Practice Areas under Tax
Business & Corporate Transactions
When it comes to competing and thriving in the world of business, your legal needs surpass simple structure and compliance. They need to keep pace with your innovative spirit, match your passion about your products or services and protect your company’s vision.
Christian & Small’s business and corporate transactions attorneys have extensive business law knowledge combined with comprehensive insight into today’s commercial climate. This allows them to successfully guide both start up and established companies through the myriad of transactions necessary to establish, grow and protect their businesses. We assist with virtually any matter related to the creation, expansion or dissolution of a business, including:
- Pre-business planning
- Mergers and acquisitions
- Capital expansion
- Capital investments
- Directors and officers (D&O) liability
- Trade association membership
- Joint ventures
- Business successions
- Shareholder rights
- Securities offerings
Clients have hired us to provide third-party opinions of major business transactions. Our lawyers analyze all aspects of proposed deals to ensure they comply with tax and corporate laws, government regulations and make good financial and business sense for our clients.
Tax Exempt Entities
Nonprofits are one of the fastest growing segments of the U.S. economy. The number of public charities increased by more than 66% between 1995 and 2005, and experts believe that tax-exempt organizations account for roughly five-percent of the nation’s GDP. New tax laws require more detailed reporting and new requirements for Form 990. As tax-exempt organizations evolved and become more sophisticated businesses, they encounter more complicated tax issues. And the downturn in the economy has nonprofits looking for innovative ways to reach their fundraising goals and carry out their mission.
The business and tax lawyers of Christian & Small lawyers draw from all disciplines – tax, health care, employee benefits, real estate, trusts and estates – to provide full-service representation to a variety of tax-exempt organizations. We represent numerous charitable and educational organizations, long-term care facilities, hospitals, hospices, trade associations, research institutions, health insurers, nonprofits, fraternal organizations, private foundations and endowments.
Exempt Organization Formation and Corporate Structures
Creating appropriate corporate structures and obtaining tax-exempt status is essential to the long-term success of a tax-exempt organization. Christian & Small attorneys work closely with exempt clients to create legal structures and relationships with affiliates to achieve desired economic and operational goals while minimizing liability and tax risks. Activities in this area include:
- Assisting clients in choosing the proper legal entity and jurisdiction of incorporation.
- Analyzing and advising clients about the appropriate type of exemption (e.g., Code section 501(c)(3), 501(c)(4) or 501 (c)(6)) and, where appropriate, proper type of public charity classification ).
- Drafting corporate organizational documents (e.g., Articles of Incorporation and By-Laws) and operational documents (conflict of interest, compensation, employee non-retaliation and records retention policies, etc.) that meet the client’s management and tax-exemption goals.
- Developing the board of directors, committee and operating structures to create long-term stability in management and effective governance.
- Preparing and filing applications for federal exemption (IRS Form 1023 or 1024) and state and local exemption (income, sales and property tax).
- Negotiating with Internal Revenue Service (IRS) and state and local taxing authorities to obtain desired tax status.
- Registering with fundraising regulators and assisting national organizations with multi-state fundraising compliance.
- Using corporate structures for unrelated business income tax planning.
- Creating structures for alternative or risky investments and activities, such as for-profit subsidiaries (both foreign and domestic) and single member limited liability companies, mergers and acquisitions.
A record number of state and federal tax changes have many taxpayers, small businesses and corporations struggling to keep up with the tax laws that apply to them. Yet, a forward-thinking tax strategy, coupled with proper structuring of your business or individual assets, can minimize the amount of tax you pay. You need tax attorneys who will help you take full advantage of deductions, credits and losses to decrease your tax liability. You also need to work with professionals who will take an honest assessment of your tax filings, conduct internal audits and recommend tax strategies that won’t invite an audit from the Internal Revenue Service or Alabama Department of Revenue.
Christian & Small’s business and tax attorneys craft creative, responsive and cost-effective legal solutions to a wide variety of business and tax planning issues. Our attorneys have extensive knowledge of federal, state and local taxation of corporations, partnerships, individuals, trusts and estates and the special needs of tax-exempt entities. We monitor changing tax laws, modifications to the tax code and court opinions to keep our clients apprised of any new tax credits or rules affecting their responsibilities.
We routinely advise clients on the legal and tax consequences of acquisitions and dispositions, mergers, financial structures and product and business operations. We help clients establish wealth transfer vehicles like gifting and life insurance trusts, offshore trusts and charitable foundations.
- Secured a multimillion dollar development tax credit for a Fortune 500 company.