By Chris Hermann and Bernie Kipp: Type of Transaction – Asset Purchase versus Stock Purchase. Very important if the acquiring entity wants an immediate continuing operations privilege. Specifically If a PE firm purchases the assets of the target company (including the operating name, equipment, IP, inventory and the current brewery building) and intends to do … Continue Reading
The IRS recently issued a new Audit Technique Guide (“ATG”, available here) applicable to winery and vineyard operations. As with previous IRS guidance, the new ATG is meant to be used by IRS examiners; however the IRS anticipates the industry will rely upon the publication as a guide. It should be noted, the ATG should not … Continue Reading
Hong Kong has been making a concerted effort to promote the wine industry within its borders. The Hong Kong Commerce and Economic Development Bureau (CEDB) began signing Memoranda of Understanding (MOUs) with wine producing regions in August of 2008 when it signed an MOU with France. This followed Hong Kong’s abolition of the wine tax, which opened … Continue Reading
