U.S. Virgin Islands law & politics
Owning your own business can be extremely rewarding, but getting it started is often a daunting prospect. Our team of experienced business attorneys has assembled a simple checklist of the steps you need to take to get your new company up and running.
Below are the key steps to start your new business in the…
A durable power of attorney is one of the simplest and most reliable ways to allow someone else to manage your finances if you are incapacitated and unable to act on your own accord. If you do not arrange for durable power of attorney, it’s likely your family will have to go to court to…
Throughout the 2016 campaign, then-candidate Donald Trump repeatedly voiced his distaste for the estate tax, which he and the others who oppose it have taken to calling the “death tax.” Although no legislation to repeal the tax has been proposed in Congress over the past few months, it certainly seems likely that lawmakers will try…
The time immediately following the death of a loved one can be incredibly stressful and hectic. If you have been appointed to the role of estate administrator, you will have a lot of work to do in the near future.
Here is a checklist of some of the most important responsibilities you must take care…
Are you wondering whether you qualify to receive benefits from the Economic Development Commission in the U.S. Virgin Islands? To be considered eligible for benefits, applicants must meet the following requirements:
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Over the past several months, the U.S. Internal Revenue Service has made some changes to the releasing of liens related to the estates of deceased individuals.
This started last summer, when the agency began funneling the processing of Form 4422 to its Estate Tax Lein Group. Form 4422 becomes necessary when an estate needs to…
Before you finalize any business contract, you will likely go through a period of negotiations to figure out all the details of the agreement in question. If you are new to the process of contract negotiation, it’s important to understand how you can advocate for your best interest without asking for too much and derailing…
During his campaign, President Donald Trump put forth a tax plan that would cap itemized deductions, barring single people from deducting more than $100,000 and preventing couples from deducting more than $200,000. This proposal would help raise more than $1 trillion over the course of a decade.
However, according to the Tax Policy Center…
If you own a business or have an ownership stake in a corporation, you will need to account for these activities in your estate planning. You have likely spent years building up your business, so the last thing you want is for the estate tax or other issues to significantly reduce its value upon your…
Virgin Islands Bureau of Internal Revenue Director Marvin Pickering has announced that businesses that are delinquent in paying their Virgin Islands Gross Receipts Tax can avoid penalties and interest if they pay by January 3, 2017.
The amnesty was included as Section 6 of Act No. 7930 (Bill No. 31-0448) approved by the 31st…
