Cohen scores major appellate victory

Litigation, News / By
Cohen Mike 1420 1

Michael Cohen and co-counsel, Harlan Lazarus of the firm Lazarus & Lazarus, P.C., secured a major appellate victory in September when the New Jersey Appellate Division affirmed a Chancery Judge’s decision following a 22 day trial. The Appellate Division agreed with the trial judge’s findings in favor of our clients, Divyajit Mehta and DGNS Corp., and against the defendants, Emanuel and Fariba Hedvat, and various businesses they own, concluding that they were liable for breach of contract, breach of the covenant of good faith and fair dealing, conversion, and unjust enrichment in connection with their acquisition of our clients’ business interests. Each of the Hedvats appealed separately. Their appeals, which raised a multitude of issues, were consolidated for decision and reported at Mehta v. Hedvat, 2025 N.J. Super. Unpub. Lexis 1668 (Sept. 4, 2025). The appellate victory preserved a judgment valued at $4.825 million. In addition, the Appellate Division awarded Cohen, his co-counsel, and their clients an additional $159,000 in legal fees for prevailing on the appeal.

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2025 NJ Realty Transfer Fee – Bill s4666 / A5804

Commercial Real Estate, News / By

On June 30, 2025, Governor Murphy signed Bill S4666 / A5804 into law, making the seller the responsible party for paying the “Mansion Tax” (N.J.S.A. 46:15-7.2 et seq.), as well as substantially increasing the rates on transfers for more than $2,000,000.00. These changes were effective as of July 10, 2025.

     Rather than being imposed on the buyer, the “Mansion Tax” is now imposed on the seller, in addition to the Realty Transfer Fee (N.J.S.A. 46:15-5 et seq.). Although no regulatory guidance or tax forms are yet available, N.J.S.A. 46:15-7.2 now provides the following fee structure for the “Mansion Tax,” which consists of five potential rates, depending on the total amount of consideration stated in the deed:
 

  • Consideration of $1,000,000.00 to $2,000,000.00: 1% of the entire consideration
  • Consideration of $2,000,000.01 to $2,500,000.00: 2% of the entire consideration
  • Consideration of $2,500,000.01 to $3,000,000.00: 2.5% of the entire consideration
  • Consideration of $3,000,000.01 to $3,500,000.00: 3% of the entire consideration
  • Considerations above $3,500,000.00: 3.5% of the entire consideration


     As before, the “Mansion Tax” applies to a transfer of real property that has been classified by the municipal tax assessor as Class 2 (1-4 family house), 3A (if the farmland contains a residential dwelling), 4A (commercial), or 4C (a cooperative unit). Conveyances for less than $1,000,000.00 remain exempt from the “Mansion Tax.”

As always, the attorneys at Winne, Banta, Basralian & Kahn are here to serve you.

If you have specific questions pertaining to the information above, please contact one of the attorneys in our Real Estate, Land Use, Planning & Zoning and Environmental Law Department listed below.

Co-Chairs:                                                                                  

Joseph L. Basralian jbasralian@winnebanta.com                      

Richard R. Kahn rkahn@winnebanta.com                                                                                                           

Partners:   

Thomas J. Cangialosi, Jr. tcangialosi@winnebanta.com

Robert M. Jacobs rjacobs@winnebanta.com                             

Ian S. Kleeblatt ikleeblatt@winnebanta.com                              

Gary S. Redish gredish@winnebanta.com                                 

Bruce R. Rosenberg brosenberg@winnebanta.com

Michael G. Stingone mstingone@winnebanta.com

Richard D. Wolloch rwolloch@winnebanta.com

Associates:

Amanda Gaul agaul@winnebanta.com

Aaron Joseph ajoseph@winnebanta.com

Marla Wolfe Taus mtaus@winnebanta.com

Ivette Vargas ivargas@winnebanta.com

Of Counsel:

Robert J. Kleeblatt rkleeblatt@winnebanta.com

Alice B. Newman anewman@winnebanta.com

2025 NJ Realty Transfer Fee – Bill s4666 / A5804 Read More »

Congressional Tax Bills are Beginning to be written – What does the initial version say about the Gift, Estate and GST exemptions?

News, Estate Tax / By

On May 9, Republicans on the House Ways and Means Committee released the first wave of their tax proposals as part of the overall budget reconciliation process. The Committee has scheduled a markup of tax reconciliation measures for May 13. As this is just the opening salvo, we expect new proposals, changes, and constant updates until the President signs a final bill.

  • The unified estate and gift tax exemption is made permanent to an inflation-indexed $15 million for taxable years beginning after Dec. 31, 2025. The generation-skipping transfer tax exemption is also permanently increased to an inflation-indexed $15 million.

Other important proposals that you will find of interest are:

  • Proposals making the rates for individuals, estates, and trusts enacted in the Tax Cuts and Jobs Act (TCJA) permanent with modifications for inflation. The expiration date of the standard deduction from TCJA is removed, and temporary increases in the standard deduction result in a deduction of $16,000 for individuals, $24,000 for heads of households, and $32,000 for joint returns. These increases would expire Jan. 1, 2029.

