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Overview

The members of Carlton Fields’ tax team stand out for their abilities to connect with clients and express complex concepts in straightforward terms, and for their creativity and focus on each client’s needs and goals. The group includes lawyers who hold post-law degrees (LL.Ms) in taxation, specialists who are Board Certified in Tax Law by The Florida Bar, former tax professors, and certified public accountants. Their specialized tax knowledge and effective communication skills benefit clients that include Fortune 100 companies, publicly-held corporations, closely-held companies, national investment companies and funds, nonprofit and tax-exempt organizations, startups, and individuals.
 
Our team provides comprehensive representation that includes international, federal, state, and local tax planning, counseling, and advocacy; as well as legislative and regulatory advocacy and estate planning. We handle a wide range of tax controversies before administrative agencies and courts, including state trial and appellate courts, federal district and appellate courts, the federal Claims Court, and the United States Tax Court.
 
State and Local Taxation
 
We advise with respect to all manner of state and local taxes, including property, income, sales and use, and documentary stamp taxes. Our representation includes advising on the taxability of transactions, structuring transactions to maximize state and local tax efficiency, and assisting clients with state and local government taxing authorities.
 
Federal Taxation
 
We have deep and broad experience with the federal income taxation of corporations, limited liability companies, partnerships, tax-exempt organizations, employee benefit plans, and individuals. We advise business entities and owners on a wide variety of tax concerns and strategies, from entity selection to profit maximization to executive compensation to business exit and succession planning. We advise individuals with regard to tax issues relating to entity ownership, tax disputes, and estate planning. We have significant expertise in representing tax-exempt organizations with both U.S. and international presences. 
 
For our business clients, we advise regarding both day-to-day and major event tax planning, including: tax controversies; mergers and acquisitions; spin-offs; corporate restructurings and recapitalizations; establishing and maintaining qualified benefit plans; bankruptcies, workouts, and other capital restructurings; structured financings; and debt, equity, and hybrid securities offerings.
 
International Taxation
 
Pre-Immigration Tax Planning 
Our team of experienced tax attorneys provide pre-immigration tax planning for persons immigrating to the United States in an effort to minimize their U.S. taxes and preserve their wealth. Please see our detailed analysis of pre-immigration planning concerns, including examples, for more information.  
 
Tax-Exempt Organizations
 
Throughout the United States, we represent non-profit and tax-exempt organizations with activities within and outside the country. Our clients include nationally recognized Section 501(c)(3) public charities and private foundations, Section 501(c)(4) civic and social benefit organizations, Section 501(c)(6) trade and business organizations, Section 501(c)(7) recreational membership organizations, and Section 527 political organizations. We help non-profit organizations report to the public and the government, comply with their tax and solicitation registration obligations, obtain and maintain their tax-exempt status, and manage their worker and contractual relationships. As their corporate and tax counsel, we work collaboratively with each organization’s board members and management.
 
Our services include advising tax exempt organizations on matters relating to:

  • IRC Section 501(c) compliance
  • State non-profit law updates
  • Mergers and acquisitions
  • Policy review and development
  • Alternative investments
  • Financing arrangements
  • Contracts with technical, financial, and other vendors
  • Day-to-day operational contracts and agreements
  • Navigating non-profit and for-profit relationships
  • Charitable contributions, trusts, and endowments
  • Intellectual property issues
  • Worker classification and employment/independent contractor agreements
  • Benefit and compensation plans
  • Personnel matters
  • Real estate transactions, construction projects, and permitting 


 

All Insights

Carlton Fields Helps Small Business Client Avoid Steep ACA Penalties

Carlton Fields Helps Small Business Client Avoid Steep ACA Penalties

September 24, 2018

The IRS claimed that our client, a non-profit charitable organization with under 100 employees, owed about $140,000 for failure to fulfill its Affordable Care Act obligation to offer its employees health insurance coverage.

Application of Section 199A to Domestic Taxpayers Engaged in U.S. and Foreign Business Operations

Application of Section 199A to Domestic Taxpayers Engaged in U.S. and Foreign Business Operations

July 31, 2018

The new Section 199A deduction has the potential to provide owners of tax flow-through businesses operating in the U.S. and abroad with a significant benefit.

Cost-Sharing Regulations Revived By Ninth Circuit

Cost-Sharing Regulations Revived By Ninth Circuit

July 31, 2018

The Ninth Circuit Court of Appeals reversed the Tax Court in Altera Corp. in the latest chapter of the dispute over the validity of cost-sharing regulations.

U.S. Tax Court Finds Captive Insurer Is Not an “Insurance Company” Under the Internal Revenue Code

U.S. Tax Court Finds Captive Insurer Is Not an “Insurance Company” Under the Internal Revenue Code

July 26, 2018

The U.S. Tax Court held that Reserve failed to qualify as an insurance company for federal income tax purposes under the Internal Revenue Code section 501 (a), (c)(15), which provides for the tax-exempt treatment of income received by insurance companies that meet certain criteria.

New Tax Costs May Be Hiding In Your Qui Tam Settlement

New Tax Costs May Be Hiding In Your Qui Tam Settlement

June 29, 2018

Historically, taxpayers who made settlement payments to the government or relator in actions brought under the False Claims Act[1] could offset those often considerable costs by deducting all or part of the payment for federal income tax purposes.

