Latest news with #Kingpin
Forbes
01-06-2025
- Business
- Forbes
Curating Freeports And Foreign Asset Protection With Evolving Tariffs
The season finale of Daredevil: Born Again referenced a fictional freeport in the Red Hook neighborhood of Brooklyn, New York which the villain, Kingpin was using to shield illicit assets from tax and tariffs. This nod in popular entertainment to a classic tax-efficiency strategy, especially for wealthy collectors of art, highlights the concern that freeports are also a breeding ground for illicit activities, such as money laundering. Unlike Foreign Asset Protection Trusts (FAPT), the use of freeports to limit tax exposure and obtain more security and privacy in the storage and transfer of luxury goods, such as fine art and wines, cryptocurrency, and classic cars was generally only accessible and known among the uber-wealthy. However, in past few years, the European Union has focused its attention on regulating activities in freeports, especially after increasing instances of use of these freeports, including those in Switzerland and Geneva, for illegitimate activities. The increasing uncertainty on tax and tariffs may garner more interest in freeport use even within the United States. The Delaware Freeport, for example attracts significant art collectors from New York especially because it provides a state tax haven and an alternative to shipping artwork to Switzerland, for example. Rising tariffs which would support the increased use of freeports may result in greater scrutiny and tax enforcement to combat potential tax evasion and other illicit activities that may increase also. The implementation of any asset protection or tax-efficiency strategy, including the use of freeports is a risk assessment, where the administrative costs and burden of compliance must be weighed against the financial and security benefits of using these wealth planning vehicles. Freeports have been used to reduce overhead costs, enhance security and privacy, and support globalization and trade liberalization for centuries. They are designated areas, situated near seaports and airports, globally, to hold and transact activities involving luxury goods for wealthy investors. Freeports which as legally classified as Special Economic Zones (SEZ) or Free Trade Zones (FTZ), are structured to encourage economic activity by providing a tax haven wealthy investors. When the owner of a luxury asset, such as a work of art, collectible, or a classic car, acquires and transports the asset directly to a freeport, the asset is considered 'in transit.' Therefore, the asset is not subject to the taxes that would apply to the sale or movement of goods across borders. Additionally, the asset would continue to appreciate for an indefinite period, and continue to be exempt from tax, including sales tax, import duties, and capital gains tax. Originally established for storage of grains and other assets in transit between borders, freeports have become an attractive asset protection vehicle for the wealthy, globally. In addition to the exemption of sales tax, capital gains tax, and import duties, the seller can avoid capital gains tax upon sale also. However, simply directing storage and transactions of the assets to a freeport will not benefit the asset owner on tax-efficiency. For example, the United States taxes its residents and citizens on income generated anywhere, globally. Therefore, an asset that generates income, even in a freeport that remains under the ownership of a US citizen or resident would be subject to US federal tax. Tariffs which apply on the trade of goods may be reduced or eliminated by the use of freeports, but holding assets in freeports may attract the scrutiny of the IRS and the US Customs and Border Protection (CBP), which supervises certain freeports. Note that the CBP subjects all activity within the freeport zone to public interest review and U.S. laws and regulations, providing the CBP authority to exclude any merchandise that may be considered detrimental to the public interest. While a freeport may eliminate the application of any tariff imposed by the US and minimize trade barriers, the tax exposure due to the US tax regime should be considered. Assets in freeports are considered to be in transit and therefore not subject to tariffs, however, additional enforcement and compliance obligations may be implemented to align with the increased tariffs that cause significant administrative burden on the asset owners. Freeports do not, therefore, replace the need for additional planning, such as the use of Domestic and Foreign Asset Protection Trusts. Using a Foreign Asset Protection Trust (FAPT) or similar irrevocable trust structures and independent entities in conjunction with storing assets in freeports may provide additional layers of security and opportunities for further tax mitigation. A FAPT enables a U.S. citizen to transfer assets to be held in a foreign jurisdiction while protecting it from domestic creditors because of the limited jurisdiction of the legal system across borders. Assets stored in a freeport may use a FAPT or other entity to be the owner of the asset to provide layered protection as well. A FAPT imposes a significantly higher burden of proof for creditors attempting to claim fraudulent transfer, shorter statute of limitations in many foreign jurisdictions, thus reducing the window for litigation, and, in some cases, favorable tax benefits. Unlike assets in free ports, FAPTs, if designed and managed with certain restrictions, can qualify as being outside the scope of U.S. tax jurisdiction, which would be tax-advantageous. Significant compliance obligations exist, however, on distributions to foreign beneficiaries, to foreign holders of the underlying entities, foreign asset reporting, and foreign trust regulations which can be administratively burdensome and risk significant non-compliance penalties. Additionally, FAPTs without carefully planned funding and structured restrictions on transfers and control risk may bypass any creditor protection and the original asset owner may suffer the wrath of the courts. Further, if the US passes the Big Beautiful Tax Bill, several provisions, including proposed Section 899 would impact the tax treatment of foreign holdings, which can be challenging for highly valuable assets, as are generally stored in freeports. Regardless, if structured properly and legitimately, the tax-efficiency and privacy protections offered by the FAPT can be significant. Freeports have historically supported global trade, asset protection, and tax efficiency. They can facilitate commerce and globalization and can be especially useful for wealth preservation with assets subject to tariffs and duties in a time of uncertainty on global trade. However, as global financial regulations and transparency initiatives expand, freeports are ripe for scrutiny and regulatory measures which warrant staying up to date with compliance and reporting requirements. The high cost and administrative burden of compliance supports the use of freeports primarily for high-value goods and luxury assets, especially those requiring more security and privacy than more common investments.
