STAMFORD. CONNECTICUT, APRIL 5 & 6, 2005
An important executive seminar
The recently enacted American Jobs Creation Act has made significant changes in the way the U.S. will tax income from international shipping activities. These changes include a new alternative tonnage tax that can be elected in lieu of the standard corporate income tax and long-awaited changes to "Subpart F" of the Internal Revenue Code that, if properly employed, will allow deferral of taxation on income from certain international shipping activities.
The effect of these changes is already being felt. Overseas Shipholding Group cited these changes in the tax laws as a significant reason why it was able to increase its takeover bid for Stelmar.
The expectation around the industry is that these changes will help level the competitive playing field in international shipping, and provide long needed tax relief to U.S. shipping interests.
Marine Log magazine and Blank Rome LLP will be presenting a high level executive seminar at the Stamford Marriott in Stamford, Connecticut on April 5 & 6, 2005 at which experts from Blank Rome and other leading authorities will provide a detailed explanation of the changes in U.S. tax laws, the opportunities they create, and how to take advantage of them.