June 29th, 2011
June 22nd, 2011
When the System Fails: Seeking Justice for Victims of Environmental and Other Mass Torts [Part 3]
Posted by Hadley Matarazzo
June 15th, 2011
When the System Fails: Seeking Justice for Victims of Environmental and Other Mass Torts [Part 2]
Posted by Hadley Matarazzo
June 10th, 2011
Faraci Lange Receives The Advocacy Center’s 2011 Corporate Support Award on June 4, 2011 at the George Eastman House
Posted by Faraci Lange
All recipients of The Advocacy Center's 2011 Community Awards!
Faraci Lange Partner, Matt Belanger, accepting the firm's 2011 Corporate Support Award!
June 8th, 2011
Lost Wages Claim for S-Corporation Owners Targeted for Denial by No-Fault Carriers [Part 3]
Posted by Raul E. Martinez, Esq.Also, the ‘salary not taken’ theory is premised on pure speculation because it depends on the existence of a profit at the end of the fiscal year. Let’s take the case of our client in the case I referenced above. She did not take a salary while unable to work due injuries from an automobile accident. Also, the S-corporation suffered a net loss at the end of its fiscal year. Under this scenario, our client was without a salary during disability and she never got the benefit of the increase of income to the corporation. In summary the ‘salary not taken’ theory forces two results: (1) S-corporations owners have to pay themselves a salary even when they cannot work in order to survive or (2) the owner must survive with no income until such time that the corporation reports a year end loss at which time the no-fault carrier will presumably acknowledge the lost earnings claim. There is absolutely nothing in the no-fault regulations to support this draconian position.
Not surprisingly, the ‘salary not taken’ theory was resoundingly rejected in our client’s no-fault arbitration. In reversing the denial of benefits, the arbitrator noted that: More…
