Businesses of all types and sizes throughout the United States, Mexico and beyond bring their disputes to Gardere's litigation team and receive practical, responsive, boutique-style attention in return. Our clients have access to the firepower and value of a well-known and highly-regarded Firm's capabilities and interdisciplinary strengths.
Gardere has a national and international energy practice formed around our Energy Industry Team, which is a multidisciplinary group of approximately 80 attorneys with diverse backgrounds, experience and skills specific to the energy industry. Our team includes attorneys who have served as in-house counsel for major energy companies, providing a depth of insight into our clients' needs, issues and concerns. We understand and regularly practice in virtually every sector of the energy, and we represent a wide variety of industry participants from multinational corporations to individuals.
From our offices in the United States and Mexico, our International Practice helps clients operate in today’s global economy. We have more than 30 professionals operating as a boutique within an Am Law 200 law firm and are able to provide focused service with the resources of a large firm. We understand that clients who are engaged in the global marketplace need lawyers who can operate seamlessly across multiple jurisdictions. Our international experts are multi-lingual, are culturally fluent and intimately familiar with various legal systems across the world, especially those in Latin America. Whether you need help with commercial transactions, regulatory matters, customs and import regulations, immigration matters, M&A and joint ventures, international disputes, or international tax planning, Gardere’s international team is here to assist you.
We represent domestic and foreign private funds in all aspects of fund formation, fund operations, platform and add-on acquisitions, and portfolio company operations. Our team has a reputation for being the go-to-lawyers for private equity funds, hedge funds, venture capital funds and family offices. We are known for our vast deal experience, the efficient way we staff and manage our work, and the way we maintain our relationships. We get deals done with sophisticated, strategic, and practical advice tailored to the needs of our clients.
*Not admitted to practice law.
On Feb. 10, 2010, the Texas House of Representatives' Committee on Ways and Means will hold a hearing to review several existing sales tax exemptions, including an important one for certain ships and ship equipment. This hearing is part of an interim study to determine if the body should consider repealing this and other sales tax exemptions when the full legislature next meets in 2011.
Interim studies include public hearings, as well as other opportunities to brief legislators and staff on the relevant topics. The studies also lead to written reports that are circulated to all members of the legislature. This means opportunities exist for your position on an issue to be included in - or excluded from - the results of a legislative study. These studies typically result in legislation being introduced in the next legislative session.
If your company is in the maritime industry or heavily relies upon it, you will need to be prepared to educate legislators on how such a sales tax exemption repeal will negatively impact your business in Texas.
The current sales tax exemption for certain ships and ship equipment is found in Section 151.329 of the Texas Tax Code. It states that the following are exempt from Texas sales tax:
The sales tax exemption for certain ships and ship equipment was expected to cost the state $31 million in 2009, and is projected to rise to $42 million by 2014. With the state projecting a multi-billion dollar shortfall next year, it is possible that lawmakers will consider eliminating such exemptions in order to help solve the state's fiscal problems.
Gardere has a very experienced and effective Austin-based government relations practice for legislative and regulatory matters. With more than 100 years of combined experience lobbying the Texas Legislature, Gardere represents Fortune 10 companies, trade associations, privately held companies and public entities. If you have any questions about the content of this alert or require additional information, please contact Gardere Partners Mark Vane (email@example.com or 512.542.7077) or Kimberly A. Yelkin (firstname.lastname@example.org or 512.542.7001).
IRS CIRCULAR 230 DISCLOSURE:
This communication has not been prepared as a formal legal opinion within the procedures described in Treasury Department Circular 230. As a result, we are required by Treasury Regulations to advise you that for any significant Federal tax issue addressed herein, the advice in this communication (including any attachments) was not intended or written to be used, and it cannot be used by the taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer.
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