Gravel and Shea

Taxation

Our taxation group provides general advice to businesses, individuals and accountants on the legal impact of various federal and state income rules and provides advice to businesses on their sales and use tax collection obligations in other states. Our taxation group works closely with our various business groups to provide advice in structuring transactions to lessen the impact of income taxes generally. Our particular areas of expertise in business transactions include:

• Understanding and using partnerships and limited liability companies in creative ways.
• Comparing and contrasting "S" and "C" corporations.
• Structuring sales in order to maximize capital gains and lower ordinary income.

The taxation lawyers also independently review questions and provide opinions on matters relating to income tax reporting. For instance, our lawyers are frequently called on to provide assistance in structuring a transaction and then will render an opinion as to the tax impacts of the transaction. In addition, accountants will seek our opinion concerning the manner in which they should report an item for a client.

MEMBERS:
Charles T. Shea (Of Counsel)