TAKE A CHANCE ON ME! Tax Planning During the Biden Administration
SO VERY HARD TO GO (NOT)! In Pursuit of Puerto Rican Tax Incentives
ISLA DEL ENCANTO - INTRODUCING BORICUA SPLIT DOLLAR
Isla del Encanto-Introducing Boricua Split Dollar
Effective July 1, 2024, Puerto Rico’s minimum wage will increase to $10.50 per hour. Additionally, employers now have until August 15, 2024 to file their annual payroll statement to maintain their insurance coverage through...more
Puerto Rico’s minimum wage will increase to $10.50 per hour from $9.50 per hour effective July 1, 2024. This increase was finally approved by the Minimum Wage Review Commission on June 13, 2024. With limited exceptions, the...more
When the Puerto Rico Minimum Wage Act, Act No. 47-2021, went into effect, in addition to the three hourly rate increases set out in the law, a new Minimum Wage Review Board appointed by the governor was to periodically review...more
On June 20, 2022, Governor Pedro Pierluisi signed into law Act No. 41-2022, instituting drastic changes to labor and employment laws in Puerto Rico and extending employment rights for employees in the private sector. In doing...more
On September 21, 2021, Puerto Rico Governor Pedro Pierluisi signed into law an Act that raises the hourly minimum wage from $7.25 to $8.50. Prior to this increase, the minimum wage in Puerto Rico had not been modified since...more
Citing factors such as inflation, population deceleration, migration, and the long-term economic effects of Hurricane Maria and the COVID-19 pandemic, Governor Pedro Pierluisi has sign into law the “Puerto Rico Minimum Wage...more
The holiday season is nearly upon us, and the shopping frenzy is about to commence. This annual phenomenon brings the hurried engagement of seasonal employees, with thousands of these retail elves helping manage the increased...more
On July 30, 2018, the governor of Puerto Rico signed Executive Order No. 2018-033, increasing the minimum wage for construction workers, enforcing laws requiring use of locally produced cement, and requiring the use of...more
Guidance on the Federal Employee Retention Benefit for Certain Employers Affected by Hurricane Irma and María - New Regulation or Official Guidance - The Puerto Rico Department of the Treasury issued Internal Revenue...more
Last month, we reported that the Governor of Puerto Rico announced his “Initiative to Reform the Labor Force,” which would have created significant employment law changes to increase the employment participation rate on the...more