S tate Tax Prac ctice Re eed Smith hs State T Tax Practi ice - - PDF document

▶
s tate tax prac ctice
SMART_READER_LITE
LIVE PREVIEW

S tate Tax Prac ctice Re eed Smith hs State T Tax Practi ice - - PDF document

Oct 10, 2022 375 likes •429 views

State Tax 2018 S tate Tax Prac ctice Re eed Smith hs State T Tax Practi ice has m more profe essionals s exclusive ely focuse ed on sta ate tax iss sues than n any oth er U.S. law w firm. D Devoted to o the full range of

slide-1
SLIDE 1

Ree a na exp allo the dep add eco

  • ur

Our mo stat

  • rg

Rec Gro wer 500

Fee

Our We con

  • th

inte

Sco

Our aud adm Stat con Con wor em rea suc

S

Re sta tax em co

ed Smith’s sta ational platfo

  • perience. Our
  • wing us to un

ir needs, and pth and bread dress client is

  • nomic, busin

r clients work r approach h re than 10 pe te tax matters ganizations, in cently we wer

  • ups of the Ye

re also recogn 0 in their 2017

e Flexibilit

r practice offe have the abi ntingency-bas er arrangeme ernal corpora

  • pe of Serv

r services inc dit defense an ministrative le tes Supreme nsulting. ntroversy & rk encompass phasis in inco l/personal pr ch as the Texa

tate

eed Smith ate tax iss x matters mphasis is mprehen

ate tax lawyer rm with deep r lawyers have nderstand mo d not solely th dth of knowle sues – balanc ness, and soci every day. as resulted in ercent of the s, and recogn ncluding The W re named one ear by Law 36 nized by both 7 rankings.

ty & Cost S

ers a flexible lity to structu sed billing, ris ents tailored te policies.

vices

lude not only nd appeals – evels all the w Court – but a

  • Litigation. O

ses all states

  • me/franchis

roperty tax, an as Margins Ta

Tax

h’s State T sues than s, we do m s on build nsive solu

rs serve client p tax technica e diverse bac

  • re about ou

he laws impac edge impacts cing the law a ial environme n our represe Fortune 500 nition by tax a Wall Street Jou e of 2016’s Ta

  • 60. Our state

h Chambers U

avings.

approach to ure matters ba k-sharing agr to meet clien y traditional le litigating from way through to also nearly all Our controver and all taxes e tax, sales/u nd gross rece ax and Washin

Prac

Tax Practi n any oth more than ding stron utions tha

ts by leveragin al and industr kgrounds, r clients and cting them. Th how we against the ents in which entation of companies in and business rnal. ax Practice tax attorneys USA and Legal billing and fe ased on reements, and nt needs and egal services o m the earliest

  • the United

l areas of tax sy and litigati , with particu se tax, eipts taxes, ngton B&O,

ctice

ice has m er U.S. law n address ng client r at enable

ng ry his n s es. d

  • f
  • f
  • n

lar and Un controv all adm includin unders conclud proces settlem judicial Tax Co subject litigatio differen Our se

  • Perf
  • Mod

bus

  • Dev

stra liab

  • Con
  • Mon
  • the
  • Dra
  • Iden

ince

  • Dev
  • Dev
  • Exe
  • Obt

thro

  • Ass

tax

more profe w firm. D s individu relationsh

  • ur clien

nclaimed Prop versies at the ministrative lev ng the United stand that it is de a matter a ss, we work di

  • ment. As need

l levels until o

  • nsulting. Ou

t-matter expe

  • n work. Our

ntiates our se rvices include forming mult deling multist siness facts veloping and ategies for tra ilities nducting and nitoring and a er legal deve fting legislatio ntifying, nego entives veloping uncla veloping com cuting volunt taining ad val

  • ugh appeal

isting with pu matters

essionals Devoted to ual issues hips, so w ts to focu

  • perty. We ass

e audit level, a vels, federal a d States Supr s more cost e as early as po iligently to ac ded, we will de

