Hull Barrett assists businesses and individuals with respect to federal, state, and local taxes, including the effect of tax laws on tax exempt organizations.
For individuals, in addition to general income tax problems, our tax practice often focuses on estate and gift tax planning to preserve and pass along family wealth. We also assist with estate administration.
For businesses, we focus especially on practical and efficient solutions and planning for:
- Business structures, using corporations, limited partnerships and limited liability companies, to maximize after-tax returns to the owners;
- Mergers and acquisitions or other business reorganizations or transactions; and
- Employee compensation and deferred compensation.
Our estate and gift tax practice especially focuses on business succession planning and the ability to minimize and manage the effects of estate taxes on a family-owned business, while coordinating estate tax planning with current business and income tax concerns.
We have extensive experience organizing tax exempt organizations, both private foundations and public charities, and advising them on operations to avoid actions that may jeopardize tax exempt status or result in excise taxes.
With respect to state and local taxes, we advise clients with respect to multi-state income taxation, as well as sales and use tax, transfer tax and property tax issues.
Importance of Tax Law
Increasingly, tax issues become more complex and can have unexpected effects. Effective planning is essential to manage and minimize taxes, including costs of compliance.
Representation and Achievements
- Structured and represented significant shareholder in tax-free spin-off of operating division of publicly traded cable company.
- Structured tax-free reorganization of large privately owned media company in preparation for public offering of debt securities for an operating division.
- Structured complex tax-free reorganization of multi-level corporate group for efficient tax treatment and financing opportunities for various divisions.
- Prepared estate and gift plans to minimize transfer taxes and preserve family control of large privately held businesses.
- Successfully represented estate in challenging IRS assessment of additional estate tax.
- Represented the organizers of multiple non-profit entities to structure charitable activities and advise families and business sponsors regarding compliance with private foundation rules.