Taylor & Morgan provides comprehensive corporate tax planning and compliance, including:

• Choice of entity decisions and conversions
• Formation, termination and structuring
• Mergers, acquisitions and divisions
• Partner and shareholder compensation
• Allocation of partnership income
• S corporation qualification and election
• Mitigation of inadvertent S election terminations and late or invalid elections
• Entity-level taxes

Mergers and Acquisitions

Sellers and buyers should be concerned about the after-tax consideration they receive or pay for a business, whether that business is conducted in the form of a regular corporation, S corporation, limited liability company, or partnership.

• Determine whether the acquisition should be structured as a taxable or nontaxable transaction
• If nontaxable, determine the type of tax-free transaction that should be used to accomplish the parties' individual goals
• If taxable, decide whether the transaction should be structured as a stock or asset acquisition
• Maximize the use of any net operating losses and other tax attributes of the business being acquired
• Identify other consequences that should be addressed in the negotiation process, including where the purchaser and/or seller are members of an affiliated group filing a consolidated return

Identify other consequences that should be addressed in the negotiation process, including where the purchaser and/or seller are members of an affiliated group filing a consolidated return

Our experienced professionals also can help sellers and buyers of businesses conducted as sole proprietorships or partnerships. In addition, we can help identify other possible tax concerns as part of the due diligence and negotiation process.

State and Local Taxation

With over 80,000 state and local tax jurisdictions nationwide - each with its own set of rules and regulations - state and local laws, statutes, regulations and rules are constantly changing and expanding. Many businesses are unaware of the tax exposure created by their presence in other states, which can lead to additional penalties and interest if not properly handled.

• Income and Franchise Tax
• Property Tax
• Sales and Use Tax
• Abandoned and Unclaimed Property
• Tax Incentives - Credits and Abatements