U.S. Virgin Islands law & politics
Selling a business is a major undertaking both in terms of the logistical elements and because of all the legal issues you must consider. The following are just a few of the legal challenges that could arise during the sale of a business:
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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…
One of the main reasons business owners decide to form a company in the structure of a limited liability company (LLC) or corporation is so they can avoid personal liability for business debts, if the business is unable to meet its obligations. However, there are situations in which courts will hold the owners, members or…
Homeowners, condominium and timeshare associations (“Associations”) often make the mistake of not filing tax returns based on the belief that they are exempt from having to do so. However, Associations are required to file tax returns like any other corporation, even if they’re not-for-profit.
Fortunately, most Associations don’t have much, if any, tax liability. This…