  • ur clients’ go

ur consulting erience of ou ability to deliv ervices from m e:. tistate tax refu tate impact o implementing ansactional ac documenting advocating le lopments

  • n and regula
  • tiating and im

aimed prope pliance progr tary disclosur

  • rem tax exe

ublic relations

s exclusive

  • the full

s as they a we work t us on mo

sist clients wit and represen and state cou reme Court. B effective for c

  • ssible in the

hieve favorab efend clients

  • als are met.

work mirrors r controversy ver consultin many other la und reviews

  • f changing ta

g state tax m ctivity or gene g FIN 48 revie egislative, regu ations mplementing rty reporting rams re initiatives emptions, incl s issues result

ely focuse range of

  • arise. Ou

to create ving ahea

th state tax nt clients at urts, Because we lients to controversy ble through all s the y and g work aw firms. ax laws and inimization eral tax ews ulatory and credits and positions luding ting from

State Tax 2018

ed on f state r ad.

slide-2
SLIDE 2

Highlighted Tax Services

The following services are not representative of all tax consulting, controversy and litigation services provided by Reed Smith’s State Tax Practice, and highlight only a few of the services for which our clients engage us:

  • Tax Refund Reviews. We have a record of success in
  • btaining significant cash refunds and future tax

savings using a contingency-fee structure, so that we take on the risk of failure and our clients incur no fees unless we succeed. Our Refund Review Program is performed for all state income/franchise tax returns, sales/use tax returns, and gross receipts taxes, such as the Texas Margins Tax and Washington B&O. Notwithstanding the ever-vigilant work of taxpayers to correctly report taxes and maximize tax savings for the company, opportunities always remain for tax

  • savings. Our lawyers can identify positions based on

case law, administrative policy, or legislative changes that may support a refund of taxes paid.

  • Controversy and Litigation. Reed Smith’s State Tax

Group is recognized for its ability to effectively litigate and win controversies. At the same time, we have an efficient approach to case management. For example, we have created a number of taxpayer coalitions to share the costs and burdens of litigation, including

  • ne coalition that funded the appeal of a taxpayer

with sympathetic facts for the benefit of all taxpayers in the coalition.

  • Mergers, Acquisitions & Transactions. Our team

provides tax counsel for pre-and post-transaction phases of buy or sells transactions, including due diligence assistance with transfer, sales/use, property, employment, and other taxes. We identify structural alternatives to minimize costs or enhance tax savings, and regulatory requirements that may affect closing

  • terms. We also identify opportunities to reduce state

tax exposures or obtain refunds, and whether to do so before or after the transaction.

  • Credits & Incentives. Our team has experience in all

phases of the credits-and-incentives life cycle, and is called to discuss C&I issues at national and regional

  • conferences. We have been involved in the

identification of credits and incentives, contract negotiations, drafting tax credit agreements to maximize cash benefits and minimize risks – including public reputation risk – and implementing the C&I awards across corporate functions to ensure a successful audit of the award.

Success Stories

  • Rare Victories for Intangible Holding Company
  • Structures. Prevailed in resolving numerous cases

involving the intangible holding company of a major nationwide retailer and entities. Similarly helped several clients facing tax exposures of tens of millions

  • f dollars in New Jersey in a dispute involving

intangible holding companies.

  • Record Settlements for Industry and Individuals.

Obtained the largest income tax refund settlement for a bank taxpayer; large settlements for a pharmaceutical company in Illinois; some of the largest oil and gas company cases to come before the California Franchise Tax Board; and helped settle the largest personal income tax residency case.

  • Legislative and Regulatory Guidance. Facilitated a

meeting between a top New Jersey official and clients following passage of the state’s Business Tax Reform

  • Act. The meeting provided the opportunity to gain

valuable insight as to how the new act would be

  • interpreted. We then helped position our clients

advantageously under the new act.

