A modification of existing law resulting from the Trade Facilitation and Trade Enforcement Act recently signed into law on February 24, 2016 significantly expands duty saving opportunities in the direct internet sales sector as it increases the dollar limits of shipments that qualify for duty free importation. This increase should be of particular interest to the fashion and luxury goods sector because their duty rates are high and the increased exemption level may make the provision of law a more viable tool...

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On March 3, 2016, DeVore & DeMarco joined a crucial, timely, and ongoing legal debate.  A debate about privacy and about security.  A debate about the power of the state and the power of a private corporation in the digital era.  On that date, on behalf of the Federal Law Enforcement Officers Association, the Association of Prosecuting Attorneys, and the National Sheriffs’ Association we filed an Amicus Curiae “Friend-of-the-Court” brief in U.S. District Court for the Central District of California...

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The World Trade Centers Associate would like to congratulate and welcome their newest Members: • World Trade Center Aruba, Aruba • World Trade Center Merida, Mexico The Applicant Groups presented a comprehensive plan for developing iconic World Trade Center Facilities with international trade services component. WTCA EXTEND A WARM WELCOME AND CONGRATULATIONS TO WORLD TRADE CENTER ARUBA AND WORLD TRADE CENTER MERIDA! They look forward to continuing to build and strengthen the global WTCA network and to working in partnership with all their members to...

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Carried interest has been at the forefront of tax reform proposals in recent years. Carried interest refers to the share of profits that many fund managers receive from managing fund capital. Typically, funds pay investment managers (or their affiliates) a management fee and a share of fund profits (often referred to as “carried interest”). Generally, the management fee is taxed as ordinary income, while income from carried interest is often taxed as capital gains. Since 2007, there have been various...

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The Netherlands has since long been a jurisdiction of choice for the establishment of international holding companies. Generally recognised benefits of using a Dutch (holding) company include an attractive participation exemption regime, extensive investment protection and tax treaty networks, no withholding taxes on interest and royalties and the cooperative approach of the Dutch tax authorities. The Stibbe Tax team has considerable knowledge of and experience in domestic and international matters such as mergers and acquisitions, private equity, finance structures, capital...

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Appellate Division holds that Town may be third-party beneficiary of a provision limiting the generator’s right to appeal property tax assessments in a supply agreement between an energy generating company and a power authority. In June 1997, Long Island Lighting Company entered into a “Power Supply Agreement” with Long Island Power Authority, whereby the Company agreed to sell and deliver to the Authority energy produced from its power generating facilities in Nassau and Suffolk Counties, including certain facilities located in...

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In case you missed it, EACCNY Member TREPP, LLC put out a research piece yesterday via email that discussed the dollar volume of loans from the 2005 to 2007 vintages that do not currently have the DSCR, LTV or debt yield needed to secure CMBS refinancing. If you would like to access it, you can click the link to the right. The dovish comments from the Fed had a lingering beneficial effect on the markets yesterday as US stocks rallied...

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Manufacturing’s pivot East in recent decades has opened up new opportunities for DS-Concept across the globe, but more recently we have registered demand to open up an office in Los Angeles to allow domestic clients to expand overseas and for foreign businesses to operate with ease in the US. The manufacturing industry’s rapid growth in California has been one of the main drivers of the state’s growth, with $149.79bn in manufactured goods exported in 2014, more than 11% of the...

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Daniel Glazer of Fried Frank LLP, weighs in on Stripe’s Atlas program and the considerations European startup founders need to make before deciding to tackle the US market. Many emerging companies considering expanding to the US have asked us about Stripe Atlas, Stripe’s new offering that cost-effectively combines Delaware incorporation, a taxpayer identification number (EIN), a Silicon Valley Bank account and integration with the Stripe payments network. The concept is clever: the eased access it provides to a US bank account and to Stripe is welcome,...

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Following the decision of the Court of Justice of the European Union (“CJEU”) in Schrems v Data Protection Commissioner and the subsequent statement of the Article 29 Working Party, transfers of personal data from the European Union (“E.U.”) to the United States (“U.S.”) under the Safe Harbor scheme are regarded as potentially unlawful. The European Commission has recently published a draft adequacy decision and detailed provisions for a proposed new data protection framework for the transfer of personal data known...

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