SOURCE: Marks Paneth & Shron LLP

Marks Paneth & Shron LLP

November 09, 2010 09:15 ET

Emerging Growth Companies Engaged in Cross-Border Transactions Are "Global Start-Ups," Says Jeanne P. Goulet, Marks Paneth & Shron Senior Consultant

Entrepreneurs Must Understand Jurisdiction and Develop an International Tax Plan in Order to Thrive on the Global Stage, Adds Ms. Goulet

NEW YORK, NY--(Marketwire - November 9, 2010) -  Jeanne P. Goulet, CPA, a Senior Consultant in the Services for Emerging Growth Companies and Entrepreneurs Group at Marks Paneth & Shron LLP, has published an article in the Marks Paneth & Shron Library describing the role of jurisdiction in the tax structure of an emerging business.

According to Ms. Goulet, entrepreneurs whose businesses fit one of the following criteria must understand how international tax laws affect their business and which countries have the rights to tax their future profits as well as that of their owners and employees:

  • Engage in cross-border buy or sell or rent transactions;
  • Outsource the development of intellectual property outside of the home base;
  • Have employees spend time outside their home country; and
  • Strive to establish a beachhead in another country.

In the article, Ms. Goulet highlights:

  • The concept of jurisdiction;
  • Taxing rights of a country based on the principles of nationality and territoriality;
  • Outbound versus inbound transactions;
  • Common double taxation scenarios; and
  • Methods of alleviating double taxation.

The full text of Ms. Goulet's article, "A Look at Jurisdiction: Who Will Tax My Business?" is found online at the Marks Paneth & Shron library.

To speak with Ms. Goulet about decisions start-ups must make, please contact Itay Engelman of Sommerfield Communications at 212.255.8386 or via email at itay@sommerfield.com.

About Marks Paneth & Shron

Marks Paneth & Shron LLP is an accounting firm with nearly 475 people, of whom 64 are partners and principals. The firm provides businesses with a full range of auditing, accounting, tax, bankruptcy and restructuring services as well as litigation and corporate financial advisory services to domestic and international clients. The firm also specializes in providing tax advisory and consulting for high-net-worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional and financial services and energy clients. Visit www.markspaneth.com for more information.

About Jeanne P. Goulet, CPA

Jeanne P. Goulet, CPA, is a Senior Consultant at Marks Paneth & Shron LLP. A tax specialist, Ms. Goulet has more than 25 years of experience in both industry and public accounting.

Ms. Goulet spent the majority of her professional career with International Business Machines Corporation (IBM), ultimately serving as the Head of Tax of IBM Credit Corporation and a Tax Director of IBM.

Ms. Goulet holds a Master of Science in Accounting from the Stern School of Business at New York University. She is based in Marks Paneth & Shron's midtown Manhattan headquarters and resides in Armonk, New York.

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