Paul Parnell

Paul Parnell’s practice encompasses a broad range of tax law issues with an emphasis on general and corporate income tax matters, exempt organizations, trusts and estates, and Arkansas sales and use tax matters.  Mr. Parnell has worked extensively on income tax matters involving corporations, partnerships, and limited liability companies.  In addition, Mr. Parnell has created private foundations, public charities and social welfare funds, helped them obtain tax exempt status, and worked with directors to resolve difficult tax and administrative issues.  His work in the trusts and estates area has included disputes between fiduciaries and beneficiaries, probate and trust administration. 

Representative matters include the folowing:

• Provided tax counsel to a limited liability undergoing a 30-million dollar recapitalization involving recourse and non-recourse liabilities. 
• Successfully represented client in a gross receipts tax controversy that resulted in a settlement for less than 20% of the proposed assessment.
• Provided tax counsel to large poultry companies involved in IRS controversies regarding change in accounting methods and the use of inventories.
• Provided tax counsel to start-up company regarding issues involving IRC Section 704(c) and the disguised sale rules.
• Provided tax counsel to a large corporation undergoing an inter-corporate reorganization.    

Mid-South Super Lawyer Rising Star, Tax, 2011

Arkansas and Pulaski County Bar Associations

Hendrix College, Bachelor of Arts in Economics and Business with an Emphasis in Accounting, Cum Laude with Distinction, 2004

Hendrix College, Master of Arts in Accounting, 2005

University of Arkansas at Little Rock William H. Bowen School of Law, Juris Doctor, (high honors), 2008

Survey and Comments Editor, University of Arkansas at Little Rock Law Review

First Place, 2007 Hispanic National Bar Association's National Moot Court Competition 

Certified Public Accountant, Arkansas 2005 (inactive) 

Arkansas, 2008