The Motley Fool

MAY 11, 2024

There has been a massive overhang on 3M (NYSE: MMM) for several years from legal, regulatory, and corporate issues. First, there were legal issues surrounding product liability because of earplugs the industrial company sold to the military. To top it off, the legal and regulatory headwinds are likely to linger for longer.

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The Motley Fool

JANUARY 22, 2024

Image source: Getty Images Small business owners have to deal with a few different types of legal compliance and document filing requirements throughout the year. In most states, with just some simple paperwork and a small fee, you can set up a small business that has its own separate identity for banking , taxes, and liability purposes.

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The Motley Fool

APRIL 18, 2024

Anyone who owns a small business with a legal entity, like a limited liability corporation (LLC) should pay attention to this new rule. Treasury Department wants to prevent suspicious LLCs and other legal business entities from being used for financial crimes. You cannot afford to miss this deadline.

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Legal Taxes Liabilities Banks 246

The Motley Fool

JANUARY 5, 2024

If you have a skimpy amount of car insurance coverage, you risk massive financial losses and legal liabilities. Liability insurance: Must-have (and required by law) Liability insurance is a must-have, because it protects you in case of an accident that is your fault. But don't cut your car insurance budget too far.

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The Motley Fool

JANUARY 21, 2024

The main factor causing concern is the company's legal issues. On the one hand, the settlements provided clarity on its future liabilities. On the one hand, 3M expects to receive a $1 billion cash dividend from that entity following the spinoff to help cover its legal settlements. Is 3M in a similar predicament?

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The Motley Fool

OCTOBER 16, 2023

You can get more flexibility in how you are taxed on your income as a corporation, protect yourself against liability, and more easily transfer ownership. You are not required to hire a lawyer There is no requirement that you hire legal help to assist you with the incorporation process. Here's what you need to know.

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Legal Taxes Liabilities Shareholders 246

The Motley Fool

AUGUST 4, 2023

states where recreational or medicinal marijuana is legal is for payments by customers to be either cash or via debit card. Instead, the issues of legal liability loom far larger. Cannabis isn't legal at the federal level in the U.S., Cannabis legalization is sweeping over North America – 19 states plus Washington, D.C.,

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Legal Liabilities Banks Accounting 130

The Motley Fool

AUGUST 13, 2023

In that context, the company's recently announced purchase of eight beer brands from Anheuser-Busch InBev could be seen as a liability as there is a chance the brands are money-burning as well. Another key element of the bear thesis is that big catalysts, like cannabis legalization in the U.S. and the E.U., Nor does the E.U.'s

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Legal Liabilities Shareholders Banks 246

The Motley Fool

MAY 8, 2024

Forming an LLC or other legal business entity If you want to make your business "official" in the eyes of the law, you need to form a limited liability company (LLC), S Corporation, or other legal business entity. That's the big step that banks will need you to take, so your business has its own legal identity for tax purposes.

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Legal Banks Taxes Professional Services 130

The Motley Fool

FEBRUARY 25, 2024

There can be pretty hefty financial and legal consequences to driving uninsured, particularly if you're in an accident. Mississippi There are a few ways you can cover yourself to drive in Mississippi, but the most common is to carry minimum liability insurance. In short, the risk massively outweighs any short-term savings.

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The Motley Fool

OCTOBER 8, 2023

Every business should have liability insurance in case it is sued. Professional help for accounting or legal issues Companies can face a host of legal and accounting issues that must be addressed. Here's what they are. Insurance Insurance provides vital protection against potentially devastating financial losses.

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Legal Taxes Liabilities Banks 246

The Motley Fool

MAY 15, 2024

Auto insurance is not just a legal requirement in most states; it's a crucial financial safety net. The main components include liability coverage (if you're responsible for harm to others), collision coverage, and comprehensive coverage (which covers theft and non-collision damage).

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Liabilities Legal Financing Finance 130

The Motley Fool

JULY 24, 2023

Image source: Getty Images All states require their drivers to carry some auto insurance in order to drive legally. State-minimum car insurance is the minimum amount of coverage the state requires drivers to have in order to legally operate a vehicle. It could lead to massive debt, not to mention legal headaches.

