By L&S Lighting

Visplay and Flux Join the Group.

The portfolio of lighting and modular solutions for commercial projects is now complete with the addition of Visplay and Flux.

L&S Group, the global leader in the design and production of bespoke and technologically integrated LED lighting systems and solutions, has finalized an international strategic step with the acquisition of Visplay, a group focused on modular electrified structures dedicated to the retail vertical, headquartered in Germany in the prestigious Vitra Campus area.

This step strengthens both our offering and our international presence in the Retail and Contract sectors.

Visplay is the leader in the design and manufacturing of high-quality electrified modular structures for retail applications. Its versatile, functional and innovative solutions are designed to optimize and enhance store layouts, office interiors and exhibition areas. Visplay has a long-standing history of collaboration with architects, designers and leading global brands.

The acquisition of Vislay follows that of Flux, completed at the end of February. Flux is a designer and manufacturer of lighting solutions for the luxury retail sector. Among its clients are major international players and leading fashion and luxury Made in Italy brands.

Each company will continue to operate seamlessly under the new ownership, and the dedicated commercial contact remains unchanged.

By Prager Metis

The landscape of sales tax compliance has fundamentally shifted since the 2018 South Dakota v. Wayfair Supreme Court decision. What once required physical presence in a state to trigger tax obligations now extends to businesses with significant economic activity, creating new challenges for companies operating across state lines.

Understanding Physical vs. Economic Nexus

Traditional physical nexus remains straightforward—having offices, warehouses, employees, or even attending trade shows in a state typically establishes tax obligations. However, the Wayfair decision introduced economic nexus, which focuses on sales volume and transaction counts rather than physical presence.

Most states now require businesses to collect and remit sales tax once they exceed $100,000 in annual sales or 200 transactions within the state. Notable exceptions include California, New York, and Texas, which set higher thresholds at $500,000. Delaware, Montana, New Hampshire, and Oregon don’t impose state sales tax.

Critical Compliance Steps

Businesses must conduct nexus studies to identify where they owe taxes. This involves analyzing sales data by state, tracking transaction volumes, and maintaining detailed records. Proper accounting requires treating collected sales tax as a liability, not revenue, with accurate journal entries and regular reconciliation.

International Considerations

Foreign companies face additional complexities, including entity registration challenges, currency conversion requirements, and distinguishing between VAT and sales tax obligations. Despite lacking physical U.S. presence, international businesses may still owe state taxes based on their American customer base.

Technology and Professional Support

Modern businesses benefit from automated tax software integrated with ERP systems, but technology alone isn’t sufficient. Professional tax advisors help navigate varying state requirements, conduct compliance audits, and develop ongoing monitoring systems.

Proactive compliance prevents costly penalties and protects business reputation. Companies should establish regular assessment schedules, maintain comprehensive documentation, and stay current with evolving state tax laws to ensure long-term success.

by Mowery & Schoenfeld, LLC

President Trump signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, bringing sweeping tax changes for businesses. The legislation builds on key provisions from the 2017 Tax Cuts and Jobs Act (TCJA), while introducing several new benefits aimed at reducing business tax burdens and encouraging investment, manufacturing, and innovation.The following highlights the new or modified provisions, but it is not an exhaustive list.

100% bonus depreciation is back

Under prior law, bonus depreciation was scheduled to phase out, reaching 0% by 2027. The new law permanently restores 100% bonus depreciation for eligible property placed in service on or after Jan. 19, 2025. This change allows businesses to fully deduct the cost of qualifying equipment and other assets in the year of purchase, substantially improving cash flow. The section 179 expensing provision limit is boosted to $2.5 million, indexed for inflation, with a phase-out beginning at $4 million for the cost of qualifying property.

Additionally, a new provision for bonus depreciation was added that allows for 100% deduction for real property directly related to domestic manufacturing, but only for property beginning construction after Jan. 19, 2025, and placed in service before Jan. 1, 2030.

Qualified small business stock exclusion expanded

The updated rules for Qualified Small Business Stock (QSBS) under Section 1202 offer expanded tax benefits for investors. Now, capital gains on QSBS can be excluded on a tiered basis: 50% for stock held over three years, 75% after four years, and a full 100% exclusion after five years. These changes apply to stock issued or acquired after the law takes effect. The per-issuer gain cap increases from $10 million to $15 million, with inflation adjustments starting in 2027. Additionally, companies can now qualify as small businesses with up to $75 million in gross assets (up from $50 million), also indexed to inflation beginning in 2027.

