Chris Rubino, Author at Nashville Commercial Real Estate Attorney

The CARES Act Essentials for Businesses and Lenders

By Chris Rubino, March 29 2020

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To ease the economic impact of the public health crisis caused by COVID-19, Congress recently enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), a $2 trillion stimulus package designed to provide aid to states, industries, and workers during the COVID-19 outbreak. The CARES Act creates a $500 billion lending program for businesses and local governments. The CARE Act incentivizes businesses to retain employees and expands access to federal unemployment insurance and other benefits. Many of the provisions of the CARES Act may be crucial for both businesses and lenders to weather the COVID-19 crisis. Lending Program for Businesses. The CARES Act authorizes $349 billion for the Paycheck Protection Program, which grants the U.S. Small Business Administration (“SBA”) the power to provide forgivable loans to small businesses to use for payroll expenses, such as employee salaries, rent, and utility payments. A business is eligible if it is […]

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Tennessee Excise Tax and Franchise Tax (Tenn. Code Ann. § 67-4-2007 and Tenn. Code Ann. § 67-4- 2104)

By Chris Rubino, July 19 2018

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When purchasing commercial real estate, it is common, for tax and liability reasons, to form a single purpose entity to own the property. Many times, the entity that is formed is a limited liability company. Forming an LLC is generally relatively cheap, fast, and shields the members of the LLC from liability. However, when forming an LLC in Tennessee, or any other entity that provides limited liability to owners there are tax implications to consider that may not arise in other states. Tennessee does not collect income tax from individuals on most forms of income. Instead of imposing income taxes, Tennessee imposes various other taxes, including two forms of taxes for the privilege of doing business in the state. In Tennessee an excise tax and franchise tax are imposed on corporations, subchapter S corporations, limited liability companies, professional limited liability companies, real estate investment trusts, limited partnerships, and registered limited […]

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Seven Things to Consider When Buying a Triple Net Property

By Chris Rubino, January 24 2018

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Purchasing a property with single tenant triple net lease (“Triple Net Property”) is a common investment tool for investors seeking a passive stream of income. Triple Net Properties can be a great investment for both sophisticated real estate investors and people who are new to the real estate investment world. Regardless of your experience level, when looking to purchase a Triple Net Property, there are a number of factors to consider. The Creditworthiness of the Tenant. In the short term, the creditworthiness of the tenant is one of the most important factors when considering whether to purchase a Triple Net Property. When purchasing a Triple Net Property, you are generally purchasing the property for the steam of income generated by the rent under the lease. A creditworthy tenant is more likely to make timely rent payments, ensuring the Property has a constant payment stream. Generally, publicly traded companies are […]

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