News & Analysis as of

Puerto Rico Tax Planning

DLA Piper

What the One Big Beautiful Bill Act’s Tax Provisions Mean for Businesses Operating in Puerto Rico

DLA Piper on

President Donald Trump recently signed into law the bill commonly known as the One Big Beautiful Bill Act (OBBBA). On July 4, 2025, the OBBBA made permanent many of the provisions of the Tax Cuts and Jobs Act of 2017 (TCJA)...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Remote Work in Puerto Rico: A Legal Update for Global Employers

Puerto Rico has recently relaxed its requirements for remote work, implementing significant changes. The first set of changes occurred in 2022 with the enactment of Law 52-2022....more

Littler

Puerto Rico Department of the Treasury Announces 2025 Limits on Qualified Retirement Plans

Littler on

On January 23, 2025, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to...more

Littler

Puerto Rico Department of the Treasury Announces 2024 Limits on Qualified Retirement Plans

Littler on

On January 31, 2024, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans. Pursuant to...more

Littler

Puerto Rico Department of the Treasury Announces 2022 Limits on Qualified Retirement Plans

Littler on

On January 14, 2022, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 22-01 (CL IR 22-01) announcing the applicable 2022 limits for Puerto Rico qualified retirement plans. ...more

Gerald Nowotny - Law Office of Gerald R....

TAKE A CHANCE ON ME! Tax Planning During the Biden Administration

Take a chance on me series discusses niche strategies to achieve tax reduction and deferral. #taxstrategy #ppli #pooledincomefund #maltapensionplan #estateplanning ...more

Gerald Nowotny - Law Office of Gerald R....

TAKE A CHANCE ON ME! Tax Planning During the Biden Administration

Nowotny On Death and Taxes episode ,Take A Chance On Me! focuses on innovative strategies for tax reduction and deferral. Not only are we good at creating the ideas but we're good at implementing the ideas as well. #ppli...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Puerto Rico Government Plan-to-Private Plan Rollovers Allowed

On January 20, 2021, the Puerto Rico Department of the Treasury (Departamento de Hacienda, commonly known as “Hacienda”) issued Administrative Determination No. 21-01 (AD 21-01), which provides that lump-sum distributions...more

Gerald Nowotny - Law Office of Gerald R....

SO VERY HARD TO GO (NOT)! In Pursuit of Puerto Rican Tax Incentives

Live in the United States and gain the benefits of Puerto Rican tax incentives! ...more

Gerald Nowotny - Law Office of Gerald R....

SO VERY HARD TO GO (NOT)! In Pursuit of Puerto Rican Tax Incentives

Nowotny On Death and Taxes, episode #30 focuses on planning strategies to minimize the impact of any potential tax increases in 2021. A business owner can repatriate the profits of the Puerto Rican exempt company without...more

Gerald Nowotny - Law Office of Gerald R....

So Very Hard to Go (Not)! In Pursuit of Puerto Rican Tax Incentives

So Very Hard to Go - The Commonwealth of Puerto Rico has had a hard time in the last ten years. PR has suffered a combination of devastating events including the Island’s bankruptcy, a hurricane and COVID19. The Puerto...more

Gerald Nowotny - Law Office of Gerald R....

ISLA DEL ENCANTO - INTRODUCING BORICUA SPLIT DOLLAR

Isla del Encanto - Boricua Split Dollar: The tropical paradise for tax planning! #splitdollar #taxplanning #estateplanning #financialadvisor #insurance ...more

Gerald Nowotny - Law Office of Gerald R....

Isla del Encanto-Introducing Boricua Split Dollar

Nowotny On Death and Taxes podcast episode #28, Introducing Boricua Split Dollar discusses combining the best of Puerto Rican tax incentives with the best sophisticated high end life insurance planning to produce superior...more

Gerald Nowotny - Law Office of Gerald R....

Isla del Encanto – Introducing Boricua Split Dollar

This article focuses on a combination of techniques, the use of a Puerto Rican tax-exempt company and the loan method of split dollar life insurance. What’s different in this approach is the fact that the business owner does...more

Gerald Nowotny - Law Office of Gerald R....

[Webinar] En mi Viejo San Juan - Puerto Rican Tax Incentives - October 6th, 2:00 pm - 3:00 pm EST

What we'll cover: - What is Act 22? - What is Act 20? - Requirements for U.S. Taxpayer - Planning Examples...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Puerto Rico Issues Guidance for Disaster Relief Distributions From Tax-Qualified Retirement Plans Due to 2020 Earthquakes

In response to the earthquakes that since January 6, 2020, have shaken Puerto Rico, on February 18, 2020, the Puerto Rico Department of the Treasury (known by its Spanish name as “Hacienda”) issued Circular Letter of Internal...more

Littler

Puerto Rico Treasury Department Issues Post-Earthquake Rules for Qualified Retirement Plan and IRA Distributions and Loans

Littler on

On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter Number 20-09 (CC RI 20-09) to provide special rules and procedures applicable to distributions from qualified...more

Littler

Puerto Rico Department of the Treasury Announces 2020 Limits on Qualified Retirement Plans

Littler on

On December 28, 2019, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 19-17 (CL IR 19-17) announcing the applicable limits for Puerto Rico qualified retirement plans for 2020....more

Littler

Littler Global Guide - Puerto Rico - Q4 2018

Littler on

New Regulation Adopted to Administer Unemployment Insurance - New Regulation or Official Guidance - On November 8, 2018, Puerto Rico’s Department of Labor and Human Resources published the Regulation to Administer the...more

Littler

Hurricane Maria's Aftermath, Part II: Puerto Rico Government Provides Various Exemptions and Extensions to Multiple Upcoming...

Littler on

In the aftermath of Hurricane Maria's catastrophic impact on Puerto Rico, in order to assist in rebuilding and recovery, Puerto Rico’s governor and several agencies have issued multiple exemptions to previously established...more

Bilzin Sumberg

Inbound and Outbound U.S. Tax Planning for Bona Fide Residents of Puerto Rico

Bilzin Sumberg on

Since Puerto Rico enacted the “Individual Investors Act” (Act 22) and the “Export Services Act” (Act 20) in 2012, much press has been devoted to the number of high-net worth U.S. taxpayers (including citizens and green card...more

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