The ACMA and our friends at the law firm of Brann & Isaacson are excited to co-present a special webinar edition of Legal Corner next Wednesday, September 25th at noon Eastern time. Being led by Managing Partner Martin Eisenstein (left) and Associate Adam Mooney (lower right), this hour-long presentation will focus on the liability to states for escheat (unclaimed property) for intangible properties, such as checks, gift cards, store credits and loyalty points.
When unclaimed by your customers, all forms of “breakage” (financial values of escheat) become your income. And states, such as California, Delaware, New York and Texas, are on the warpath for payment of not only the amount of the breakage but interest of up to 18% and penalties on the breakage.
This hour-long webinar will focus on the potential liability and ways to mitigate the exposure before the states come calling, addressing among other concerns,
- Many states do not even have a statute of limitations.
- There are not the customary nexus (doing business) arguments as there are for income taxes and other taxes, even though the liability feels like a tax.
- And there are many states that “gang up” to do single audits on behalf of multiple states, through a private auditing firm.
Registration Instructions:
Registration is limited to ACMA members only. If you’re a member, simply email pmiller@commercemarketing.org your name, title, company name and we’ll get right back to you with the registration link.
* * *
Legal Disclaimer:
This webinar will be held for educational purposes only, to provide information as of the date of the event about various legal issues we believe may be of interest to members of the ACMA and other direct marketers. Tuning in to the session does not create an attorney-client relationship between you and any of the webinar’s presenters or their law firm Brann & Isaacson. Although the presenters are attorneys, the information provided here will not be provided in the course of an attorney-client relationship and is not intended to constitute legal advice. The webinar is not intended to be legal advertising or to solicit any specific representation. The views expressed are those of the presenters, and are not intended to reflect or express the views of the ACMA or any of its members.
ACMA Contact:
Paul Miller, EVP & Managing Director, pmiller@commercemarketing.org
Brann & Isaacson Contract:
Martin Eisenstein, meisenstein@brannlaw.com

