleged Islamic Jihad leader.
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  • How Do You Define “Philanthropy”?

    For many Gen Y’ers (a/k/a Millennials, and generally understood to be people in their 20’s and 30’s today), philanthropy goes far beyond writing a check to one’s favorite public charity (or, even, texting a donation to the Red Cross following some natural disaster or another). Instead, philanthropy is now understood as a broader deployment of social capital with consideration of the Return on Investment (ROI) to be achieved through that deployment...
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About HMB Law

Welcome to HMB's SALT & Pepper blog. As the title suggests, this blog tracks important and emerging issues, trends and developments that affect our clients not only in State and Local Tax (SALT) but also in other disciplines and industries. This blog is designed to be a helpful resource. We hope our readers will find it practical, insightful and valuable.

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