The process of buying a home in the U.S. Virgin Islands often comes with uncertainty and emotional ups-and-downs, as well as numerous questions and concerns related to mechanics of a closing in “America’s Paradise” and the financial aspects of the transaction. So when it’s finally time to close the deal, it might be tempting to
Tourism Industry Continues to Drive USVI Economy
The latest economic reports indicate that the summer tourist season in the U.S. Virgin Islands for 2014 was among the strongest in recent memory. This is good news for the territory, following a winter tourist season in which activity actually declined 0.9 percent compared to the same period the year before. The summer numbers, however
Dealing with Digital Assets Upon Death
As more aspects of people’s lives move online, managing numerous digital accounts becomes a complex process, and one that presents numerous challenges. These issues are not limited to just the account holders themselves. In fact, the real test may come after people pass away and their families are left to make sense of their digital
Importance of Sound Estate Planning
Like the old saying goes, there are only two certainties in life—death and taxes. Through effective estate planning, you can prepare for the future and address these two very important issues, as difficult as they may be and as little as you’d like to think about them on a daily basis.
Addressing Key End-of-Year Tax Planning Issues
Although you don’t need to officially file your taxes until April 15, 2015, there are numerous steps individuals and businesses should take before the end of the calendar year 2014 to help reduce the amount of taxes owed to the IRS next spring.
Unfortunately, gridlock in the U.S. Congress did not make it easy to
U.S. Virgin Islands Voters Approve Medical Marijuana—What’s Next?
On November 4, voters in the U.S. Virgin Islands approved the use of medical marijuana in the Territory, paving the way for legalization of producing, processing, manufacturing and distributing hemp for medicinal purposes in “America’s Paradise”. The measure received widespread support, passing by a margin of 56 to 43 percent.
The referendum was nonbinding, which
S Corp Versus C Corp: The Key Differences
When starting a new business or restructuring an existing one, you may choose to set up a corporation. The two most common options are the Subchapter S corporation and the C corporation.
These two varieties of corporations are actually quite similar in many ways — they are structured similarly, they both offer limited liability protection
Key Questions to Ask Your Business Attorney
One of the most important relationships business owners and executives have is in working with their business attorney. An experienced, highly qualified legal professional can be an invaluable team member and source of knowledge, advice and wisdom. Cultivating this relationship can reap rewards many times over.
A key aspect of this relationship involves open communication
What to Expect from USVI Governor-Elect Kenneth Mapp
It was a busy election cycle in the U.S. Virgin Islands, with the passage of a referendum on medical marijuana and the defeat of the proposed increase of senatorial terms by a wide margin. The Territory also has a new Governor-Elect in former Lt. Gov. Kenneth Mapp.
Mapp won a November 18 runoff against Donna
What Protections Are Available Under U.S. Copyright Law?
U.S. copyright law can be very difficult to truly understand, and the technological developments over the past decade couple decades have complicated matters to the extent that the law is still very much in flux.
In the United States and its territories, the ability to copyright a work requires that the work be the original