Expanded R&D expensing

Domestic research and development costs incurred beginning after Dec. 31, 2024, can now be fully expensed rather than amortized. Additionally, an election can be made to expense unamortized domestic R&D costs over one or two years, starting for tax years after Dec. 31, 2024. This permanently reverses the TCJA provision that required domestic R&D expenses to be capitalized and amortized over five years. Foreign R&D expenses are still required to be capitalized and amortized over 15 years. Businesses must still comply with documentation and accounting method requirements, with further guidance on implementation expected from the Treasury.

Interest limitation calculation reverts to EBITDA

Another important shift: the new law permanently returns the business interest deduction limitation to an EBITDA-based calculation for tax years beginning after Dec. 31, 2024. Previously, the calculation was basically based on EBIT, but now with the law change, businesses can add back depreciation, depletion, and amortization to the interest limitation calculation, thus potentially increasing the deductible amount of interest expense.

The new rule requires businesses to calculate the interest deduction limit before applying any rules that require interest to be capitalized, except in two specific cases: interest related to straddles (IRC 263(g)) and self-produced property (IRC 263A(f)). This change significantly reduces planning opportunities that previously allowed businesses to capitalize interest into inventory, property, or accounts receivable under provisions like IRC 266 or IRC 263A. In short, businesses will have less flexibility to shift interest expenses to the balance sheet to preserve deductibility.

Reforms to international taxation

Under the new rules for multinational businesses, the Section 250 deduction now allows a 40% deduction for GILTI — renamed Net CFC Tested Income (NCTI) — and a 33.34% deduction for FDII, now called Foreign-Derived Deduction Eligible Income (FDDEI). Both NCTI and FDDEI are permanent reductions and are effective Jan. 1, 2026. The prior benefit of the “net deemed tangible income return,” which reduced GILTI and FDII, has been eliminated. The BEAT (Base Erosion and Anti-Abuse Tax) rate also permanently increases to 10.5%.

Additionally, businesses face tighter limits on using deductions to offset foreign income. Only deductions directly tied to NCTI may be used for the foreign tax credit, and FDDEI can no longer be reduced by interest or R&D expenses, which narrows the potential tax benefits.

Other notable business tax law changes

• Establishes a 1% floor on corporate charitable deductions
• Makes the 20% passthrough entity deduction permanent
• Limits disallowance of on-premises meal deductions starting in 2026
• Makes the excess business loss provisions permanent
• Terminates many of the clean energy tax incentives previously introduced by the Inflation Reduction Act

What is not in the OBBBA

• No corporate tax rate changes, nor a separate domestic manufacturer rate
• No changes to deductibility of pass-through entity taxes, nor a corporate state and local tax limitation
• No changes to the controversial carried interest provisions
• No corporate “retaliation” tax, which would have penalized foreign tax regimes deemed aggressive

We’re here to help
The new tax law significantly enhances many of the TCJA’s most business-focused provisions, while adding new incentives aimed at capital investment, research, and manufacturing. Whether you own a small local business or operate internationally, these updates may offer new opportunities for savings and planning. Reach out to your Mowery & Schoenfeld tax advisor to discuss how these changes may impact your business.

By Carlos Bisio – CEO at FastForward (FDA Experts)

For companies aiming to export food, beverages, cosmetics, dietary supplements, or medical devices to the United States, understanding FDA (Food and Drug Administration) regulations is not just recommended—it’s essential.

The FDA is the U.S. federal agency responsible for protecting public health by ensuring the safety and labeling of products that reach American consumers. Its authority covers a wide range of goods, including packaged foods, seafood, snacks, juices, cosmetics, dietary supplements, and over-the-counter medical products.

One of the first steps for foreign manufacturers or distributors is to properly register their facility with the FDA and appoint a U.S. Agent to serve as a liaison with the agency. This process helps ensure traceability and accountability in case of product recalls or inspections. Failure to comply with FDA requirements can result in customs detentions or denial of entry at U.S. ports.

Foreign manufacturers and exporters must adhere to several key requirements before shipping to the U.S., such as:

• Facility registration: All foreign food and cosmetic facilities must register with the FDA and renew the registration every two years (or annually for some products).
  
  
• U.S. Agent designation: A mandatory contact person or entity based in the U.S. to communicate with the FDA on behalf of the foreign company.
  
  
• Labeling compliance: FDA requires specific formats for ingredient lists, nutrition facts (for foods), warnings, and product claims. These differ substantially from European or Latin American labeling rules.
  
  
• Prior Notice: Food shipments must be pre-declared to U.S. authorities before arrival.
  
  
• Adherence to specific laws: Recent updates like the FSMA (Food Safety Modernization Act) and MoCRA (Modernization of Cosmetics Regulation Act) have introduced new standards for safety plans, product listing, and adverse event reporting.
  
  

Failing to meet these standards may result in delays at customs, automatic detention, or import alerts.

