Virgin Islands Law Blog : Virgin Islands Lawyer & Attorney : Tom Bolt & Associates Law Firm : St. Thomas, St. John, St. Croix, Water Island, US Virgin Islands

Tom Bolt, Managing Attorney of Tom Bolt & Associates, P.C., and General Counsel for the USVI Hotel & Tourism Association, during the General Meeting of the Association on Wednesday at the Emerald Beach Hotel proposed that the VI Taxicab Commission adopt a “Taxicab Riders Bill of Rights”. Judith Wheatley, Executive Director of the VI Taxicab Commission was the keynote speaker at the Hotel and Tourism Association meeting.

In addressing the members of the Hotel and Tourism Association, Wheatley noted that the Taxicab Commission was under new leadership and committed to the customer service. When the floor opened to questions, Bolt proposed that the local Commission consider adopting a “Taxicab Riders Bill of Rights” that would clearly delineate the rights that Virgin Islands taxicab riders can expect.

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Governor John P. deJongh, Jr. has signed an Executive Order which sets the dates for payment, delinquency, and appeal of 2006 U.S. Virgin Islands real property taxes. Governor deJongh's Executive Order states that the Tax Assessor has determined that all 2006 real property tax bills to both residential and commercial property owners have been issued and that new dates for the payment of these bills, when they become delinquent and the deadline for appeal are now required.  The Governor has set July 1, 2009 as the date that all 2006 real property tax bills shall be due and payable and such bills shall be delinquent if not paid before July 31, 2009.  The last day for filing an appeal of the 2006 real property tax assessment is set for August 14, 2009.

For additional information, the U.S. Virgin Islands taxpayers should contact the Office of the Tax Assessor on each respective island: on St. Croix: (340) 773-6449; on St. Thomas: (340) 776-8505 and on St. John: (340) 776-6767.

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"The Road to Family Economic Success" was the call to action at Governor John P. de Jongh's Summit on Poverty and Economic Opportunity which was convened at the Carambola Resort on St. Croix on Friday, May 8th.  The Summit was presented in collaboration with the National Governor's Association and Governor de Jongh's Children and Families Council.

Tom Bolt, Managing Attorney of Tom Bolt & Associates, P.C., the leading business law firm in the United States Virgin Islands, was a panelist in the Summit's discussion on housing.  Bolt currently serves as President for Habitat for Humanity of the U.S. Virgin Islands, Chair of the Territory's Salvation Army Advisory Board, and Counsel to the Virgin Islands Territorial Association of Realtors.

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Tom Bolt & Associates, PC, one of the U.S. Virgin Islands' leading full-service law firms, has announced that it has formed a Asset Stabilization and Strategic Economic Response Team (ASSERT) to assist its clients in addressing business challenges posed by current economic conditions. The multi-disciplinary team consists of attorneys who bring a wide range of practice proficiencies and insights to help local businesses weather the rapidly changing economic climate in the Territory.

“Our closely integrated practice groups have enabled us to formalize this team and align our service offerings with the needs of our clients,” said Tom Bolt, Managing Attorney of the Firm, and Chair of the Firm’s Real Estate & Financial Services and Government Relations Practice Groups. “Our  firm is dedicated to our clients and helping them meet the challenges they face. ASSERT evolved as our greatest resources—our legal talent—came together to tackle the complex challenges that the current economic conditions are posing for Virgin Islands businesses.”

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Attorney Paula D. Norkaitis, Senior Litigation Counsel in the Tom Bolt & Associates, P.C. Litigation Practice Group,  recently was successful in arguing a case for the principle of abatement with regard to criminal convictions in the U.S. Virgin Islands.

Norkaitis had represented defendant, Edwardo Carmona, Jr., who was convicted at trial of first degree murder by a jury before the Honorable Michael Dunston. Carmona was sentenced to life imprisonment on April 4, 2008.

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The St. Thomas Coastal Zone Management Committee agreed with the position of the Friends of Mandahl Thursday evening disapproving a proposal for a large-scale marina and housing development in Estate Mandahl to cheers and applause from the public.   The Friends of Mandahl represented by environmental counsel Nycole Thompson of Tom Bolt & Associates, P.C. had advocated against the project as it did not comply with the criteria established by law for coastal zone projects in the Territory. “The CZM decision to deny Mandahl Bay Holdings' permit applications is a victory for both the community and for the environment.”  Thompson said.

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The recently enacted economic-stimulus law contains a number of provisions but hidden within the legislation is an unusually attractive new tax break for many homebuyers -- if they can only figure out how it works.

The new law sweetens a provision known as the "first-time homebuyer credit." In essence, if you meet certain qualifications, such as buying a home from Jan. 1 through Nov. 30 this year, you may be eligible for a tax credit of as much as $8,000. You also have a choice of claiming the credit on your federal income-tax return for 2008 or 2009. A credit is typically more valuable than a deduction, since it eliminates your taxes on a dollar-for-dollar basis -- and in this case, you may receive the credit even if you don't owe any taxes.

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One of the most significant tax provisions contained in the recently enacted American Recovery and Reinvestment Act of 2009 might prove helpful to certain taxpayers looking to restructure their balance sheets.

A debtor generally recognizes income from the cancellation of its debt. A debtor recognizes COD income when it purchases the debt instrument for less than the adjusted issue price of the debt or exchanges an old obligation for a new obligation with a reduced adjusted issue price from the old obligation. For this purpose the same result occurs upon a modification of debt that is treated as an exchange. A debtor also recognizes COD income when a person who bears a relationship to the debtor described in Code section 267(b) or Code section 707(b) acquires the debtor's debt for less than the adjusted issue price of the debt.

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A hearing officer on Thursday ruled that the Department of Licensing and Consumer Affairs had the right to fine two companies and revoke their solicitors' licenses for doing sidewalk promotions in downtown Charlotte Amalie.

In August, Caribbean Fun Stay and K&R Promotions filed two actions against DLCA pertaining to their solicitors' licenses. One was an administrative complaint against DLCA, arguing that Commissioner Kenrick Robertson overstepped his bounds by fining the two companies and revoking or denying their solicitors' licenses. The second was a complaint in District Court, arguing that DLCA denied the two companies their due process rights - the constitutional guarantee to be treated fairly and not unnecessarily deprived of rights or property.

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