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The Motley Fool

JUNE 22, 2023

The first -- its potential legal liabilities from manufacturing and using per- and polyfluoroalkyl substances (PFAS), and its sale of allegedly faulty combat arms earplugs -- gets most of the mainstream media attention. That said, there's only so much management can do about those liabilities now. Image source: Getty Images.

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Legal Liabilities Shareholders Asset Management 130

The Motley Fool

MAY 2, 2024

The company has been battling legal issues related to water pollution and potentially faulty earplugs sold to the military. While the settlement structures will help lessen the impact of those costs, the company needs to bolster its financial flexibility so its legal liabilities won't harm its balance sheet or impact its ability to grow.

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Mergers and Acquisitions Legal Conglomerates Liabilities 130

The Motley Fool

MAY 2, 2024

life insurance companies had a very strong quarter, with pre-tax income estimated at $258 million, driven primarily by benefits from LTC in-force rate actions, including the impact of legal settlements. We continue to significantly reduce tail risk through our multiyear rate action plan, or MYRAP, and legal settlements.

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Legal Liabilities Taxes Shareholders 130

The Motley Fool

JANUARY 6, 2024

Without an insurance policy that will cover damage and liability issues, you could be at risk of a financial disaster. That's because most states have laws requiring that rental car companies provide a minimum amount of liability insurance. You'll be covered by that liability insurance, even if you don't have insurance of your own.

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The Motley Fool

MARCH 4, 2024

Liability coverage is another area where it's not a good idea to go with the cheapest option. You may be able to get away with $30,000 in liability coverage to satisfy your state's legal requirements. If you have a new car, you should get full coverage.

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Liabilities Legal Companies Funds 242

The Motley Fool

SEPTEMBER 21, 2023

3M's legal problems haven't entirely gone away Industrial giant 3M is fighting a number of lawsuits. It followed that up with a $6 billion settlement over product liability regarding earplugs it sold to the U.S. And on top of that, 3M has decided to make some notable business changes because of its legal issues.

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The Motley Fool

JANUARY 4, 2024

Numerous issues have led to this decline, but the really big ones involve legal issues. The other headwind for the stock has been legal. The company faces product liability and environmental lawsuits, both having already resulted in billions of dollars in costs and settlements. Image source: 3M. Why would 3M spin off healthcare?

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Legal Liabilities Accounting Shareholders 130

The Motley Fool

JUNE 17, 2023

General liability insurance As its name suggests, general liability insurance covers a wide range of liability situations that you may face as a business owner. Keep in mind that liability insurance covers damage done to third parties, not to you (the "first party").

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Liabilities Legal Consultants Consulting 130

The Motley Fool

NOVEMBER 23, 2023

There are legal protections in place for lost and stolen debit cards. You need to report it ASAP to limit your liability for fraud As soon as you know your debit card is lost, report it to your bank. The reason this is so crucial is because your fraud liability is based on how soon you report your lost debit card.

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Liabilities Banks Legal Accounting 130

The Motley Fool

SEPTEMBER 20, 2023

The market has reacted negatively to various issues such as slowing postpaid phone net adds, new forms of competition entering the market, potential liabilities stemming from legacy infrastructure, a high debt load, and underwhelming free cash flow (FCF) generation. and Canada.

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The Motley Fool

FEBRUARY 16, 2024

market even before it's legal to do so. legalizes marijuana. million in current liabilities. once legalization occurred. may legalize marijuana, but the long-term trajectory has been negative. The federal ban on pot in the U.S. prevents Canadian companies from entering the U.S. The company's operating loss of $23.9

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The Motley Fool

DECEMBER 8, 2023

The problem is that 3M is currently dealing with a number of costly legal issues. It recently settled some cases, including around its liability related to earplugs it sold to the U.S. Still, there are likely more costs and headwinds to come on the legal front. And all of the company's legal problems aren't yet behind it.