  • Nationwide Resolution. Developed and executed a

50-state resolution strategy for a Fortune 100 company in addressing state actions aimed at intangible holding companies. Strategy eliminated nearly $100 million of potential tax exposure by participating in early voluntary compliance programs, pursuing amnesty opportunities, negotiating favorable settlements, and assisting with analysis of Uncertain Tax Positions.

  • Public Relations. Represented one of the 10 largest

U.S. banks in a state tax case that received media

  • attention. Working with the bank’s tax team, its

general counsel office, and our public relations team, we obtained subsequent media coverage that was fair and balanced.

  • Refund Reviews. Acted as national sales tax counsel

for a major information services provider, obtaining significant refunds of tax paid on millions of dollars’ worth of software purchases.

  • Sales/Use Taxation and Cloud Computing. Advised

a major manufacturing company, which initially had decided against pursuing a tax issue that appeared to be relatively small. Our attorneys reviewed the company’s return and uncovered a larger issue. We took the claim to Pennsylvania’s administrative board and obtained a decision that resulted in substantial immediate and future savings.

  • Groundbreaking Use of Offsetting Credits.

Litigated a ground-breaking case establishing the affirmative duty of Pennsylvania auditors to find and allow credits as offsets to any assessed sales tax.

slide-3
SLIDE 3

Representative Matters

The following cases represent a sampling of the industries, jurisdictions and appeal levels we have reached:

  • Nextel Communications of the Mid-Atlantic, Inc. v.

Commonwealth (PA)

  • Ford Motor Credit Company v. Director, Division of

Taxation (NJ)

  • Mission Funding Alpha v. Commonwealth (PA)
  • Appeal of Argonaut Group, Inc. (CA)
  • Coca Cola Co. v. Pennsylvania (PA)
  • Cutler v. Franchise Tax Board (CA)
  • Daniel V, Inc. v. Franchise Tax Board (CA)
  • Cain v. Illinois Dept. of Revenue (IL)
  • Reed Smith LLP v. Cook County Dept. of Revenue (IL)
  • Dial Corp. v. Director of Revenue (DE)
  • EDS v. Mississippi (MS)
  • Equipment Leasing & Finance Ass’n v. Director, Div. of

Taxation (NJ)

  • First Union National Bank v. Pennsylvania (PA)
  • General Engines Co., Inc. v. Director, Div. of Taxation (NJ)
  • Hewlett-Packard Company v. Michigan (MI)
  • Microsoft Corp. v. Franchise Tax Board (CA)
  • Ohio Grocers Ass’n v. Levin (OH)
slide-4
SLIDE 4

M

Lee A. Lee A. Zo Zoe Philadelph +1 215 851 lzoeller@re Davi David P d P. D Do Chicago +1 312 207 ddorner@ Jer eremy P. emy P. G New York +1 212 549 jgove@ree Mi Michael chael A. A. Philadelph +1 215 851 mjacobs@ Sara A. Li Sara A. Lim Philadelph +1 215 851 slima@ree Paul Paul E

  • E. Me

Me Philadelph +1 215 851 pmelniczak Pr Pris iscilla illa A. A. San Franci +1 415 659 pparrett@

  • R. G
  • R. Gregory

New York +1 212 549 groberts@ Kyle O. Kyle O. Sol Sol Philadelph +1 215 851 ksollie@ree Ro Robe bert rt E.

  • E. W

Philadelph +1 215 851 rweyman@

Meet th

ller ller ia 1 8850 eedsmith.com

  • rne

rner 7 2402 reedsmith.com Gov

  • ve

e 9 4249 dsmith.com Jacob Jacobs ia 1 8868 reedsmith.com ma a ia 1 8872 dsmith.com lnic lniczak zak ia 1 8853 k@reedsmith.com Parre rrett sco 9 5613 reedsmith.com y Ro Roberts 9 4265 reedsmith.com lie lie ia 1 8852 edsmith.com Weyman eyman ia 1 8160 @reedsmith.com

he Te

Br Bre Phil +1 2 bbe Jas aso New +1 2 jfein Davi Davi Phila +1 2 dgut Pe Pete San +1 4 pka Mi Mic Phil +1 2 mlu Joh

