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

For the first time in nearly a decade the federal minimum wage will increase Tuesday, July 24, 2007 from $5.15 per hour to $5.85.   The $0.70 increase is scheduled to continue each summer for the following two years and will stop at $7.25 per hour in 2009.

Attorney Ravinder S. Nagi, Chair of the Labor and Employment Practice Group at Tom Bolt & Associates P.C., noted that most Virgin Islands employers and employees are not affected by the increase this year, because since January 1, 2007 the Virgin Islands’ minimum wage was increased to $6.15 per hour- higher then the impending $5.85 federal minimum wage increase. 

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William Neukom, President Elect of the American Bar Association, announced Monday the appointment of Virgin Islands attorney Tom Bolt to the American Bar Association's Standing Committee on Legal Education.  Bolt has served the legal profession in the area of continuing legal education in the past,  having served for more than 12 years as a member of the ALI-ABA Committee on Continuing Legal Education.

Bolt has been at the forefront of legal education in the United States Virgin Islands, having sponsored several CLE events in the Territory and having drafting the original MCLE rule for the Territory's legal profession.  "I look foward to working with the other members of the ABA Standing Committee," Bolt said.  "It is my sincere hope that we can bring continuing legal education to attorneys in the more remote and rural areas throughout the country."

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Tom Bolt, Chairman of the Board of Alliance Title & Trust Company, LLC, one of the largest and most comprehensive title insurance agencies in the United States Virgin Islands, announced the appointment Tuesday of its new President, Christopher R. Johnson.  “Johnson, an attorney  who was recently working with the law firm of Morgan, Lewis, and  Bockius in Philadelphia brings significant experience in real estate and title insurance to Alliance.” Bolt said.  “In addition to being a partner in his own title company, Chris has a  thorough knowledge of real estate, real estate development and finance and the title industry.  He will be an invaluable asset to our continuing to grow Alliance Title & Trust Company.”

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Tom Bolt, Managing Attorney of Tom Bolt & Associates, PC, announced on Monday that Carl R. Williams, formerly with the Law Offices of Michael Dunston, would be joining the firm to Chair its Real Estate and Estate Planning Practice Group.

"Carl has served the real estate needs of his clients for a number of years.  We look forward to joining our practice group and building upon one of the best real estate practice groups in the Virgin Islands." Bolt said.  "In addition, Carl will be initiating a new key practice group focused on estate planning."

Asset protection in the Virgin Islands is a new area.  The Virgin Islands Bar Association is currently reviewing the trust laws to make them more user friendly.  "We hope to offer the best of on shore and the best of off shore." Bolt said.

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Tom Bolt, Managing Attorney of Tom Bolt & Associates, PC, addressed the Annual Meeting of the Network of Leading Law Firms at their Annual Meeting in New York this past week.  Bolt explained the Virgin Islands Economic Development Program that allows taxpayers to pay only 10% of their federal income tax liability and no other state or federal taxes.

"The IRS's recent tax opinion, IRS Tax Opinion 76-2006, is a green light for the software industry," Bolt told the international group of attorneys.  "The IRS has said if you are a software developer and establish your operations in the United States Virgin Islands, you can exempt your sale of software anywhere in the world.  In addition, if you place your servers in the Territory and customers download your software or utlize your programs throughout the world, that income is exempt too." Bolt said.  "It is a great undiscovered program just waiting to be tapped."

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Monica M. Howard, an attorney in the Government Relations Practice Group at Tom Bolt & Associates, PC, recently returned from Washington, DC where she had the opportunity to meet with various national goverment leaders.  Attorney Howard was attending the Annual Government Relations School sponsored by the American Society of Association Executives.  While in Washington, she also received a special invitation to attend the the Democratic Congressional Campaign Committee fundraiser at Union Station's Columbia Hall.

While in Washington, Attorney Howard met Speaker of the House Nancy Pelosi, Majority Leader Steny Hoyer, and Ways and Means Committee Chairman Charles Rangel.  "I was particular impressed with Chairman Rangel," Howard noted.  "He is an ardent supporter of the Virgin Islands.  I was happy that I was able to express the Territory's appreciation for his advocating on behalf of the Territory."

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Governor John P. deJongh, Jr. announced Saturday at the Annual Meeting of the Virgin Islands Territorial Association of REALTORS at Caneel Bay on St. John that President Bush had signed a bill that had been stalled in the U.S. Congress that would allow the Legislature of the Virgin Islands to implement special assessment rates for real property tax bills.

Tom Bolt, General Counsel for VITAR explained to the group that previously the federal court had ruled that the local goverment did not have the authority to provide special assessment rates.  "This put homestead, veterans, senior citizens, and disabled persons assessment rates in jeopardy." Bolt explained.  "With the new law in place, these rates are now authorized by law." Attorney Bolt explained. 

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Tom Bolt, Chairman of the Salvation Army Advisory Board for the St. Thomas Corps announced on Friday, that the Commissioner Lawrence Moretz, Eastern Territory Commander for the Salvation Army, has appointed a six member National Assessment Team to review Virgin Islands operations.  "Commissioner Moretz upon meeting with Virgin Islands Governor John P. deJongh during the St. Thomas Corps' recent 90th Anniversary Celebration committed to building and reinforcing existing relations with the Government of the Virgin Islands." Bolt said.

"I believe the National Assessment Team is the first step in the Salvation Army returning to the forefront in providing social services in the Virgin Islands.  With Governor deJongh promoting private public partnerships the time is right for the Salvation Army to review the needs of our island community and determine where we may serve best." Bolt concluded.

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