At FastForward, we have analyzed recent trade and regulatory data and noted recurring compliance issues among exporters—especially in labeling, prior notice filings, and facility registration lapses. These gaps often delay access to the U.S. market or expose companies to regulatory penalties.

Italian and Latin American companies—particularly in the food and beauty sectors—often face challenges navigating this regulatory landscape, which differs significantly from EU or Latin American standards. Understanding the scope of FDA inspections, labeling rules (such as nutrition facts and ingredient declarations), and import alerts is crucial for market entry and business continuity.

As regulatory updates continue under laws like FSMA (Food Safety Modernization Act) and MoCRA (Modernization of Cosmetics Regulation Act), staying informed and compliant is more important than ever for exporters targeting the U.S.

In 2024, Italy’s exports to the United States reached approximately $70.16 billion, with FDA-regulated sectors playing a significant role in this trade relationship. The top three FDA-regulated Italian export sectors to the U.S. were:

1. Pharmaceutical Products: $10.64 billion
   
   
2. Beverages, Spirits, and Vinegar: $3.19 billion
   
   
3. Essential Oils, Perfumes, Cosmetics, and Toiletries: $1.31

These sectors collectively accounted for over $15 billion in exports, underscoring the importance of FDA compliance for Italian exporters. Looking ahead, projections for 2025 suggest continued growth in these industries, driven by sustained demand and Italy’s strong manufacturing capabilities. However, exporters must remain vigilant regarding regulatory compliance, particularly with FDA requirements, to ensure seamless market access and to capitalize on growth opportunities in the U.S. market.

By INLAY USA

The Question: When international small and medium-sized businesses enter the U.S. market, they face numerous critical challenges. These include identifying and attracting the right talent, motivating them, and retaining them over time. In other words, the question is: what are the best ways to manage personnel in a country like the United States?

The Context: The labor market in the United States has always been much more flexible and dynamic than in Europe; people change jobs more quickly and more frequently. This represents a significant challenge for companies. In addition, in recent years, employer-employee relationships have become much more complicated due to new factors that have emerged. These factors include:

·  Changes brought about by the pandemic, such as remote working.

·  The increased use of technology, leading to digital transformation.

·  A greater emphasis on social issues like work-life balance, diversity, equity and inclusion.

To make the context even more complex, there is a widespread shortage of labor in all sectors, leading to fierce competition among firms and significant wage growth.

The Answer: In my experience, both as a Corporate HR professional and as an HR Advisor, I have always considered building an ecosystem that considers, in an integrated way, the following factors:

·  Communication – widespread and transparent

·  Base pay – at least in line with the market

·  Variable pay – simple commission and incentive plans

·  Bonuses and incentives – targeted and effective

·  Benefits – comprehensive and competitive

·  Work environment – healthy, positive, and open

·  Learning – programs dedicated to employee development

In summary, for an effective human resources attraction and retention policy, attention must be paid to both total compensation (base pay, variable pay, incentives, benefits) and the work environment (communication, environment, employee development, and management). This is necessary regardless of company size.

Are you interested to discuss in more details about your specific situation? Call me at +1-954-955-9447 or send an email at stefano.vetralla@inlay.it.

By Stefano Vetralla (INLAY USA – Managing Partner) (*)

(*) Stefano Vetralla, Managing Partner of INLAY USA, is a seasoned global HR Trusted Advisor with extensive experience in start-ups, mergers and acquisitions, HR transformation, and change management, he provides expert guidance to Boards and Executive Leadership Teams.  His work centers on succession strategy, talent recruitment, assessment, and retention, with a particular focus on sourcing global leaders for international companies thriving in North America. In 2014, Stefano relocated to the USA to become EVP and Global Chief People Officer at KEMET Electronics, a global manufacturing leader. Before that, he held a series of progressively responsible international HR positions across EMEA, the Americas, and APAC at industry giants like Hewlett-Packard, 3Com Corporation, and Belgacom.

By Gerson, Preston, Klein, Lips, Eisenberg & Gelber

Cross-border business operations between Italy and the United States create unique opportunities for strategic tax planning. While transfer pricing is often viewed primarily as a compliance matter, forward-thinking companies recognize it as a powerful tool for enhancing profitability and optimizing global tax positions.

The international business landscape has evolved significantly in recent years, with Italian companies expanding their US presence across diverse sectors including manufacturing, luxury goods, yachting, and food & beverage. These expansions create complex intercompany relationships that, when thoughtfully structured, can yield substantial economic benefits.

At a recent business forum, Nicolò Fabbrizio, Partner at Gerson Preston Klein Lips Eisenberg & Gelber, noted how transfer pricing strategy has become a crucial element of financial planning for international businesses. “When properly implemented, strategic transfer pricing aligns business objectives with tax efficiency, creating value beyond mere compliance,” Fabbrizio explained. “Companies that view transfer pricing proactively often discover it can be a competitive advantage.”