  • hn

San +1 4

jmes

Fre Fred Phil +1 2 fpep Ma Mat Phil +1 2 mse An And San +1 4 ava Jen enn New +1 2 jwh

eam

nt nt K. B

  • K. Beisse

ssel adelphia 215 851 8869 eissel@reedsmith.c

  • n B. Feingertz

n B. Feingertz w York 212 521 5408 ngertz@reedsmith. d J. Gut d J. Gutows wski ki adelphia 215 851 8874 towski@reedsmith er B r B. Kant Kanter n Francisco 415 659 4923 nter@reedsmith.co hael I. hael I. Lur Lurie e adelphia 215 241 5687 urie@reedsmith.co n R. Me

  • R. Messe

sseng nger n Francisco 415 659 5992

ssenger@reedsmith.c

da L. Pep a L. Pepper er adelphia 215 851 8876 pper@reedsmith.c tthew thew L. Setzer

  • L. Setzer

adelphia 215 851 8866 etzer@reedsmith.c dres V Vallejo llejo n Francisco 415 659 4890 llejo@reedsmith.co nifer ifer S

  • S. Whit

White w York 212 521 5406 ite@reedsmith.com com .com .com

  • m

m

com

  • m

com

  • m

m Stephen J. Blazic Stephen J. Blazick Philadelphia +1 215 851 8877 sblazick@reedsm Yoni Yoni Fi Fix Philadelphia +1 215 851 8857 yfix@reedsmith.c Chri Christi stine M. Han e M. Han Philadelphia +1 215 851 8865 chanhausen@reed James ames Kr Krat atochvil ill New York +1 212 549 4266

jkratochivill@reedsm

Jonathan E. Mad

  • nathan E. Madd

Philadelphia +1 215 851 8878 jmaddison@reeds Ke Kell lley C. Mi

  • C. Mill

ller Washington, D.C. +1 215 851 8855 kmiller@reedsmi Matthew tthew J. J.Rilla illa San Francisco +1 415 659 5619 mrilla@reedsmith Mi Mike Shai ke Shaikh kh Los Angeles +1 213 457 8044 mshaikh@reedsm Seba Sebasti stian C. Wat n C. Wat Philadelphia +1 215 851 8873 swatt@reedsmith Aaron M. Y Aaron M. Young ung New York +1 212 521 5478 ayoung@reedsm k 7 mith.com 7 com ha hausen usen 5 dsmith.com l 6

mith.com

diso ison n 8 smith.com . 5 th.com 9 h.com 4 mith.com tt t 3 h.com 8 mith.com Kelly P. Di Kelly P. DiC State Tax C Philadelph +1 215 241 kdicicco@r Fran Frank J. Ga k J. Ga Philadelph +1 215 851 fgallo@ree Autumn D Autumn D. Philadelph +1 215 851 ahomza@r Kenneth R Kenneth R Philadelph +1 215 851 klevine@re Josh

  • shua E.

a E. M Paralegal Philadelph +1 215 241 jemartin@r Vi Vince ncent M. M. State Tax A Philadelph +1 215 851 vocchino@ As Ashley R hley R. R Philadelph +1 215 851 arivera@re Nao Naomi S. i S. S Paralegal San Francis +1 415 659 nsmith@re Car Carol L. W

  • L. We

Philadelph +1 215 851 cweitzel@r Cic icco co Coordinator ia 1 1291 reedsmith.com llo llo ia 1 8860 edsmith.com . Homza Homza ia 1 8854 reedsmith.com . Levi . Levine ne ia 1 8870 eedsmith.com Mar artin ia 1 8653 reedsmith.com O Occhi cchino Analyst ia 1 8879 @reedsmith.com Riv ivera a ia 1 8867 eedsmith.com Smith mith sco 9 5961 eedsmith.com eitzel itzel ia 1 8856 reedsmith.com