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NEWS: Legislature Amends “Independent Contractor” Definitions
Legislature Amends “Independent Contractor” Definitions Effective as of December 31, 2012, the definition of an “independent contractor” under Maine unemployment, and workers compensation statutes will change, under a law signed by the Governor on April 18, 2012. The law, chapter 643 of the Public Laws of 2012, changes several sections in the Maine Revised Statutes….
For-profit Director and Officer Standards of Conduct under Maine Law
Under Maine law, corporate officers and directors bear fiduciary duties to the corporations they serve. Fiduciary duties exist because of the high level of trust placed in a person in a fiduciary capacity. As U.S. Supreme Court Justice Cardozo explained in 1928 in Meinhard v. Salmon: A trustee is held to something stricter than the…
Maine Retailer Certificates, Resale Certificates and Sales and Use Tax
Summary Each business that sells tangible personal property in Maine must obtain a retailer certificate (this is the sales tax ID registration process) and collect and remit sales tax from its customers; All retailers should determine whether they can qualify for a resale certificate, which will allow them to save the (generally) 5.5% sales tax…
Proposed Rule From the FTC Would Ban Non-Compete Agreements in Most Circumstances
Currently, the general test for determining whether a non-compete agreement is enforceable depends on several factors, including (1) whether the agreement protects a legitimate business interest; (2) whether the time limitation is reasonable; (3) whether the geographic limitation is reasonable; and (4) whether the worker receives some tangible benefit for signing the agreement. In Maine,…
LEARN ABOUT: Tips For Avoiding Civil Liability When Dealing With Shoplifters
Shoplifting is a problem that all retailers have to face. As is the all-too-common threat that the retailer is falsely imprisoning the alleged thief while identifying them and notifying law enforcement officials of the suspected crime. Thankfully, Maine law protects retailers during this “detention” phase, so long as the retailer follows the process described by…
Which Type of Business Entity Is Best for Me?
In this two-part series, we’ll discuss the differences in the following business entities: Sole Proprietorship, Partnership, and Limited Liability Company. Congratulations! You want to start a business. You’ve perfected a million dollar idea and are excited to hit the ground running. You’ve fine tuned your process, know who your target market is, and maybe even…