On August 12, 2025, the U.S. Second Circuit Court of Appeals (the “Court”) held that the New York Office of Cannabis Management and New York Cannabis Control Board violated the Dormant Commerce Clause of the U.S. Constitution by prioritizing the review and award of cannabis-related licenses to in-state applicants. New York’s cannabis licensing program currently gives priority to applicants that were convicted of (or are related to someone who was convicted of) certain marijuana-related ...| Cole Schotz
On August 4, 2025, the New Jersey Department of Environmental Protection (NJDEP) published a Notice of Administrative Change updating certain soil standards to implement the new Ground Water Quality Standards that became effective earlier this year on February 3, 2025. While the announcement unceremoniously characterizes these changes as merely administrative, ... The post A Silent Soil Scramble: NJDEP Sneaks in Some Substantial Changes to Soil Standards appeared first on Cole Schotz.| Cole Schotz
As of its July 3, 2025 effective date, the Contracts Honoring Opportunity, Investment, Confidentiality, and Economic Growth (“CHOICE”) Act dramatically overhauled Florida’s restrictive covenant framework. While many states have passed, or are considering passing, legislation to restrict the legality of noncompete and other restrictive covenant agreements, Florida enacted one of the most—if not the most—pro–noncompete laws in the country. ... The post Florida’s CHOICE Act: Offeri...| Cole Schotz
It is easy to mistakenly assume that naming a guardian in estate planning documents is only critical for individuals with minor children. In reality, however, appointing a guardian is just as important for parents as it is for individuals without children, empty nesters, and retirees. Appointing a guardian is a safeguard for when life takes an unexpected turn....| Cole Schotz
After months of intense negotiations, on July 4, 2025, the One Big Beautiful Bill (OBBB) was signed into law making various changes to the tax code that impacts estate, gift and income tax planning. Increased Estate, Gift and Generation-Skipping Transfer Tax Exemptions The Federal estate and gift tax exemption is currently set at $13.99 million per individual ($27.98 million for a married couple)....| Cole Schotz
H.R. 1 (President Trump's so-called "One Big Beautiful Bill") was officially signed into law Friday, July 4, and with it came sweeping changes to the real estate industry. Some of these changes are extensions of Trump's Tax Cuts and Jobs Act from 2017 (“2017 Act”). Like all change (and legislation),...| Cole Schotz
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law ushering in sweeping federal tax changes. The legislation notably expands the Qualified Business Income (QBI) deduction for professionals and further enhances the Qualified Small Business Stock (QSBS) exclusion for founders and investors. While OBBBA temporarily raises the State and Local Tax (SALT) deduction cap to $40,000, ... The post Salt Provisions In The One Big Beautiful Bill Act: A Mirage Rather Th...| Cole Schotz
On June 30th, bill No. 4654 was enacted making significant changes to the requirements for the publication or advertisement of legal notices including those required under the Municipal Land Use Law (“MLUL”). Historically legal notices were required to be published in newspapers of general circulation to provide the general public an opportunity to participate in hearings and meetings....| Cole Schotz
The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial properties classified as Class 4A “commercial properties” for real estate tax purposes and will likely have a significant impact on real estate transactions in New Jersey....| Cole Schotz
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