Excise Tax Problems? Retirement Compensation May Help

Excise Tax Problems? Retirement Compensation May Help

June 12, 2018

Effective Jan. 1, 2018, the Tax Cuts and Jobs Act created an excise tax with newly enacted Internal Revenue Code Section 4960, to be imposed on tax-exempt organizations and governmental entities. Fortunately, there may be opportunities to avoid these excise taxes through planning with retirement plans.

New Tax Law Eliminates 30-Day Safe Harbor Against CFC Status

New Tax Law Eliminates 30-Day Safe Harbor Against CFC Status

March 31, 2018

The recent tax law changes have focused primarily on corporate income tax, and in the international context, mostly on outbound tax matters.

Business Interest Deduction Limitation: The New Code Section 163(j)

Business Interest Deduction Limitation: The New Code Section 163(j)

February 25, 2018

In light of the new business interest limitation rules, businesses will now need to examine whether borrowing money is a cost-efficient means to raising funds.

Virtual Currency Tax Consequences

Virtual Currency Tax Consequences

February 22, 2018

A growing number of startups are offering virtual currencies to investors through initial coin offerings (ICOs) as a way to raise capital, often with little or no awareness of the tax consequences of their actions.

IRS and Cryptocurrencies: Coinbase is Just the Beginning

IRS and Cryptocurrencies: Coinbase is Just the Beginning

January 26, 2018

The IRS may soon discover a need for a more administrable approach to taxing crypto gains.

A Game Plan for Employers Facing Possible ACA Penalties

A Game Plan for Employers Facing Possible ACA Penalties

January 17, 2018

All employers are at risk of receiving a notice from the IRS that they are liable for a penalty under the Affordable Care Act for failing to offer enough employees insurance coverage, or for failing to offer particular employees insurance coverage. This alert offers a game plan to implement upon receipt of that notice.

Bitcoin And Taxes: If Not HODLing, Consider Donating

Bitcoin And Taxes: If Not HODLing, Consider Donating

December 19, 2017

A mantra among cryptocurrency investors is “HODL.” The phrase originated in a December 2013 post on the Bitcoin Forum message board by an admittedly less-than-sober investor attempting to announce his plans to “hold” on to his Bitcoin in the wake of a 25% drop in market price. At the time of his misspelled posting the price of per bitcoin was around $400.

Intellectual Property

Intellectual Property

September 26, 2017

New Partnership Audit Rules – Plan Ahead Before the Tax Bill Arrives

New Partnership Audit Rules – Plan Ahead Before the Tax Bill Arrives

September 26, 2017

A new set of rules for partnership audits (New Audit Rules), which generally take effect January 2018, fundamentally alter the manner in which the Internal Revenue Service (IRS) will conduct audits of partnerships, multi-member LLCs, and certain unincorporated organizations, including joint ventures, treated as partnerships for federal income tax purposes (collectively, Partnership).

Retirement Plan and Leave Donation Programs During States of Emergencies

Retirement Plan and Leave Donation Programs During States of Emergencies

September 13, 2017

This article should interest employers offering retirement plan benefits or leave donation programs to employees affected by Hurricanes Harvey and Irma, in particular, and in various states of emergencies, in general.

DOL Announces New Enforcement Policy on BIC Arbitration Limitation Class Actions

DOL Announces New Enforcement Policy on BIC Arbitration Limitation Class Actions

August 31, 2017

In order for fiduciaries to receive compensation that varies based on their investment advice or from third parties in connection with their advice, they must comply with a prohibited transaction exemption.

Labor Department Extends Applicability Date of BIC Exemption and PTE 84-24 an Additional 18 Months

Labor Department Extends Applicability Date of BIC Exemption and PTE 84-24 an Additional 18 Months

August 30, 2017

The Labor Department has proposed extending the applicability date of the Best Interest Contract Exemption, the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries, and certain amendments to Prohibited Transaction Exemption 84-24 from January 1, 2018 until July 1, 2019.

Sharing Expenses

Sharing Expenses

July 18, 2017

Catching Up on the Changing Landscape Regarding “Micro” Captive Insurance Companies and the IRS’s Strategy for Curbing Perceived Abuse

Catching Up on the Changing Landscape Regarding “Micro” Captive Insurance Companies and the IRS’s Strategy for Curbing Perceived Abuse

June 14, 2017

Starting with the 2015 iteration of its annual “Dirty Dozen” list, the IRS began an unprecedented crack down on suspected tax shelters using captive insurance companies.

Developing a Strategy to Fight FBAR Penalties

Developing a Strategy to Fight FBAR Penalties

May 1, 2017

Since 2009, the number of FBAR penalties imposed for failures to report foreign bank accounts and the size of the penalties have both increased dramatically.

Tightening the Tax Screws on International IP Structures

Tightening the Tax Screws on International IP Structures

March 8, 2017

For many years prudent international tax planning for multinational enterprises has included structures designed to minimize global taxes by developing or holding intangible property (IP) in foreign subsidiaries located in low-tax jurisdictions.

Featured Insights

Disclaimer

The information on this website is presented as a service for our clients and Internet users and is not intended to be legal advice, nor should you consider it as such. Although we welcome your inquiries, please keep in mind that merely contacting us will not establish an attorney-client relationship between us. Consequently, you should not convey any confidential information to us until a formal attorney-client relationship has been established. Please remember that electronic correspondence on the internet is not secure and that you should not include sensitive or confidential information in messages. With that in mind, we look forward to hearing from you.