With lack of response from Laguna, I removed the control box cover to take a look. I did find a 20 amp ceramic fuse on the bottom right corner of the control board. After removing, I checked it with my DVOM. It was open. I didn't have the correct one on hand. It's small, 5mm x 20mm. So I then made up a "test pigtail" with an inline 15amp fuse (to be safe) and connected it to the boards' fuse terminals with some alligator clips. Now the lathe works as it should.
You can get the fuses almost anywhere and I'll get a few to have as spares for the next time this happens.
The biggest frustration of this whole ordeal, other than the lack of support from Laguna, is that the word "fuse" is not shown anywhere in the manual. Not even listed as a replacement part! Incredible waste of my time for a $2 part.
I really do like the lathe but I'm not impressed with Laguna support nor their Owner's Manual.