We provide skilled counsel in all aspects of a business, from the formation of a new venture to comprehensive reorganizations of public companies doing business in Puerto Rico. We assist our clients to form corporations or limited liability companies, prepare operating agreements, shareholder agreements and joint venture agreements, negotiate commercial leases, negotiate and prepare distribution and other contracts, procure financing for their projects and resolve day-to-day legal problems. Our knowledge of tax law permits us to advise our clients as to the best vehicle to do business in Puerto Rico with the minimum tax costs. We advise our clients in all legal matters related to the establishment of operations in Puerto Rico, including providing assistance in obtaining government incentives to establish a new business or expand an existing operation. We also represent our clients in business acquisitions, due diligence reviews, mergers, corporate reorganizations, and liquidations. Transactions are structured to minimize tax implications and rulings from the Department of Treasury are requested when necessary to establish the tax consequences of a transaction.
We represent our clients before tax authorities in the process of obtaining, renegotiating or extending tax exemption grants for their industrial or service units. We also assist our clients in all legal aspects related to tax exemption and investment tax credits under other special laws (such as tourism, historic buildings, air transportation, agriculture or recycling).
The Firm's tax practice is broad in scope, dealing with the Puerto Rico Internal Revenue Code from cover to cover as well as municipal taxes. We perform tax research and provide counseling and planning tools to our clients in the areas of commonwealth and federal income tax, municipal license tax, commonwealth excise and property tax, sales and use taxes, municipal excise tax on construction, and estate and gift taxes. We assist nonprofit organizations in the process of obtaining tax-exempt status from the Treasury Department or the Internal Revenue Service. We represent clients before federal, commonwealth, and municipal tax authorities in the audit process and engage in tax litigation, when necessary. We also assist our clients to comply with the filing requirements under the tax laws and provide services to obtain or renew internal revenue licenses for particular trades. We also provide counseling in the adoption, administration and qualification of employee retirement benefit plans. The Firm's experience in the sales and use tax system is widely recognized. We have been actively participating in the implementation of the sales and use tax (state and municipal) and we have helped clients with the registration and reporting requirements.
We assist our clients in preparing wills and trust documents and in negotiating option and purchase agreements, as well as to register trademarks and service marks under Puerto Rico law. We also assist our clients in the registration of property located outside of Puerto Rico for sale in Puerto Rico.
We counsel clients in the health care area and managed care concept. We also advise clients as to price regulations, and regulatory requirements for the sale, manufacture or distribution of medications in Puerto Rico. We also advise clients regarding legal and ethical issues related to the marketing of prescription drugs in Puerto Rico. The Firm has developed particular expertise in the registration of medicines and in dealing with regulations related to controlled substances. We can also assist pharmaceutical companies to comply with the provisions of Pharmacy Law and to obtain a license as sales agent.
The firm has ample experience in assisting corporate clients in their relationship with government agencies and in the legislative and regulatory process.
We provide services as registered agent of limited liability companies and corporations.