Today, the Court of Appeals issued an opinion holding that the trial court erred in its ruling, that the lease was not ambiguous, and that the word “track” included all rail track on the leased premises including switch track as KCS contended during trial. The Court of Appeals ordered that the case be sent back to the trial court to award the KCS damages equal to the difference between the amount of rent due and the amount paid by Sasol, that being approximately $9.6 million plus interest.

Two days ago, the FTC issued its final rule banning noncompete agreements nationwide.

In a blow to the business community, the Federal Trade Commission (FTC) has announced that it has proposed a rule that would outlaw the use of employee non-compete agreements to protect businesses from the unfair use of its confidential business information.

The IRS recently announced new rules that will go into effect in 2023 with respect to payment processors such as Venmo, PayPal, Cash App, Square, and other payment apps. While there is no change to the taxability of income realized through payment processors, there are now more stringent reporting requirements.