Business Upturn
14-05-2025
- Business
- Business Upturn
RAW® Rolling Papers Surpasses over 300 Million Organic Views on Meta Platforms in April 2025
Phoenix, Arizona, May 14, 2025 (GLOBE NEWSWIRE) — RAW® Rolling Papers continues to prove its cultural dominance and unmatched brand loyalty with a staggering 300 million+ organic views across Meta platforms during the month of April 2025. Without a single dollar spent on paid ads, the brand's content spread like wildfire — shared, reposted, and celebrated by fans across the globe through its official Meta handles: @rawlife247 , @raw , and Josh's @rawkandroll . The numbers are more than just impressive — they're a testament to RAW®'s unwavering connection to its community and its ability to organically drive mass engagement in an era dominated by paid media. 'Our audience is the algorithm,' said Josh Kesselman, founder of RAW®. 'We don't chase trends — we set them. This kind of reach isn't luck, it's love. RAW is powered by real people sharing RAWthentic moments, real culture, and a passion for smoking. When you build something authentic, people don't just follow — they amplify.' With over 300 million organic views tracked in April 2025 alone, RAW®'s reach on Meta is a case study in how purpose-driven brands can lead global conversations without relying on traditional media buys. From viral rolling tutorials to behind-the-scenes exclusives, philanthropic shoutouts, and the unmistakable RAW® energy, the brand's content continues to resonate with a new generation of cannabis consumers and culture lovers. RAW's social success also underscores its position as not just a leader in rolling papers, but as a movement rooted in creativity, justice, and community. 'This isn't just a flex — it's proof of purpose,' Kesselman added. 'We built RAW® for the people, and now they're carrying the flame.' About HBI International HBI International, now HBI Innovations, is an independent, world-famous provider of high-quality rolling papers, cones, and other smoking innovations, including the legendary RAW® brand, the unbleached rolling papers that are used by millions worldwide. In addition to RAW®, HBI distributes incredibly popular brands such as Elements, Juicy Jay's, and Kingpin and has grown its portfolio to more than 2,500 SKUs and numerous patents. Under the leadership of its founder Josh Kesselman, HBI is dedicated to operating under a philosophy that prioritizes both product excellence and ethical business practices. The company's humanitarian effort, RAW Giving , has donated more than $2.5 million in direct cash contributions, plus in-kind contributions of about $200,000, to a wide variety of charities and causes, including clean water, animal rescue, reforestation, and more. ### Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
14-05-2025
- Business
- Yahoo
RAW® Rolling Papers Surpasses over 300 Million Organic Views on Meta Platforms in April 2025
20-Year-Old Brand Organically Shatters Social Media Expectations; Solidifies Position as One of The Most Influential Brands in the Industry Phoenix, Arizona, May 14, 2025 (GLOBE NEWSWIRE) -- RAW® Rolling Papers continues to prove its cultural dominance and unmatched brand loyalty with a staggering 300 million+ organic views across Meta platforms during the month of April 2025. Without a single dollar spent on paid ads, the brand's content spread like wildfire — shared, reposted, and celebrated by fans across the globe through its official Meta handles: @rawlife247, @raw, and Josh's @rawkandroll. The numbers are more than just impressive — they're a testament to RAW®'s unwavering connection to its community and its ability to organically drive mass engagement in an era dominated by paid media. 'Our audience is the algorithm,' said Josh Kesselman, founder of RAW®. 'We don't chase trends — we set them. This kind of reach isn't luck, it's love. RAW is powered by real people sharing RAWthentic moments, real culture, and a passion for smoking. When you build something authentic, people don't just follow — they amplify.' With over 300 million organic views tracked in April 2025 alone, RAW®'s reach on Meta is a case study in how purpose-driven brands can lead global conversations without relying on traditional media buys. From viral rolling tutorials to behind-the-scenes exclusives, philanthropic shoutouts, and the unmistakable RAW® energy, the brand's content continues to resonate with a new generation of cannabis consumers and culture lovers. RAW's social success also underscores its position as not just a leader in rolling papers, but as a movement rooted in creativity, justice, and community. 'This isn't just a flex — it's proof of purpose,' Kesselman added. 'We built RAW® for the people, and now they're carrying the flame.' About HBI InternationalHBI International, now HBI Innovations, is an independent, world-famous provider of high-quality rolling papers, cones, and other smoking innovations, including the legendary RAW® brand, the unbleached rolling papers that are used by millions worldwide. In addition to RAW®, HBI distributes incredibly popular brands such as Elements, Juicy Jay's, and Kingpin and has grown its portfolio to more than 2,500 SKUs and numerous patents. Under the leadership of its founder Josh Kesselman, HBI is dedicated to operating under a philosophy that prioritizes both product excellence and ethical business practices. The company's humanitarian effort, RAW Giving, has donated more than $2.5 million in direct cash contributions, plus in-kind contributions of about $200,000, to a wide variety of charities and causes, including clean water, animal rescue, reforestation, and more. ### CONTACT: Cynthia Salarizadeh RAW Rolling Papers (833) 328-3478 press@ in to access your portfolio