  • For Homeowners, the $750,000 ($375,000 married individual filing separately) limitation on principal residence acquisition indebtedness is made permanent, as is the exclusion of interest on home equity indebtedness from the definition of qualified residence interest.

  • Five modifications to qualified business deductions for pass-through entities under section 199A. These include making the deduction permanent and increasing the calculation amount from 20% to 22%. There is also the opportunity in some instances to apply the benefit to income derived from a specified service trade or business, which has historically been unavailable. An inflation index is also added after 2025.

Winne Banta Basralian and Kahn recommends that you schedule a meeting with one of the attorneys in our Tax, Trusts and Estates Department, which will allow you and your family to consider and finalize the most comprehensive and effective estate plan that fits your specific needs and goals. Do not overlook and forgo the value of the extra gifting power available to you while the exemption remains at a historical high.

Co-Chairs of the Tax, Trusts & Estates Department:

Martin J. Dever, Jr. mdever@winnebanta.com
Jonathan Kukin jkukin@winnebanta.com

Partners of the Tax, Trusts & Estate Department:

Arthur I. Goldberg agoldberg@winnebanta.com
Peter J. Bakarich, Jr. pbakarich@winnebanta.com
Doris Brandstatter dbrandstatter@winnebanta.com


Associates of the Tax, Trusts & Estate Department:

Marley A. Guerrera mguerrera@winnebanta.com
Sara E. N. Lerner slerner@winnebanta.com

Congressional Tax Bills are Beginning to be written – What does the initial version say about the Gift, Estate and GST exemptions? Read More »

Kenneth Lehn Honored By Essex County Bar Association

Vlog / By

On October 29, 2024, the Essex County Bar Association honored our partner, Kenneth Lehn, and others for 50 years of practice.  A video taped interview with him and about him with our senior managing partner, Joseph Basralian, and retired chancery judge, Harriet F. Klein, is posted here.  The Bergen County Bar Association similarly honored Ken and other 50 year practitioners on October 22.

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Bruce Rosenberg Secures variance approval from the Fair Lawn Zoning Board of Adjustment

Commercial Real Estate / By

Bruce Rosenberg has recently secured use variance approval for a Town Square Adult Medical Day Care from the Fair Lawn Zoning Board of Adjustment.     

This will be the first Town Square to be located in Bergen County.   Town Square provides a unique re-creation of a 1950’s type Town Square in which Reminiscence Therapy is used to treat members with memory loss issues.

City Hall
Little Blue House
PhilsNewstand
Recreation Center
Rosies Diner
Startlite Theater
Town Square Library

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A Squad 11

Winne Banta Associates Climb to New Heights

Vlog / By

The Winne Banta team never backs down from a challenge – even if that means climbing a 40ft wall!

Associates and interns from various departments – Tax, Trusts and Estates; Litigation; and Real Estate – learned the basics of climbing, bouldering, and falling (safely) from the wonderful staff at GOAT Climbing Gym (“GOAT”). GOAT, located on River Road in Hackensack, New Jersey is a community-focused climbing gym featuring 60ft competition walls, 40-60ft top rope climbs, and bouldering walls. It’s a fun and challenging environment and the Winne Banta team enjoyed the opportunity to support a local business, learn a new skill, and overcome the fear of heights (the floor does look quite far away from 40 ft up!). Altogether, the experience was an exercise of perseverance and strategic thinking, the same skills used by the Winne Banta team in their legal practice. They’re simply thankful to do so from the ground.

A Squad 8 1
Aaron 2 1

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Harraka Kachur

Dennis Harraka and Bogdan Kachur secure $3 Million Dollar Settlement

Litigation, News / By

Dennis Harraka and Bogdan Kachur secured a $3 million settlement against the City of Englewood, two of its police officers and a local restaurant. The police allowed an obviously drunk driver to leave the scene, without arresting him, after stopping him for a minor traffic offense. The driver had been drinking all evening including the previous 3-4 hours at the restaurant,  the El Tango Grill, which was only minutes from where the stop occurred. Within 20 minutes of releasing him, the driver rear-ended our client, Vladimir Diaz, on Route 4 in Paramus. Mr. Diaz suffered various injuries, spent 17 days in a coma and has been left with brain damage and other permanent conditions.

Dennis Harraka and Bogdan Kachur secure $3 Million Dollar Settlement Read More »

NJBiz Leaders in Law – Jonathan Kukin + Bruce rosenberg

News, Vlog / By

Winne Banta Basralian & Kahn is proud that two of our attorneys, Jonathan Kukin and Bruce Rosenberg have been selected as 2024 Leaders in Law award honorees by NJBIZ. NJBIZ will be honoring Jonathan, Bruce and other honorees at an event at the Somerset Palace on May 14.

Following an open nomination period, honorees were chosen by a panel of independent judges. Those selected were identified as legal professionals whose dedication to the industry and to their communities is outstanding.

Kukin Jonathan 1360 1
Rosenberg Bruce 1027 1

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