2007

Law Firm Merger – Maritime Expertise

St. Louis-based law firm Thompson Coburn LLP and Chicagobased law firm Fagel Haber LLC have merged, creating one of the Midwest United State’s leading law firms. The combined firm has more than 330 attorneys with offices in St. Louis and Chicago – two of the mid-west region’s major business centers – and additional offices in Washington, D.C. and Southern Illinois.

US IRS Publishes Rules on Tax Exemptions

We re-print an informative email from Derek Betts, Partner at Seward & Kissel in New York and a leading tax attorney relied upon by the international shipping community. “This is to alert you to the fact that final and temporary IRS regulations, modifying the currently existing section 883 regulations that were published in final form in August of 2003, were published earlier this week on June 25, 2007. Section 883 is the U.S. code provision upon which most foreign shipping companies rely to claim exemption from tax in respect of their U.S. source shipping earnings. An IRS notice of public hearing was also concurrently published requesting written comments on the regulation changes by September 24, 2007 and setting a public hearing date of October 24, 2007 for comments to be presented.

Annexed hereto are copies of both IRS publications. We will be circulating later a memorandum summarizing/analyzing the changes made/proposed by these regulations. However, we set forth below the main highlights:

This is only an excerpt of Legal Matters – 07/05/2007

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