Geek Tyrant
09-05-2025
- Entertainment
- Geek Tyrant
Vincent D'Onofrio Confirms Plans for DAREDEVIL: BORN AGAIN Season 3 and Teases Kingpin's Big Screen Future — GeekTyrant
If Daredevil: Born Again has taught us anything so far, it's that Wilson Fisk always plays the long game, and so does Vincent D'Onofrio. While Season 2 of the series is currently in production, the actor behind the MCU's Kingpin is talking about what's next. While speaking to Awards Buzz, D'Onofrio confirmed that there are tentative plans for a third season of the Disney+ series, provided fans show up for what's coming. D'Onofrio shared: 'If they let us do it, we have a plan. It is up to the fans to watch and to get excited. And it is up to us to please them and get the story right. We are looking forward in a big way.' It's a confident hint that Marvel Studios is in this for the long haul. The first season of the series ended up being awesome and it, ends in a way that leave fans wanting more. As for Season2, D'Onofrio didn't reveal much, but it's clear he and the creative team have a larger arc in mind. It also sounds like it's sure to be inspired by some of the more gritty Daredevil comic runs. Of course, fans are also wondering when or if Kingpin will finally make his move onto the big screen. There are rumors that D'Onofrio and Charlie Cox might appear in Spider-Man: Brand New Day , but D'Onofrio says there are still some roadblocks, namely, rights issues. 'I would love for them [to get] the rights thing figured out with Sony. I think that will eventually happen, I don't know when or how they're going about it, but I can't imagine that they won't figure out something. We'll see.' With Fisk being the Mayor of New York City, and that city being a main setting in the MCU, the pieces are moving into place for something bigger. it seems like he'd have to be involved in some way, so hopefully Marvel figures that out. Hopefully, one day we get to see Fisk go toe-to-toe with Peter Parker on the big screen.
Forbes
17-04-2025
- Entertainment
- Forbes
‘Daredevil: Born Again' Season 2 Gets A Surprising Release Date
Daredevil: Born Again Daredevil: Born Again season 1 ended with one of the best finales in MCU history, and also, by far, the bloodiest, as Disney has seemingly let that crew do…whatever they want (Kingpin, ouch). It was always the plan for Daredevil: Born Again to run for at least two seasons (or by some accounts, one giant season broken in half), but with filming having been underway for a bit now, there's some good news on that front. Showrunner Dario Scardapane confirms that Daredevil: Born Again's season 2 release date will be in March of 2026, just one year after season 1 premiered. Yes, of course many years ago, especially in the age of broadcast TV, this used to be the standard gap between seasons. But in the streaming era, it's more often 1.5 to 2 years, with some big shows even pushing three year gaps. A one year gap for a show like Daredevil, which is say, more complicated than filming something like The Bear, another yearly offering, is impressive. Daredevil: Born Again Past season 2, it's already been said that they want to go beyond that and stay yearly. Here's head of Marvel TV Brand Winderbaum speaking to ScreenRant: And why they want to continue: When asked which former Netflix character he'd like to see return, Winderbaum said Jessica Jones. Given that he's…the head of Marvel TV, that seems likely to happen, whether it's a Daredevil guest appearance or the return of her own show. Former Danny Rand, Finn Jones, has recently said that fans should 'give him a chance' as Iron Fist, apparently wanting to take on the role again. Elodie Yung wants to return as Elektra, resurrected from season 2 of Daredevil. And here's ex-Luke Cage, Mike Colter 'I still have hopes for it…I don't think it's impossible. Anything can happen.' I think Marvel is attempting to assemble a harder-edge, R-rated street-level MCU outside of theaters. Before this, we had Echo. Now infinite seasons of Daredevil, perhaps. A Punisher special and the seemingly imminent return of Jessica Jones. And all the rest of the actors that got left behind apparently want to return too. So let's do it. Follow me on Twitter, YouTube, and Bluesky Pick up my sci-fi novels the Herokiller series and The Earthborn Trilogy.
