Primary Contact: Craig Lair
Taxes are the central focus for which most business decisions are made, including where to locate headquarters and operational facilities, how to structure the business, who to hire, how to grow the business, and determining the timing and implementation of these decisions. Taxation factors into the operation of a business, regardless of size or industry.
Rose Law Firm tax attorneys represent businesses of all sizes and individuals. We offer comprehensive advice on all aspects of federal, state, and local taxation. We also have a depth of expertise in handling tax litigation before the appropriate courts.
Among the numerous clients we represent:
Partnerships and limited liability companies
Publicly and closely held corporations
Colleges and universities
Executors and trustees
Our tax attorneys develop and deliver innovative business and legal solutions to clients with a focus on minimizing tax costs and maximizing financial return on acquisitions, reorganizations, and divestitures.
We routinely provide our clients legal advice on such areas as:
Structuring business acquisitions and share exchanges
Optimizing tax-free transactions, including mergers, reorganizations, and multiple-step acquisitions
Evaluating divestiture strategies, including those resulting in tax basis increases
Assessing benefits of tax attributes, including those resulting in tax basis increases
Assessing benefits of tax attributes, including net operating and capital loss carry-forwards
Issuing tax opinions and obtaining rulings from the Internal Revenue Service (IRS) and Arkansas Department of Finance and Administration (DFA)
Partnerships, Limited Liability Companies, and Joint Ventures
We counsel owners of privately held businesses on matters relating to the tax-efficient ownership and operation of their enterprises. This often involves the use of limited liability companies (LLCs), partnerships, and other joint ventures. These entities are used in structuring asset acquisitions and divestures, sales and redemptions of ownership interests, allocations of debt and preservation of tax basis, special allocations, preferred returns, property contributions, asset distributions, and capital account analysis.
We develop strategies for the tax-efficient utilization of LLCs and partnerships in:
Real estate exchanges
Rehabilitation and historic tax credit investments
Structured finance transactions
We represent clients on the full spectrum of tax issues relevant to S corporations and their owners.
Our services include:
Issues involving eligible shareholders, shareholder/employee compensation, shareholder loans, redemptions, shareholder agreements, and succession planning
State and Local Tax
State and local taxation is a critical area of tax law that necessitates the need for sound tax planning. Many provisions of state tax law change frequently. In addition, constitutional issues which have an impact on a government’s ability to tax certain transactions are very important. Income taxation and sales taxation are in constant flux as tax jurisdictions look for additional sources of revenue and take increasingly aggressive positions with respect to taxation of transactions or including out-of-state revenues in their tax bases.
We advise clients on variety of other tax-related matters including:
Net income and capital stock taxes
Gross receipts and use taxes
Taxable sales of tangible personal property as applied to various businesses, trades and occupations, taxable services and mixed transactions, and asset classification issues
Our state and local tax attorneys are highly versed in all aspects of state and local tax planning, as well as all aspects of tax compliance, including:
Civil audit and general and procedural matters before local and state tax authorities
Preparation of administrative tax protests and preparation of offers in compromise for outstanding tax assessments
A complete range of trial and appellate state and local tax litigation services
Our tax attorneys represent clients during audits, administrative appeals, and trial and appellate litigation with the IRS, the Arkansas Department of Finance and Administration and county equalization boards. Rose Law Firm tax attorneys are experienced in representing clients before the United States Tax Court, federal district courts, federal appellate courts, circuit courts, and Arkansas appellate courts.
Rose Law Firm’s tax team provides charitable and other nonprofit organizations with comprehensive advice on tax issues. With our guidance, we help charities and other nonprofits operate successfully in the increasingly complicated, regulated and competitive environment facing such organizations today.
We serve clients in the following areas:
Establishment of nonprofit organizations and IRS recognition of exemption
Advice and guidance on initial and annual compliance with federal and applicable state tax laws, including the review of annual returns required to be filed with federal and state governments
Advice and guidance on Form 990 and Form 990-PF annual reporting
Advice and guidance on tax classification issues, including publicly supported charities and supporting organizations
Advice and guidance on private inurement and private benefit issues
Advice and guidance on excess benefit transactions, including executive compensation
Advice and guidance on unrelated business income tax issues
Advice and guidance on private foundation issues, such as self-dealing, taxable expenditures, excess business holdings, minimum distributions, tax on net investment income and jeopardy investments
Advice and guidance on state and local tax issues