The firm’s approach focuses on identifying opportunities within legitimate transfer pricing methodologies that align with business realities while optimizing tax positions. This might include strategic placement of intellectual property, thoughtful structuring of management services, or appropriate allocation of risk and reward across jurisdictions.

Michael Desaulniers, CVA, who leads the firm’s Valuation & Transfer Pricing practice, emphasizes the importance of substance in these arrangements. “The most successful strategies are those built on genuine business operations, not artificial constructs,” he notes. “Our expertise lies in identifying authentic opportunities that reflect operational realities.”

Italian businesses navigating these complexities benefit from advisors with deep understanding of both US and Italian tax systems and cultural nuances. By taking a strategic approach, companies can transform a potential compliance burden into a value-creation opportunity.

For more insights on transfer pricing strategies, Nicolò Fabbrizio (nif@gpkleg.com) and Michael Desaulniers (mjd@gpkleg.com) can be reached at 305-868-3600.

By Jacksonville Port Authority

Amidst rising tariffs and economic uncertainties, U.S. Foreign Trade Zones (FTZs) have become strategic tools for savvy importers and exporters. For members of the Italy America Chamber of Commerce Southeast (IACCSE), an FTZ offers compelling advantages worth exploring.

What Are Foreign Trade Zones?

FTZs are designated areas under U.S. Customs supervision which are considered outside U.S. Customs territory. Within these zones, companies can import, store and process goods while deferring or potentially eliminating customs duties if re-exporting. This arrangement provides significant flexibility for supply chain management and cash flow optimization.

Strategic FTZ Advantages

The Jacksonville Port Authority (JAXPORT) operates Foreign Trade Zone No. 64, Florida’s largest, spanning over 5,000 square miles across 10 counties in Northeast Florida. This extensive coverage provides Italian importers with access to streamlined customs procedures and duty benefits.

“We’ve seen a growing number of companies exploring FTZ benefits as they reevaluate their supply chains,” said Justin Ryan, JAXPORT Manager, FTZ No. 64. “FTZs offer companies supply chain flexibility and a strategy to respond to the dynamic trade environment we see in 2025.”

FTZ participants can deliver their goods directly from the port to their FTZ-approved facilities, simplifying logistics.

Key Benefits for Italian Businesses

For Italian companies importing to the U.S. or American businesses exporting to Italy, FTZs offer multiple advantages:

• Deferred Customs Duties: Improve cash flow by delaying duty payments until goods enter the domestic market

• Duty Elimination: on goods destined for re-export

• Rapid Activation: New storage sites can be operational within 30 days, manufacturing sites within 120 days.

As global trade uncertainties persist, JAXPORT’s FTZ No. 64 – and other U.S. FTZs – represent a valuable resource for IACCSE members seeking to maintain competitive advantage while navigating the complexities of international commerce.

By Fluentis

With new tariffs introduced by President Trump, many Italian manufacturing companies are seriously considering opening production facilities in the US.

It’s a smart move — but it comes with challenges. International expansion isn’t just about opening a branch abroad — it means replicating your entire organizational model in a completely different environment, with new tax rules, different currencies, local teams speaking other languages and the need to keep all branches connected and aligned.

Relying on an advanced ERP system becomes essential to handle operational and regulatory complexity.

Without it, companies can run into key issues like:

• Disconnected operations:
• HQ works in Italian, the US branch in English with different processes. Data isn’t synced, making centralized control tough and leading to delays, errors, and poor visibility.
• Currency headaches:
• Invoices in Euros and USD are managed manually or in Excel, causing reporting errors, margin loss, and planning difficulties.
• Tax compliance risks:
• Local tax rules aren’t supported by the existing ERP, leading to non-compliance, potential penalties, and reliance on third-party software.
• No real-time oversight:
• HQ lacks visibility into inventory, production, and sales abroad, resulting in misaligned strategies and slow decisions.

Fluentis ERP offers a comprehensive solution to support Italian companies in the US, ensuring efficiency, compliance, and seamless integration across all business locations, providing:

✅ Multi-language management, to adapt easily to local teams and markets.

✅ Multi-currency features, with automatic exchange rate updates.

✅ Multi-tax system, to handle different fiscal regulations while keeping full central control.

And thanks to our Cloud-native infrastructure, Italian and US branches can collaborate in real time, share data instantly, and maintain unified governance across borders.

If you’re an Italian SMB already operating in the US – or if you’re just about to take this step – let’s talk.

We’ll show you how Fluentis ERP can support you by simplifying every step of the journey.

For more information: marketing@fluentis.com