Corporate and Transactional
With the reduction of tax rates at the federal level, state and local taxes now account for a historically high percentage of most businesses’ tax burden. There are literally thousands of these taxes that companies may or may not be subject to, depending on the nature of a given transaction and the requirements of various taxing authorities. The rules are sometimes counterintuitive and seemingly contradictory.
At WilmerHale, we have structured our state and local tax area to help clients throughout the country successfully cope with the specific requirements of individual jurisdictions. Our offices are strategically located across the United States and serve a nationwide client base. In addition, as members of a national network of state and local tax practitioners, we offer experience with the laws and rules of most state and many local taxing authorities.
Clients turn to our seasoned team of attorneys to resolve nearly any state or local tax challenge they face. In recent matters, we:
- Advised clients on state tax issues in connection with their expansion into, and exit out of, various states
- Secured favorable local property tax incentive for clients such as Intercontinental Recycling Corporation and Cabot LNG
- Obtained a letter ruling that a fund administrator’s activities in a particular state would not cause its customers to be taxable in that state
- Minimized state and local taxes for a large water company by obtaining a letter ruling that qualified it for tax credits and exemptions and by negotiating for property tax incentives