Client Alerts

New Guidelines Regarding Calculation of Alternative Minimum Tax by Corporations

On March 28, 2016, the United States District Court for the District of Puerto Rico issued an order and opinion in the case Wal-Mart Puerto Rico Inc. v. Juan Z. Zaragoza Gómez, Civil No. 3:15-cv-03018 (“Walmart Case”), where it declared invalid one of the components of the Alternative Minimum Tax (“AMT”) calculation, more specifically Section .

CHANGES TO THE PUERTO RICO DEPARTMENT OF HEALTH’S

REGULATION NUMBER 8766 OF 2016 During the summer of 2016 the Commonwealth of Puerto Rico’s Department of Health (the “Department of Health”) adopted Regulation No. 8766 of 2016 (“Regulation No. 8766”), repealing Regulation No. 155 of 2015, which had been enacted to regulate the use, possession, farming, manufacture, dispensation, distribution and investigation of medical marihuana in .

New law requires that commercial establishments provide two methods of payment, one of which must be through credit or debit card

On May 16, 2016, Governor Alejandro García Padilla enacted Act No.46-2016 to amend Act No. 42-2015 (as amended, the “Act”). The Act was adopted to help reduce tax evasion.

New statute prohibits commercial establishments from requesting consumers’ personal information

On May 3, 2016, Governor Alejandro García Padilla enacted Act Number 38-2016 (the “Act”). The Act prohibits all commercial establishments operating in Puerto Rico from requesting or collecting consumers’ personal information as a requirement to complete a commercial transaction.

Client Alerts

New Guidelines Regarding Calculation of Alternative Minimum Tax by Corporations

On March 28, 2016, the United States District Court for the District of Puerto Rico issued an order and opinion in the case Wal-Mart Puerto Rico Inc. v. Juan Z. Zaragoza Gómez, Civil No. 3:15-cv-03018 (“Walmart Case”), where it declared invalid one of the components of the Alternative Minimum Tax (“AMT”) calculation, more specifically Section .

CHANGES TO THE PUERTO RICO DEPARTMENT OF HEALTH’S

REGULATION NUMBER 8766 OF 2016 During the summer of 2016 the Commonwealth of Puerto Rico’s Department of Health (the “Department of Health”) adopted Regulation No. 8766 of 2016 (“Regulation No. 8766”), repealing Regulation No. 155 of 2015, which had been enacted to regulate the use, possession, farming, manufacture, dispensation, distribution and investigation of medical marihuana in .

New law requires that commercial establishments provide two methods of payment, one of which must be through credit or debit card

On May 16, 2016, Governor Alejandro García Padilla enacted Act No.46-2016 to amend Act No. 42-2015 (as amended, the “Act”). The Act was adopted to help reduce tax evasion.

New statute prohibits commercial establishments from requesting consumers’ personal information

On May 3, 2016, Governor Alejandro García Padilla enacted Act Number 38-2016 (the “Act”). The Act prohibits all commercial establishments operating in Puerto Rico from requesting or collecting consumers’ personal information as a requirement to complete a commercial transaction.