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The Motley Fool

JANUARY 26, 2024

The first is the most newsworthy -- it has faced a slew of legal and regulatory challenges in recent years. The list includes product liability lawsuits surrounding ear plugs it sold to the U.S. The second issue here is that, at least partly because of the legal issues, 3M is planning to spin off its healthcare division.

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The Motley Fool

DECEMBER 10, 2023

According to AAA, more people reported engaging in risky driving behaviors -- like driving more than 15 mph over the speed limit on the freeway, reading emails or texts behind the wheel, and even driving when they knew they were probably legally drunk -- in 2021 compared to 2020. One thing you want to avoid: lowering your liability coverage.

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Liabilities Legal Companies Funds 245

The Motley Fool

DECEMBER 7, 2023

That's where third-party insurance, or liability insurance , comes in. If you're a car owner in the United States, you're legally required to purchase third-party auto insurance. It covers legal fees. If a victim sues you for injuring them, third-party auto insurance pays for legal expenses needed to resolve the case.

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The Motley Fool

MARCH 27, 2024

These types of issues aren't unusual for a company as large as 3M, but the legal costs and regulatory issues surrounding its environmental and product liability headwinds are huge. This is where my problem with 3M really came to a head, because the company can't really talk about legal issues until they are basically resolved.

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Legal Liabilities Stakes Portfolios 130

The Motley Fool

AUGUST 6, 2023

Otherwise, you will be unable to rent out your investment property legally, leading to fines and potential legal action. Some require a home-sharing permit, some a tourist license, and others require you to pay a hotel tax and carry liability insurance. It's essential to ensure your investment follows all the laws in your area.

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The Motley Fool

APRIL 11, 2024

For example, limited liability companies (LLCs) and S-corporations both provide protection from liability, and an S-corp gives you more flexibility with your taxes. Maintaining corporate formalities means you actually treat your business like a separate legal entity. And that means it needs its own bank account.

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Banks Accounting Liabilities Taxes 130

The Motley Fool

JANUARY 29, 2024

First, the company is working through massive legal and regulatory problems that have cost it a huge amount of money. The list includes product liability lawsuits around earplugs 3M sold to the U.S. The list includes product liability lawsuits around earplugs 3M sold to the U.S. Image source: Getty Images.

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Legal Liabilities Prospects Shareholders 130

The Motley Fool

SEPTEMBER 7, 2023

I sold most of my position in industrial giant 3M (NYSE: MMM) a little while ago because I couldn't track the progress it was making on major legal issues it faced. The plan to spin it off appears to be motivated by a desire to protect the group from the company's legal issues, but that comes at the expense of 3M's long-term growth.

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Legal Stakes Liabilities Shareholders 130

The Motley Fool

DECEMBER 2, 2023

In fact, depending on the state, drivers may be able to get away with having just $15,000 per person and $30,000 per incident in bodily injury liability coverage. It's true that it is cheaper not to buy a ton of liability protection, but that's only if nothing goes wrong.

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Liabilities Legal Assets Banks 130

The Motley Fool

JULY 31, 2023

Johnson & Johnson created LTL Management in 2021 as a separate company to bear all of its talc liabilities. The company believes that its talc products are safe and that the legal claims lack merit. Bankruptcy Court for the District of New Jersey dismissed a bankruptcy case filed by J&J subsidiary LTL Management.

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The Motley Fool

JANUARY 26, 2024

At 3M's fourth-quarter earnings conference call , management clearly stated that without the proceeds from healthcare's proposed spinoff, the company hasn't concluded how it'll fund the legal settlements. That explains why 3M management has been caught up in the legal tangle and has not been able to focus on innovation and sales.

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The Motley Fool

SEPTEMBER 21, 2023

The company has faced a barrage of legal issues, creating uncertainty over its liability. However, 3M has recently agreed to settle two of its biggest legal issues. There are some concerns about whether 3M will be able to maintain its dividend in the future. While it agreed to pay out a whopping $18.5

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