December 19, 2010
Tax Lawyer 'Lap Dance Lou' Disbarred for Promoting Prostitution at Strip BarABA Journal, Tax Lawyer Loses Disbarment Appeal After Strip Club Guilty Plea:
A tax lawyer dubbed “Lap Dance Lou” by one tabloid has been disbarred for promoting prostitution at his Manhattan strip club.
Louis Posner was disbarred because of his March guilty plea to promoting prostitution at the Hot Lap Dance Club, according to stories in the New York Post and the New York Daily News. A state appeals court rejected Posner’s suit to retain his license on Thursday, saying his disbarment was automatic because of the guilty plea.
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It will be most interesting to see if there is a true stimulative effect created by the changes to IRC §1202(a)(4). Under the amendment an investor in a C corporation who invests in a qualified small business can as of 1/1/11 -12/31/11 exlude 100% of gain on the sale or exhange of those shares if they are held for 5 years. The current law limits the exclusion to 50%.
Posted by: sanford millar | Dec 19, 2010 1:51:16 PM